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U.S.-listed Chinese firms trade lower

by WorldFinance
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 U.S.-listed Chinese companies traded lower on Friday, with all 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 JD.com and Trip.com Group dropped 5.32 percent and 4.28 percent, respectively, leading the slide in the top 10 stocks.

Shares of Alibaba Group Holding and BeiGene slipped 3.82 percent and 3.75 percent, respectively, also among the worst performers in the top 10 stocks.

Wall Street’s major indexes ended mixed on Friday as weakness in tech-related stocks roughly offset the gains in real estate and utilities.

The Dow Jones Industrial Average rose 152.97 points, or 0.45 percent, to 34,347.03. The S&P 500 fell 1.14 points, or 0.03 percent, to 4,026.12. The Nasdaq Composite Index decreased 58.96 points, or 0.52 percent, to 11,226.36.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, added 0.39 percent to 20.5.

U.S. financial markets were closed Thursday for the Thanksgiving holiday.

As of Wednesday, 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 2,295.35, marking a 22.16-percent increase for the month-to-date returns and a 22.94-percent loss for the year-to-date returns.

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