U.S.-listed Chinese firms trade mostly higher

NEW YORK, April 4 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday, with 8 of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Shares of NetEase and shares of Baidu rose 2.12 percent and 1.95 percent respectively, leading the advancers in the top 10 stocks of the index, while shares of Alibaba fell 1.49 percent as the biggest laggard among the 10 stocks.

Shares of JD.com, another Chinese famous e-commerce giant listed in the U.S. equity market, rose 1.18 percent to 39.44 U.S. dollars apiece on Wednesday.

U.S. stocks reversed big early losses to end higher on Wednesday as investors tried to shake off fears about trade relations between China and the United States.

China on Wednesday unveiled a list of products worth 50 billion U.S. dollars from the United States that will be subject to higher tariffs, including soy bean, automobiles and chemical products.

The move was taken after the U.S. administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion dollars with a suggested tariff rate of 25 percent.

The date of implementation will depend on when the U.S. government imposes the tariffs on Chinese products, the Ministry of Finance said.

At the close, the Dow Jones Industrial Average added 230.94 points, or 0.96 percent, to 24,264.30. The S&P 500 increased 30.24 points, or 1.16 percent, to 2,644.69. The Nasdaq Composite Index was up 100.83 points, or 1.45 percent, to 7,042.11.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, dropped 4.93 percent to 20.06 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 2,989.19, marking a 3.29-percent decrease for the year-to-date returns. Enditem