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US-listed Chinese firms trade mostly higher

Alibaba’s company logo at its office in Hong Kong on February 22, 2012. Aaron Tam/Stringer | Getty Images. Sketched by the Pan Pacific Agency.

BEIJING, Jul 7, 2020, Xinhua. U.S.-listed Chinese companies traded mostly higher on Monday, 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 Baidu and Alibaba Group Holding soared 7.81 percent and 7.33 percent, respectively, leading the gainers in the top 10 stocks in the index, China.org.cn reported.

Shares of Pinduoduo and ZTO Express dipped 6.45 percent and 3.17 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks finished higher on Monday as a rally in major tech shares contributed to the market.

The Dow Jones Industrial Average jumped 459.67 points, or 1.78 percent, to 26,287.03. The S&P 500 was up 49.71 points, or 1.59 percent, to 3,179.72. The Nasdaq Composite Index increased 226.02 points, or 2.21 percent, to 10,433.65.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 0.94 percent to 27.94.

As of Thursday, 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 3,963.49, marking a 0.08-percent decrease for the month-to-date returns and a 25.14-percent gain for the year-to-date returns.

U.S. financial markets were closed on Friday in observance of Independence Day.

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