China stocks rise on AI sentiment rebounding
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China stocks rose on Wednesday, driven by AI firms, with the CSI300 Index up 0.3% and the Shanghai Composite Index gaining 0.2%. AI stocks increased by 2.2% after previous declines, while semiconductors rose 2.9%. A UBS survey indicated strong investor interest in metals and basic materials, despite concerns over high valuations in tech stocks. Regulatory measures were taken against abnormal trading practices, reflecting a desire to moderate market gains. Analysts suggest that future gains in onshore shares depend on earnings growth. China Vanke's shares rose 2.3% after bondholders deferred payments on a bond.
Source: Reuters The copyright of this article belongs to the original author/organization.
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