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US-listed Chinese firms trade mostly higher

Xinhua | Updated: 2022-08-16 09:47
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American flags fly outside the New York Stock Exchange on April 13, 2020. [Photo/Xinhua]

NEW YORK - US-listed Chinese companies traded mostly higher on Monday with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

Shares of Pinduoduo and BeiGene went up 4.77 percent and 1.64 percent, respectively, leading the advancers in the top 10 stocks.

Shares of Baidu and Alibaba Group Holding dipped 0.61 percent and 0.6 percent, respectively, the only two decliners in the index.

US stocks climbed on Monday, extending the gains they had scored in the prior week.

The Dow Jones Industrial Average was up 151.39 points, or 0.45 percent, to 33,912.44. The S&P 500 increased 16.99 points, or 0.40 percent, to 4,297.14. The Nasdaq Composite Index rose 80.86 points, or 0.62 percent, to 13,128.05.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 2.15 percent to 19.95.

As of Friday, the S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, stood at 2,605.71, marking a 2.06-percent gain for the month-to-date returns and a 12.52-percent loss for the year-to-date returns.

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