China’s mainland stocks rose on Thursday, supported by stronger investor appetite for artificial intelligence and hardware-related companies after U.S. chipmaker Nvidia delivered an upbeat revenue outlook. Hong Kong shares, meanwhile, traded slightly lower.
The blue-chip CSI300 index gained 0.5% by the lunch break, while the Shanghai Composite Index advanced 0.6%. In Hong Kong, the Hang Seng Index slipped 0.4%.
Technology and hardware manufacturing stocks led gains on mainland exchanges. The 5G Communication Index jumped 4.3%, while artificial intelligence shares rose 3.5%. The tech-heavy STAR50 Index also advanced 3.5%.
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According to Reuters, sentiment toward the technology sector improved after Nvidia forecast a 70% increase in annual revenue, highlighting continued demand for AI infrastructure. The company also cautioned that shortages of memory components could limit growth.
Chinese memory-chip maker CXMT rose 5.3%, while Shengyi Technology, which supplies electronic base materials, surged 10%. Optical-fibre producers also gained, with Yangtze Optical Fibre and Cable hitting its 10% daily trading limit.
Non-ferrous metal stocks extended their recent rally, rising 1.7%, led by gold miners. Hunan Gold climbed 10% to its daily limit.
Reuters reported that profits at China’s industrial companies grew more slowly in July, with export-oriented industries benefiting from the global AI boom while sectors dependent on domestic demand continued to face pressure.
Hong Kong’s technology sector showed a more muted performance, reflecting the market’s heavier exposure to internet-platform companies and relatively limited presence of major hardware manufacturers. The broader tech-heavy segment edged higher by 0.2%.
AI developer Minimax gained 3.6% after reporting a nearly four-fold increase in first-half revenue. Hong Kong-listed Zhongji Innolight rose 5% after being added to the Stock Connect trading list.
The gains in mainland technology stocks underscore the growing influence of global AI investment trends on Chinese equities, particularly semiconductor, communications and hardware companies positioned to benefit from rising demand for AI infrastructure.
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