The Shanghai Composite inched up 0.1% to around 3,935 on Wednesday, while the Shenzhen Component gained 0.8% to 14,372, rebounding from the prior session as technology stocks led the recovery. Sector sentiment improved after CoreWeave reported stronger-than-expected revenue growth and Super Micro Computer issued an upbeat revenue forecast that topped market expectations.
In China, investors also turned their attention to upcoming earnings from Semiconductor Manufacturing International Corp. (SMIC), due Thursday, which are expected to provide fresh signals on chip demand. Among the notable gainers in the tech space were Zhongji Innolight (up 1.7%), Eoptolink Technology (2.2%), NAURA Technology (1.6%), and Victory Giant Technology (1.4%).
Risk appetite was further supported by easing geopolitical concerns in the Middle East 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 indicated that talks between Iran and Oman had reached an advanced stage.
