US-listed Chinese firms trade roughly flat
NEW YORK -- US-listed Chinese companies traded roughly flat on Thursday with five of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.
Shares of NetEase and NIO soared 7.99 percent and 7.49 percent, respectively, leading the gainers in the top 10 stocks in the index.
Shares of TAL Education Group and New Oriental Education & Technology Group slid 2.5 percent and 1.44 percent, respectively, leading the laggards in the top 10 stocks.
US stocks rallied to fresh record highs on Thursday, bolstered by strong gains in tech sector.
The Dow Jones Industrial Average added 211.73 points, or 0.69 percent, to finish at 31,041.13. The S&P 500 rose 55.65 points, or 1.48 percent, to 3,803.79. The Nasdaq Composite Index increased 326.69 points, or 2.56 percent, to 13,067.48.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 10.77 percent to 22.37.
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 5,179.58, marking a 0.86-percent loss for the month-to-date returns and a 0.86-percent decline for the year-to-date returns.
