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| AI optimism props up Chinese shares |
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| (15:55, 31 Jul 2026) |
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| Chinese equities ended Friday positively, with the Shanghai Composite rising 0.72% to 3,832.3 and the Shenzhen Component gaining 2.21% to 13,578.9, driven by technology stocks, especially in semiconductors and artificial intelligence (AI). Investor sentiment improved after major US tech firms committed to significant AI investments, and Microsoft’s strong quarterly results, particularly in its Azure cloud business, reinforced confidence in AI stocks. Companies like Cambricon Technologies, Zhongji Innolight, and Eoptolink Technology saw strong gains. However, China's overall economic picture remained mixed, with manufacturing activity contracting in July and service sector growth slowing. Despite Friday's gains, the Shanghai Composite fell 6.4% in July and the Shenzhen Component declined 16.2%. |
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