U.S.-listed Chinese firms trade mostly higher
Nov 18, 2022
New York [US], November 18: U.S.-listed Chinese companies traded mostly higher on Thursday with eight 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 Alibaba Group Holding and JD.com surged 7.8 percent and 7.53 percent, respectively, leading the advancers in the top 10 stocks.
Shares of BeiGene and NetEase slid 2.53 percent and 0.46 percent, respectively, the only two decliners in the top 10 stocks.
Wall Street's major indexes fell on Thursday, driven by hawkish comments from Federal Reserve officials.
The Dow Jones Industrial Average slipped 7.51 points, or 0.02 percent, to 33,546.32. The S&P 500 lost 12.23 points, or 0.31 percent, to 3,946.56. The Nasdaq Composite Index decreased 38.70 points, or 0.35 percent, to 11,144.96.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 0.75 percent to 23.93.
As of Wednesday, 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 2,327.39, marking a 23.86-percent gain for the month-to-date returns and a 21.86-percent loss for the year-to-date returns.
Source: Xinhua
