Shares of Chinese semiconductor suppliers Biwin Storage Technology and Moore Threads tumbled on Thursday alongside a broader rout in mainland technology stocks, despite blockbuster third-quarter revenue driven by strong artificial intelligence demand.
Both stocks plunged more than 10 per cent during Thursday morning trading, reversing Wednesday’s rallies of 8.4 per cent for Biwin and 5.8 per cent for Moore Threads.
The tech-heavy Star 50 index in Shanghai also dropped more than 4 per cent, deepening a slide that had already seen the bourse lose more than 40 per cent of its value from a July peak as of Wednesday’s close.