Strong Industrial Profit Data Boosts Chinese Shares; Moore Threads Technology Jumps 8%
Chinese shares rose on Monday as strong first-quarter industrial profit data boosted investor sentiment.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.2% to 4,086.34. The Shenzhen Component Index climbed 0.4% to 14,995.75.The total profits of China's industrial enterprises in the first quarter jumped 15.5% year on year to 1.696 trillion yuan.Profits in the mining industry rose 16.2% from a year earlier to 256.33 billion yuan, while that of the manufacturing industry climbed 19.1% to 1.238 billion yuan. The utilities industry's profits slipped 3.2% year on year to 201.3 billion yuan.The profits of the technology industry and the non-ferrous metal industry both rose 1.2 times.In company news, Moore Threads Technology (SHA:688795) swung to an attributable net profit of 29.4 billion yuan in the first quarter of 2026 from a net loss of 112.5 million yuan a year prior. Shares of the graphics processing unit manufacturer closed 8% higher Monday.