China Stocks Rise as AI Rally Lifts Tech Shares

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.