FX.co ★ China Stocks Extend Gains on Tech Boost

The Shanghai Composite Index rose by 0.15% to approximately 3,860, while the Shenzhen Component Index climbed 1.2% to 13,515 on Thursday. This marks the second consecutive session of gains for mainland equities, propelled by strength in high-growth technology stocks. China's ongoing commitment to artificial intelligence has fueled positive market sentiment. On this note, Alibaba recently announced its plans to establish its first data centers in Brazil, France, and the Netherlands, aiming to bolster its global AI expansion. Additionally, investor optimism has been supported by signs of easing trade tensions between the US and China. However, US Ambassador to China, David Perdue, suggested that the much-anticipated meeting between President Donald Trump and President Xi Jinping might take place next year rather than this fall. Among the prominent gainers were Eoptolink Technology with a 6.3% increase, Zhongji Innolight rising by 2.3%, IEIT Systems climbing 10%, Contemporary Amperex advancing 3.5%, and Sungrow Power escalating by 1.9%.