FX.co ★ China Stocks Maintain Upward Momentum

The Shanghai Composite inched up 0.1% to 3,684 on Thursday, extending its winning streak to a fourth straight session, while the Shenzhen Component rose 0.5% to 11,441, marking a third consecutive day of gains. Investors largely shrugged off mounting corporate uncertainty around Nvidia, whose board is reportedly engaged in high-stakes talks over the future of Chief Executive Jensen Huang amid allegations involving a woman suspected by US authorities of being a Chinese spy. The scandal initially rattled sentiment given Nvidia’s pivotal role in global AI supply chains and the broader tech ecosystem in the region.

Market anxiety eased quickly, however, as confidence in the AI sector was reinforced by a series of bullish global signals: CoreWeave raised its annual outlook, OpenAI reportedly surpassed $10 billion in quarterly revenue, and Anthropic’s planned IPO was said to be multiple times oversubscribed. On the mainland, chip and optical networking names led the advance, with Cambricon Technologies up 5.6%, Hygon Information Technology gaining 3.6%, Eoptolink Technology rising 1.6%, and Zhongji Innolight adding 1.4%.