The Shangai Composite Index Closes 0.73% Higher

The Shangai Composite Index rose 28 points or 0.73 percent on Friday to close at 3833 points. Leading the gains are Yonyou Soft (10.03%), Sanan Optoelectron (4.15%) and China Molybdenum (3.11%). Top losers were Agricultural Bank of China (-3.23%), Bank of Communications (-2.60%) and ICBC (-2.58%).

The Shanghai Composite gained 0.72% to close at 3,832.3 on Friday, while the Shenzhen Component climbed 2.21% to 13,578.9, 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 reaffirmed 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 (6.1%), Zhongji Innolight (4.4%), and Eoptolink Technology (6.71%). Meanwhile, China's manufacturing PMI slipped into contraction for the first time since February in July, while the non-manufacturing PMI also unexpectedly declined. While the July Politburo meeting offered few surprises on property and consumption support, it reiterated plans to deepen capital market reforms and strengthen market resilience and investor confidence. Over the month, the Shanghai Composite dropped 6.4%, while the Shenzhen Component plunged 16.21%.

The Shangai Composite Index dropped 30 points or 0.78 percent on Thursday to close at 3799 points. Losses were led by Zhejiang Zheneng (-6.46%), Datang Intl (-5.51%) and Huatai Securities (-2.88%). Offsetting the fall, top gainers were Yonyou Soft (4.42%), Shanghai Pudong (4.31%) and BAIC BluePark (3.66%).