21.10.202602:00:28UTC+00China Stocks Rise on Tech Optimism

The Shanghai Composite inched up 0.2% to 3,742, while the Shenzhen Component advanced 0.6% to 11,870, as upbeat corporate earnings bolstered sentiment toward technology shares. SpaceX posted net income that far exceeded market expectations, and Super Micro Computer also delivered stronger-than-expected results, helping to ease worries about stretched AI valuations and recent funding pressures that had unsettled the sector.

Among the standout gainers were Cambricon Technologies (up 1.2%), Hygon Information Technology (2.1%), Zhongji Innolight (2.5%), Eoptolink Technology (3.1%) and NAURA Technology (2.2%).

In contrast, CATL slumped 5.4% after its third-quarter earnings fell short of forecasts, with rising costs and other pressures eroding profit margins.

At the macro level, investors continued to weigh an improving economic growth outlook, which gives policymakers greater leeway to postpone additional stimulus. Even so, weak domestic investment and consumption remain notable headwinds to growth in the absence of more comprehensive policy support.