SHANGHAI: Mainland China stocks rebounded on Thursday, led by tech shares amid optimism over Beijing’s artificial intelligence drive. The Shanghai Composite rose 1.14%, while the STAR Market surged 7.23%, boosted by semiconductor stocks as China seeks to expand AI chip output. Nvidia rivals SMIC and Cambricon jumped 10.8% and 15.7%, respectively.
In Hong Kong, the Hang Seng fell 0.81%, weighed down by a 12.6% drop in Meituan after its quarterly profit plunged 89%. Analysts said China’s rally, fuelled by state support and institutions, could prove more sustainable despite a sluggish economy.
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