The Shangai Composite Index Closes 0.37% Higher

The Shanghai Composite rose 0.3% to 3,957 on Thursday, while the Shenzhen Component climbed 1% to 14,554, extending gains from the previous session and tracking strength across Asian markets amid a renewed global AI-driven rally. Investor appetite for technology stocks continued to recover after last month’s sharp selloff, as strong earnings from major tech companies reinforced confidence in sustained spending on AI infrastructure and growing evidence that AI adoption is expanding across a wider range of applications. In China, attention remained firmly on Semiconductor Manufacturing International Corp., which is set to report earnings later on Thursday, with net profit expected to more than double from a year earlier. Cambricon Technologies (1.4%), SMIC (2%), Zhongji Innolight (3.8%), Eoptolink Technology (3.1%), and NAURA Technology (1.9%) were among the sector's top gainers. In contrast, energy stocks lagged, with PetroChina (-3.6%) and CNOOC (-2.5%) among the worst performers.

The Shangai Composite Index went up by 14 points or 0.37 percent on Wednesday to close at 3948 points. The rise was led by Greenland Holdings (3.85%), China Fortune (3.67%) and Poly Real Estate (2.82%). On the downside, the weakerst performers were Petrochina (-3.53%), Shaanxi Coal (-2.78%) and Sdic Power (-1.82%).

The Shanghai Composite rose 0.32% to close at 3,946.7 on Wednesday, while the Shenzhen Component climbed 1.09% to 14,414.4, rebounding from the previous session as technology stocks led the recovery. Sentiment in the sector improved after CoreWeave posted stronger-than-expected revenue growth and Super Micro Computer issued an upbeat revenue forecast that above expectations. In China, investors are awaiting earnings from Semiconductor Manufacturing International Corp., due on Thursday, which could offer fresh insight into chip demand. Cambricon Technologies (1.35%), SMIC (2.03%), Zhongji Innolight (3.48%), Eoptolink Technology (3.11%), and NAURA Technology (1.86%) were among the sector’s top gainers. Risk appetite was also supported by easing Middle East tensions after Pakistan’s defense minister said the US and Iran were "close to some sort of arrangement" regarding the Strait of Hormuz, while separate reports suggested that talks between Iran and Oman had reached an advanced stage.