Fri, 25 Sep 2020

U.S.-listed Chinese firms trade higher

15 Sep 2020, 07:05 GMT+10

NEW YORK, Sept. 14 (Xinhua) -- U.S.-listed Chinese companies traded roughly higher on Monday, 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 and New Oriental Education & Technology Group surged 3.25 percent and 3 percent, respectively, leading the gains in the top 10 stocks in the index.

Shares of TAL Education Group and Group rose 2.84 percent and 2.26 percent, respectively, also among the best performers in the top 10 stocks.

U.S. stocks ended higher on Monday, bolstered by solid gains in big tech names.

The Dow Jones Industrial Average increased 327.69 points, or 1.18 percent, to 27,993.33. The S&P 500 rose 42.57 points, or 1.27 percent, to 3,383.54. The Nasdaq Composite Index rallied 203.11 points, or 1.87 percent, to 11,056.65.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 3.8 percent to 25.85.

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 4,180.46, marking a 5.08-percent loss for the month-to-date returns and a 31.99-percent gain for the year-to-date returns.

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