Chinese Stock Market Gains: AI and Auto Sectors Drive Upward Momentum
Chinese shares rose on Thursday due to regulatory support for the auto sector and optimism around AI stocks. Citi analysts upgraded China equities, citing improved earnings trends. AI shares led the charge with a 1.8% increase, while the info tech sector gained 2.1% following Nvidia's announcement to boost H20 chip supply to China.
Chinese stocks climbed higher on Thursday, bolstered by regulatory measures aiding the auto sector and renewed confidence in AI-focused stocks. Citi analysts have elevated China equities, highlighting improved earnings prospects amid structural growth narratives, including AI and corporate governance reforms.
At the market's close, Shanghai Composite saw a 0.4% rise to 3,516.83, and China's CSI300 index grew by 0.7%. AI-related stocks surged by 1.8%, and the information technology sector witnessed a 2.1% increase, invigorated by Nvidia's announcement to expand H20 chip supplies to China.
Additionally, auto stocks edged up 1.7% following government pledges to regulate intense price wars in the electric vehicle sector. The biotech and healthcare sectors also saw over 5% gains, fueled by eased trade tensions following U.S. President's softened stance on China's trade relationships.
(With inputs from agencies.)
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