U.S.-listed Chinese firms trade higher
Source: Xinhua | 2022-06-25
U.S.-listed Chinese companies traded higher on Friday with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
Shares of BeiGene and XPeng surged 13.95 percent and 7.04 percent, respectively, leading the gains in the top 10 stocks.
Shares of Alibaba Group Holding and NIO climbed 4.91 percent and 4.47 percent, respectively, also among the best performers in the index.
U.S. stocks rose on Friday as comeback rally picked up steam on Wall Street.
The Dow Jones Industrial Average jumped 823.32 points, or 2.68 percent, to 31,500.68. The S&P 500 increased 116.01 points, or 3.06 percent, to 3,911.74. The Nasdaq Composite Index was up 375.43 points, or 3.34 percent, to 11,607.62.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 6.27 percent to 27.23.
As of Thursday, 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 2,754.67, marking a 12.29-percent gain for the month-to-date returns and a 7.51-percent loss for the year-to-date returns.
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