The Shanghai Composite Index closed higher today, supported by a surge in semiconductor stocks and artificial intelligence-related shares. The index ended at 3,832.26 points, up 27.57 points or 0.72 percent. Stocks that posted strong gains included Cambricon Technologies, which jumped 6.10 percent, Zhongji Innolight, which rose 4.40 percent, and Eoptolink Technology, which soared 6.71 percent. On the economic data front, China's National Bureau of Statistics reported that the manufacturing purchasing managers' index fell to 49.2 in July from 50.3 in June, missing analyst expectations of 50. The non-manufacturing PMI came in at 49, the lowest level since December 2022 and down from 50.2 in June. A reading below 50 indicates that both China's manufacturing and services sectors are in contraction. Meanwhile, the Political Bureau of the Communist Party of China held its July meeting, emphasizing plans to further deepen capital market reforms while strengthening market resilience and investor confidence.
Eoptolink Technology Inc LtdAI-related stock buying boosts Eoptolink Technology.
Cambricon Technologies Corp LtdSurge in semiconductor and AI-related shares lifts Cambricon Technologies.
ZHONGJI INNOLIGHT CO., LTD. - H SHARES