China Shares Rise Amid Nvidia's Blockbuster Earnings Rally; Shenzhen JLC Tech Up 10%

MT Newswires Live16:11

Chinese shares rose on Thursday, led by gains in tech stocks after chipmaker Nvidia's earnings beat expectations and its revenue doubled from a year ago.

The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.1% to 3,956.57. The Shenzhen Component Index went up 1.5% to 14,048.88.

The SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, went up 3.8%.

The bullish sentiment stemmed from Nvidia's soaring revenue, with the company earning $96.2 billion in the second quarter, a 106% rise from a year ago.

Revenue from sales to data centers, a big chunk of Nvidia's business, rose 117% to $89 billion in the second quarter, CNN reported.

In company news. Shenzhen JLC Technology (SHE:001232) will invest 1.5 billion yuan in a new printed circuit board and printed circuit board assembly production base in China's Guangdong Province. Shares of the circuit board manufacturer closed 10% higher Thursday.

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