business

U.S.-listed Chinese firms trade mostly lower

NEW YORK, Oct. 30 (Xinhua) — U.S.-listed Chinese companies traded mostly lower on Friday, with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of NIO and Pinduoduo slid 4.41 percent and 4.4 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Baidu rose 0.83 percent, the only gainer in the top 10 stocks.

U.S. stocks closed lower on Friday, as a pronounced slide in tech sector weighed on the market.

The Dow Jones Industrial Average fell 157.51 points, or 0.59 percent, to 26,501.60. The S&P 500 was down 40.15 points, or 1.21 percent, to 3,269.96. The Nasdaq Composite Index shed 274.00 points, or 2.45 percent, to 10,911.59.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 1.14 percent to 38.02.

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 4,516.98, marking a 5.31-percent increase for the month-to-date returns and a 42.62-percent gain for the year-to-date returns. 

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