FX.co ★ China Stocks Gain on Tech Support

The Shanghai Composite inched up to around 3,869 on Thursday, while the Shenzhen Component advanced 0.9% to 14,192, led by technology stocks amid growing optimism that AI-focused firms will benefit from a global surge in investment in AI infrastructure. In China, the E Fund Blue Chip Selected Mixed Fund sharply cut its holdings of liquor producers and increased its positions in AI-related companies such as SMIC and Suzhou Dongshan Precision Manufacturing. Likewise, the Invesco Great Wall Dingyi Mixed Fund boosted its exposure to AI beneficiaries, including Zhongji Innolight and Piotech, replacing former core holdings such as Moutai and Guangdong Haid Group. Among technology names, Zhongji Innolight gained 2.9%, Victory Giant added 2.9%, and Eoptolink Technology rose 1%. Elsewhere, energy major CNOOC climbed 1.2%, tracking the rally in crude oil prices as persistent tensions in the Middle East heightened concerns over potential supply disruptions.