U.S.-listed Chinese firms trade mostly higher
Source: Xinhua | 2021-02-02
U.S.-listed Chinese companies traded mostly higher on Monday with seven of 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 Pinduoduo and Alibaba Group Holding surged 4.98 percent and 4.28 percent, respectively, leading the gainers in the top 10 stocks in the index.
Shares of Trip.com Group and TAL Education Group dropped 2.14 percent and 0.36 percent, respectively, leading the laggards in the top 10 stocks.
U.S. stocks finished higher on Monday, recouping some of the massive losses they suffered in the previous week.
The Dow Jones Industrial Average climbed 229.29 points, or 0.76 percent, to 30,211.91. The S&P 500 rose 59.62 points, or 1.61 percent, to 3,773.86. The Nasdaq Composite Index jumped 332.70 points, or 2.55 percent, to 13,403.39.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 8.61 percent to 30.24.
As of Friday, 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 5,614.71, marking a 7.47-percent gain for January and a 7.47-percent rise for the year-to-date returns.
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