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U.S.-listed Chinese firms trade roughly mixed

By   /  May 17, 2018  /  No Comments

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U.S.-listed Chinese firms trade roughly mixed

NEW YORK, (Xinhua) — U.S.-listed Chinese companies traded roughly mixed on Wednesday, with five of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a upbeat note.

Shares of Baidu and shares of Yum China Holdings rose 4.47 percent and 1.40 percent respectively, leading the advancers in the top 10 stocks of the index. Meanwhile, stocks of Chinese bio-pharmaceutical company BeiGene, Ltd., the biggest laggard, lost 2.41 percent in market closing.

U.S. stocks ended higher on Wednesday as the as the retail sector rose broadly following Macy’s strong earnings report.

The Dow Jones Industrial Average added 62.52 points, or 0.25 percent, to 24,768.93. The S&P 500 gained 11.01 points, or 0.41 percent, to 2,722.46. The Nasdaq Composite Index was up 46.67 points, or 0.63 percent, to 7,398.30.

The CBOE Volatility Index, widely considered the best fear gauge in the stock market, fell 8.27 percent to 13.42 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 3,164.97, marking a 3.38-percent increase for the month-to-date returns and a 2.39-percent up for the year-to-date returns.

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