US-listed Chinese firms trade higher

New York, Aug 30 (IANS) US-listed Chinese companies traded higher with all of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a positive note.

Shares of Alibaba Group Holding and Yum China rose 3.18 per cent and 2.60 per cent, respectively on Thursday, leading the gainers in the top 10 stocks of the index, Xinhua news agency reported.

US stocks closed higher on Thursday, as investor sentiment got a lift by rising hopes for the prospect of the US-China trade tensions. Meanwhile, Wall Street digested a batch of mixed data.

The Dow Jones Industrial Average increased 326.15 points, or 1.25 per cent, to 26,362.25. The S&P 500 was up 36.64 points, or 1.27 per cent, to 2,924.58. The Nasdaq Composite Index rose 116.51 points, or 1.48 per cent, to 7,973.39.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, decreased 7.6 per cent to 17.88 on Thursday.

As of Wednesday, the S&P US Listed China 50 index stood at 2,778.60, marking a 2.72-per cent increase for the month-to-date returns and a 21.27-per cent gain for the year-to-date returns.

--IANS

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