Chinese Stock Market Rallies as Technology and AI Stocks Lead the Surge
TMTPOST -- Chinese stock market experienced a strong upward trend throughout Friday, with the ChiNext Index leading the charge. The Sci-Tech Innovation 50 Index surged nearly 6%, hitting its highest level since April 26, 2023.
By the close of trading, the Shanghai Composite Index rose by 0.85%, reaching 3,379.11 points. The Shenzhen Component Index gained 1.82%, ending at 10,991.37 points, and the ChiNext Index (price) saw a 2.51% increase, closing at 2,281.51 points. The China A50 Futures Index had risen 1.05%, reaching 13,418 points as of the latest data.
Overall, the market saw more stocks advancing than declining, with over 2,800 stocks gaining and more than 2,300 stocks losing. The total trading volume of the Shanghai and Shenzhen exchanges was 2.19 trillion yuan, up by 436 billion yuan from the previous session, marking the first time since December 13, 2024, that the turnover surpassed 2 trillion yuan.
On the sector front, AI-related industries such as computing power, liquid-cooled servers, semiconductors, and data centers saw explosive growth. Stocks in these fields, including China Unicom and China Telecom, had over 30 stocks hit the daily limit up.
The robotics sector also saw renewed activity, with companies like Hangzhou Gearbox and Jiangsu Lery walking out of 8 consecutive trading days with gains. Additionally, stocks like Dingzhi Technology hit all-time highs, reflecting investor optimism in technology-driven industries.
More News