China Stocks Climb on AI Optimism

2026-07-31 02:12 By Czyrill Jean Coloma 1 min. read

The Shanghai Composite climbed 1.1% to 3,843 on Friday, while the Shenzhen Component surged nearly 4% to 13,810, led by a sharp rebound in semiconductor and AI-related stocks.

The rally was fueled by renewed optimism over AI spending after major US tech firms reinforced their aggressive investment plans.

Adding to the positive sentiment were Microsoft's strong earnings and robust Azure growth.

Among the top gainers were Cambricon Technologies (10.2%), SMIC (8.1%), Zhongji Innolight (13.7%), and Eoptolink Technology (14.4%).

Meanwhile, China's manufacturing PMI slipped into contraction for the first time since February in July, while the non-manufacturing PMI also unexpectedly declined.

The weak readings reinforced concerns over slowing growth after Q2 GDP fell below the government's 4.5%-5% target range.

The Politburo pledged timely and effective policy support but offered few details on additional stimulus measures.

Despite Friday’s gains, both benchmarks were set for monthly losses.



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China Stocks Climb on AI Optimism
The Shanghai Composite climbed 1.1% to 3,843 on Friday, while the Shenzhen Component surged nearly 4% to 13,810, led by a sharp rebound in semiconductor and AI-related stocks. The rally was fueled by renewed optimism over AI spending after major US tech firms reinforced their aggressive investment plans. Adding to the positive sentiment were Microsoft's strong earnings and robust Azure growth. Among the top gainers were Cambricon Technologies (10.2%), SMIC (8.1%), Zhongji Innolight (13.7%), and Eoptolink Technology (14.4%). Meanwhile, China's manufacturing PMI slipped into contraction for the first time since February in July, while the non-manufacturing PMI also unexpectedly declined. The weak readings reinforced concerns over slowing growth after Q2 GDP fell below the government's 4.5%-5% target range. The Politburo pledged timely and effective policy support but offered few details on additional stimulus measures. Despite Friday’s gains, both benchmarks were set for monthly losses.
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