U.S.-listed Chinese firms trade mostly lower-Xinhua

U.S.-listed Chinese firms trade mostly lower

Source: Xinhua

Editor: huaxia

2022-12-08 06:08:45

NEW YORK, Dec. 7 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday, with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of NIO and Alibaba Group Holding dipped 4.98 percent and 3.41 percent, respectively, leading the laggards in the top 10 stocks.

Shares of BeiGene and NetEase climbed 3.09 percent and 0.28 percent, respectively, the only two advancers in the top 10 stocks.

Wall Street's major indexes closed mostly lower on Wednesday as recession concerns lingered.

The Dow Jones Industrial Average was up 1.58 points, or 0.005 percent, to 33,597.92. The S&P 500 fell 7.34 points, or 0.19 percent, to 3,933.92. The Nasdaq Composite Index slid 56.34 points, or 0.51 percent, to 10,958.55.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 2.3 percent to 22.68.

As of Tuesday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 2,660.76, marking a 1.95-percent rise for the month-to-date returns and a 10.67-percent loss for the year-to-date returns.