Shares of Chinese Internet major NetEase tumbled 6 per cent to US$132.70 at midday in New York on Thursday, after posting on Wednesday after the market close a lower than expected 16.7 per cent year-on-year rise in net profit to 1.4 billion yuan for the year’s second quarter. 

Rival Sina slipped 1.1 per cent to US$38.85 ahead of its earnings announcement on August 18. 

Chinese e-commerce giant Alibaba rebounded 2.5 per cent to US$75.20 in New York trade after a sharp fall on Wednesday following a disappointing second-quarter revenue announcement. Rival JD.com rose 1.3 per cent to US$27.13.

Meanwhile, the Deutsche X-trackers Harvest CSI300 China A-Shares ETF rose 2.2 per cent to US$40.87 after the Shanghai Composite Index ended 1.76 per cent higher as Beijing reassured the markets that it would not let the yuan’s devaluation become a trend as it shifts to a more market-oriented exchange rate policy.