U.S.-listed Chinese firms trade mostly lower
Source: Xinhua | 2022-06-30
U.S.-listed Chinese companies traded mostly lower on Wednesday with seven 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 XPeng dipped 2.24 percent and 1.71 percent, respectively, leading the laggards in the top 10 stocks.
Shares of Trip.com Group and JD.com advanced 2.5 percent and 0.48 percent, respectively, leading the gainers in the index.
U.S. stocks finished mixed on Wednesday, amid continued worries over inflation, the pace of rate hikes and the threat of recession.
The Dow Jones Industrial Average rose 82.32 points, or 0.27 percent, to 31,029.31. The S&P 500 slipped 2.72 points, or 0.07 percent, to 3,818.83. The Nasdaq Composite Index decreased 3.65 points, or 0.03 percent, to 11,177.89.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 0.71 percent to 28.16.
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 2,832.11, marking a 15.45-percent gain for the month-to-date returns and a 4.91-percent loss for the year-to-date returns.
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