Chinese Shares Rise on Friday on IT Prospects Boost

MT Newswires Live11-28

Chinese shares rose on Friday as the market remained bullish on information technology's prospects.

The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.3% to 3,888.60. The Shenzhen Component Index climbed 0.9% to 12,984.08.

Technology firms are now more resilient to disruptions thanks to robust cash generation and minimal dependence on borrowing for investment, The South China Morning Post cited Eva Lee Chi-wing, head of Greater China equities at UBS, as saying.

Lee said China's tech sector is at the forefront of AI deployment and could see earnings rise by as much as 37% in 2026, adding that valuations for Chinese tech shares remain "not expensive."

Meanwhile, China's industrial scale of intelligent manufacturing equipment, industrial software, and system solutions exceeded 4.5 trillion yuan as it built thousands of advanced smart factories within the country.

In company news, Guangdong Songfa Ceramics (SHA:603268) said shipbuilding arm Hengli Shipbuilding secured vessel construction orders worth between $1.1 billion and $1.6 billion from Eastern Pacific Shipping. Shares of the company closed 5% higher Friday.

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