US-listed Chinese firms trade mostly lower
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E-mail Xinhua, March 8, 2022
U.S.-listed Chinese companies traded mostly lower on Monday 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 Bilibili and XPeng tumbled 8.01 percent and 7.86 percent, respectively, leading the laggards in the top 10 stocks in the index.
Shares of BeiGene rose 1.91 percent, the lone gainer in the top 10 stocks.
U.S. stocks sank on Monday as investors feared that the ongoing Russia-Ukraine conflict would complicate inflation outlook and cloud the economy.
The Dow Jones Industrial Average tumbled 797.42 points, or 2.37 percent, to 32,817.38. The S&P 500 fell 127.78 points, or 2.95 percent, to 4,201.09. The Nasdaq Composite Index shed 482.48 points, or 3.62 percent, to 12,830.96.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 13.98 percent to 36.45.
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 2,406.22, marking a 10.52-percent slide for the month-to-date returns and a 19.21-percent loss for the year-to-date returns.
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