US-listed Chinese firms trade mostly lower
NEW YORK -- US-listed Chinese companies traded mostly lower on Thursday, with six of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.
Shares of Pinduoduo and Baidu slid 1.97 percent and 1.08 percent, respectively, leading the laggards in the top 10 stocks in the index.
Shares of Trip.com Group and TAL Education Group rose 1.09 percent and 0.65 percent, respectively, leading the gainers in the top 10 stocks.
US stocks finished lower on Thursday as shares of big tech names struggled, weighing on the market.
The Dow Jones Industrial Average slipped 130.40 points, or 0.47 percent, to 27,901.98. The S&P 500 fell 28.48 points, or 0.84 percent, to 3,357.01. The Nasdaq Composite Index decreased 140.19 points, or 1.27 percent, to 10,910.28.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 1.61 percent to 26.46.
As of Wednesday, 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 4,243.94, marking a 3.64-percent loss for the month-to-date returns and a 33.99-percent gain for the year-to-date returns.
