The Shanghai Composite Index rose 0.3% to 3,957 on Thursday, while the Shenzhen Component Index gained 1% to 14,554, extending the previous session’s advance and mirroring strength across Asian markets amid a renewed, AI-driven global rally. Risk appetite for technology shares continued to recover after last month’s sharp selloff, supported by robust earnings from major tech firms that bolstered confidence in sustained investment in AI infrastructure and mounting evidence of AI adoption spreading across a broader range of applications.
In China, focus remained squarely on Semiconductor Manufacturing International Corp., scheduled to report earnings later on Thursday, with net profit forecast to more than double from a year earlier. Within the sector, notable gainers included Cambricon Technologies (up 1.4%), SMIC (up 2%), Zhongji Innolight (up 3.8%), Eoptolink Technology (up 3.1%) and NAURA Technology (up 1.9%). By contrast, energy shares underperformed, with PetroChina (down 3.6%) and CNOOC (down 2.5%) among the weakest names.
