FX.co ★ China Tech Stocks Extend Rally

The Shanghai Composite Index increased by 1.65%, closing at 3,875, while the Shenzhen Component Index saw a significant rise of 3.36%, reaching 12,980 on Thursday. Both indices marked new highs, propelled by growing enthusiasm surrounding artificial intelligence and its associated sectors, thereby fueling the tech market rally. Investor sentiment received an additional lift following a notable 36% increase in US tech giant Oracle's value on Wednesday, attributed to strong growth in its cloud infrastructure driven by AI demand. This upward movement in Chinese stocks occurred despite emerging reports about the Trump administration's consideration to impose broad restrictions on Chinese pharmaceutical imports. On the economic front, China's latest inflation figures did not offer much insight into the economic perspective or the potential for further policy interventions. Key performers included Eoptolink Technology, which rose by 13.4%; Zhongji Innolight, up by 14.3%; Foxconn Industrial, increasing by 10%; Victory Giant, surging by 16.3%; and Cambricon Technologies, which advanced by 9%.