Mon, 08 Mar 2021

U.S.-listed Chinese firms trade higher

20 Jan 2021, 08:18 GMT+10

NEW YORK, Jan. 19 (Xinhua) -- U.S.-listed Chinese companies traded roughly higher on Tuesday 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 Baidu and NetEase surged 4.84 percent and 4.78 percent, respectively, leading the gains in the top 10 stocks in the index.

Shares of Pinduoduo and TAL Education Group advanced 4.71 percent and 4.16 percent, respectively, also among the best performers.

Wall Street's major averages finished higher on Tuesday as investors bet on further U.S. fiscal stimulus, while digesting a slew of earnings reports.

The Dow Jones Industrial Average rose 116.26 points, or 0.38 percent, to 30,930.52. The S&P 500 increased 30.66 points, or 0.81 percent, to 3,798.91. The Nasdaq Composite Index jumped 198.68 points, or 1.53 percent, to 13,197.18.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 4.52 percent to 23.24.

The U.S. markets were closed on Monday in observance of Martin Luther King Jr. Day.

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 5,449.77, marking a 4.31-percent gain for the month-to-date returns and a 4.31-percent rise for the year-to-date returns.

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