27.08.202502:33:15UTC+00China Stocks Gain on Tech Boost

The Shanghai Composite marginally increased by 0.1% to approximately 3,870, while the Shenzhen Component saw a more significant rise of 1% to reach 12,600 on Wednesday. This performance extends the impressive gains witnessed throughout August, primarily driven by the robust rally in Chinese technology stocks. Notably, Cambricon Technologies experienced a further 3% rise, marking a remarkable 102% increase this month. This surge follows the AI chipmaker's announcement of record-breaking first-half profits, coinciding with Beijing's strategy to promote indigenous technology in response to the DeepSeek AI phenomenon. The company's surge in value has positioned it to potentially surpass Kweichow Moutai as the priciest stock on China’s A-share market. Other significant performers within the tech sector included Talkweb Information, which rose by 2.9%, Eoptolink Technology with an 8.9% increase, and Zhongji Innolight rising by 3.1%. Meanwhile, from an economic perspective, official statistics revealed that industrial profits in China declined by 1.7% year-on-year during the first seven months of 2025, highlighting ongoing challenges in domestic demand.