A-Share Three Major Indices Open 0.3%-1.2% Higher, LQKJ Opens Nearly 4% Higher
AASTOCKS News·- China's Ministry of Finance will issue RMB 300 billion of special treasury bonds to inject capital into 8 central financial enterprises. - The RMB central parity against the USD was set at 6.7795, dropping 8 bps QoQ. - The three major A-share indices opened 0.3% to 1.2% higher, with the Shanghai Composite Index opening up 0.32% at 3,942.JPM: China's AI Infrastructure Ecosystem Growth Unprecedented Despite Bottlenecks; Favors ILUVATAR COREX , SMIC and Others
AASTOCKS News·- JPMorgan released a report highlighting the unprecedented growth of China's AI infrastructure ecosystem, driven by local model advancements and increased cloud investments despite chip restrictions. - The bank projects domestic AI computing power demand to record a CAGR of about 80% through 2030, with China potentially satisfying 80% of AI infrastructure demand using domestic chips by 2028. - JPMorgan's top stock picks benefiting from this localization trend include ILUVATAR COREX, SMIC, and several other semiconductor and tech supply chain firms.