Chinese stocks shot up to a 10-year-high on Friday, with the Shanghai benchmark surging above the 3,800 mark on renewed optimism over domestic artificial intelligence prospects.
The Shanghai Composite Index was 1.5% up when it closed at 3,825.76, the highest level since August 2015. That created a weekly gain of 3.5% – its best run since November 2024.
The blue-chip CSI300 Index rose 2.1% to a new 10-month high, and ended the week with 4.2% gain, while the tech-focused Star50 index was up 8.6%. The rise has domestic roots and contrasts with a decline in AI-related stocks in the US amid talk about an AI ‘bubble’ and a report noting that many businesses are getting little commercial benefit from AI investments.
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