Chinese Shares Rebound on Tech IPO Optimism; MetaX Soars 693% in Shanghai Debut

MT Newswires Live2025-12-17

Chinese shares rebounded from two days of losses to end higher on Wednesday as investor appetite for artificial intelligence-related stocks was reignited by recent listings of technology companies.

The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.2% to 3,870.28. The Shenzhen Component Index surged 2.4% to 13,224.51.

MetaX Integrated Circuits (Shanghai) (SHA:688802) debuted on the Shanghai bourse on Wednesday, opening at 700 yuan per share. At the end of the trading day, the graphics processing unit chip manufacturer closed 693% higher than its initial public offering price of 104.66 yuan.

This surge renewed investor confidence in China's artificial intelligence-related stocks, Bloomberg News reported.

"Chinese investors gained confidence with the help of technology IPOs at year-end, which made it easier for funds to drive the stock index higher," Bloomberg cited Shen Meng, director at investment bank Chanson & Co., as saying.

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