NEW YORK, May 4 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher 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 an upbeat note.

       Shares of XPeng and Yum China Holdings climbed 4.29 percent and 3.75 percent, respectively, leading the gainers in the top 10 stocks in the index.

       BeiGene shares slipped 0.32 percent, the lone decliner in the top 10 stocks.

       U.S. stocks rallied on Wednesday after the Federal Reserve delivered a 50-basis-point interest rate hike and Fed Chairman Jerome Powell downplayed the likelihood of a larger rate increase.

       The Dow Jones Industrial Average surged 932.27 points, or 2.81 percent, to 34,061.06. The S&P 500 increased 124.69 points, or 2.99 percent, to 4,300.17. The Nasdaq Composite Index rose 401.10 points, or 3.19 percent, to 12,964.86.

       The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 13.09 percent to 25.42.

       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 2,396.54, marking a 1.81-percent gain for the month-to-date returns and a 19.54-percent loss for the year-to-date returns.