The Shanghai Composite jumped 1.19% to close at 3,870 while the Shenzhen Component rallied 2.4% to 13,225 on Wednesday, recovering losses from earlier in the week as technology stocks rebounded and a blockbuster IPO debut lifted sentiment.
Chinese chipmaker MetaX Integrated Circuits soared more than 700% on its market debut after raising $600 million in its IPO. Similar to Moore Threads, which listed earlier this month, MetaX develops graphics processing units for artificial intelligence applications.
Other notable gainers in the technology sector included Eoptolink Technology (+9.6%), Zhongji Innolight (+6.9%), Foxconn Industrial (+4.3%), Suzhou TFC Optical (+9.3%), and Victory Giant (+6%).
Meanwhile, property developer China Vanke requested to extend the grace period for a 2 billion yuan bond payment from the current five trading days to 30, stoking concerns of a potential default.
Sumber : tradingview.com
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