The AI trade is back on, and Chinese stocks are looking attractive

Local fund managers are eyeing off Chinese artificial intelligence players amid a burst of renewed optimism in the sector that has sent tech stocks into a rally despite ongoing tensions stemming from the Iran war. The Philadelphia Stock Exchange Semiconductor Index, which tracks the 30 biggest Wall Street-listed chip stocks, rose nearly 2 per cent on Thursday (Friday AEST) – its 17th straight positive session, its longest streak in records that stretch back more than three decades. With month-to-date gains of roughly 40 per cent, the index is heading for its biggest rise since 2000. Loading…