FX.co ★ China Stocks Rise on AI Optimism

The Shanghai Composite inched up 0.1% to around 4,135, while the Shenzhen Component advanced 0.4% to 14,220 on Thursday, extending this week’s rally in mainland equities. Gains were led by technology and artificial intelligence stocks, buoyed by Chinese Premier Li Qiang’s call on Wednesday for a broad-based push in technological innovation and AI applications. He urged breakthroughs across the entire AI industry chain to fully unlock the sector’s potential.

AI start-up Zhipu AI jumped nearly 20% after unveiling its latest AI model. Other notable winners included Suzhou TFC Optical (+8.9%), Wangsu Science & Technology (+6.3%), Leo Group (+5.8%) and BlueFocus Intelligent (+2.5%).

Separately, reports that ByteDance is developing its own AI chip further lifted sentiment about China’s expanding AI ecosystem.