U.S.-listed Chinese firms trade mostly lower

NEW YORK, Jan. 3 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday with seven 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 Pinduoduo dipped 4.33 percent and 3.77 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of NIO and Alibaba Group Holding rose 5.65 percent and 1.34 percent, respectively, leading the gainers in the top 10 stocks.

U.S. stocks finished the first trading session of 2022 on an upbeat note with the Dow up more than 200 points.

The Dow Jones Industrial Average increased 246.76 points, or 0.68 percent, to 36,585.06. The S&P 500 was up 30.38 points, or 0.64 percent, to 4,796.56. The Nasdaq Composite Index jumped 187.83 points, or 1.20 percent, to 15,832.80.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 3.6 percent to 16.6.

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 2,978.47, marking an 11.54-percent loss for December returns and a 42.99-percent slide for 2021.