China stocks gain as government pushes AI initiative
Chinese stocks got a boost on Wednesday after the government released its "AI Plus" initiative to ramp up artificial intelligence across different industries.
By midday Wednesday, major indexes like the CSI300 and Shanghai Composite were both up, and Hong Kong's tech sector also saw a lift—even if the overall market stayed flat.
AI, cloud, and semiconductor stocks lead the charge
AI, cloud computing, and semiconductor stocks led the charge—China's CSI AI Index hit a record high with a 5.5% jump, and Cambricon Technologies soared over 8% after swinging to profit in the first half of 2025.
Still, not everything is rosy: industrial profits have been slipping for months, so analysts are cautious about how long this rally can last.
Investors will be watching closely for updates at the Fourth Plenary in October.