China Stocks Rebound on Tech Boost

China Stocks Rebound on Tech Boost

The Shanghai Composite edged up 0.1% to around 3,935 on Wednesday, while the Shenzhen Component advanced 0.8% to 14,372, rebounding from the previous session as technology shares led the recovery.

Sentiment in the sector improved after CoreWeave posted stronger-than-expected revenue growth and Super Micro Computer issued an upbeat revenue forecast that exceeded expectations.

In China, investors also looked ahead to earnings from Semiconductor Manufacturing International Corp. (SMIC), due on Thursday, which could offer fresh insight into chip demand.

Zhongji Innolight (1.7%), Eoptolink Technology (2.2%), NAURA Technology (1.6%), and Victory Giant Technology (1.4%) were among the sector's top gainers.

Risk appetite was also supported by easing Middle East tensions after Pakistan’s defense minister said that the US and Iran were "close to some sort of arrangement" regarding the Strait of Hormuz, while separate reports suggested talks between Iran and Oman had reached an advanced stage.