Chinese stocks' American depository receipts fluctuate after rocky week

The American depository receipts of Chinese companies listed in the United States fluctuated on Friday after a turbulent week.

Shares of Chinese security software company Qihoo 360 Technology traded up 5.06 per cent to US$53.89 in late-morning trade in New York, after a Wall Street Journal report that an investor group led by company chairman Zhou Hongyi might lower its US$77 per share cash bid after recent stock market tumble cut  its valuation.

The original offer of US$9 billion was made in June at the height of China’s stock market boom. Shares of QIHU closed on Thursday at US$51.29, a third less than the buyout offer. The 52-week range is between US$44.56 and US$90.52.

Meanwhile, Vipshop Holdings led the losers, down 4.15 per cent to US$19.05, versus a 6.5 per cent gain on Thursday and an almost 10 per cent tumble on Wednesday.

The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF edged down 0.78 per cent to US$32.68 in late-morning trade. The iShares China Large-Cap ETF tracking Hong Kong shares lost 2.91 per cent to US$36.38.