China Stocks Maintain Upward Momentum

The Shanghai Composite edged up 0.1% to 3,684 on Thursday, marking its fourth consecutive day of gains, while the Shenzhen Component advanced 0.5% to 11,441 for a third straight session, as investors looked past escalating corporate concerns surrounding Nvidia. The chipmaker’s board is reportedly locked in high-stakes discussions over Chief Executive Jensen Huang’s future amid allegations involving a woman suspected by the US of being a Chinese spy, a scandal that initially threatened regional tech supply chains given Nvidia’s central position in the global AI trade. However, broader sector sentiment was swiftly bolstered by bullish global AI indicators, including a raised annual outlook from CoreWeave, OpenAI’s milestone $10 billion in quarterly revenue, and reports that Anthropic’s planned IPO was multiple times oversubscribed. Cambricon Technologies (5.6%), Hygon Information Technology (3.6%), Eoptolink Technology (1.6%), and Zhongji Innolight (1.4%) led the gains.