U.S.-listed Chinese firms trade mostly lower

NEW YORK, Jan. 5 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday 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 BeiGene and Bilibili tumbled 10.01 percent and 6.11 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Alibaba Group Holding rose 1.34 percent, the lone gainer in the top 10 stocks.

U.S. stocks fell sharply on Wednesday as a more hawkish Federal Reserve unnerved investors.

The Dow Jones Industrial Average decreased 392.54 points, or 1.07 percent, to 36,407.11. The S&P 500 fell 92.96 points, or 1.94 percent, to 4,700.58. The Nasdaq Composite Index shed 522.54 points, or 3.34 percent, to 15,100.17.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 16.68 percent to 19.73.

As of Tuesday, 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 2,845.41, marking a 4.47-percent loss for the month-to-date returns and a 4.47-percent slide for the year-to-date returns.