Key facts
- Biwin and Moore Threads shares fell more than 10% on Thursday.
- Both companies reported strong third-quarter revenue driven by AI demand.
- The Star 50 index dropped over 4%.
Shares of Chinese semiconductor suppliers Biwin Storage Technology and Moore Threads tumbled on Thursday, alongside a broader rout in mainland technology stocks. Both companies experienced a more than 10% drop in their stock prices during morning trading, reversing gains from the previous day. This decline occurred despite strong third-quarter revenue results, which were boosted by high demand for artificial intelligence products. The tech-heavy Star 50 index in Shanghai also saw a significant decrease of over 4%.