Aug 22, 2025, 11:54 GMT+7
(Reuters) -Artificial intelligence-related stocks lifted Chinese shares to a fresh decade-high on Friday, putting the market on track for its best weekly gain in nearly nine months as bullish sentiment persisted.
** The Shanghai Composite Indexrose 0.7% as of the midday trading break - a new high since August 2015, pushing the benchmark's weekly gain so far to 2.7% and setting it on track to post the best run since November 2024.
** The blue-chip CSI300 Indexjumped 1.2% to a fresh 10-month high.
** Domestic AI-related shares led the surge onshore, with the CSI Semiconductor Industry Index (.CSI931865) jumping 6.4% to the highest since late 2021 and the CSI Artificial Intelligence Indexrising nearly 5%.
** The rally gained momentum after Reuters reported that Nvidiahas asked Foxconnto suspend work on the H20 chip, the most advanced model the U.S. company is currently allowed to sell in China.
** This came after DeepSeek released an upgrade to its flagship V3 model AI model on Thursday, with domestic semiconductors supports, underscoring Beijing's push toward chip self-sufficiency.
** "Given the ongoing uncertainty around U.S.-China AI chip trade policies... the tech self-sufficiency theme is set to gain more traction," an analyst at CMS Electronics Equity Research said.
** The renewed tech optimism could further fuel China's rally, with the Shanghai benchmark now up 23% from its April low, as domestic investors rotate funds into stocks amid easing U.S.-China tensions and Beijing's push against industrial over-capacity.
** "For now, FOMO sentiment still dominates, leading to buy-the-dip flow on every market correction," Goldman Sachs analysts said.
** "Generally onshore investors believe that downside risk from now to the September parade is small."
** Hong Kong's benchmark Hang Senggained 0.3%, narrowing its weekly loss to 0.3%, as investors rotated back onshore to chase the A-share rally.
** Tech shares also led gains, with the sub-indexup 1.6% and AI sectorup 1.7%.
Sumber : Reuters
Reprinted from indopremier_id，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now