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Investor sentiment weakened as markets reassessed the recent rally in artificial intelligence-related stocks, with concerns that share prices had risen too quickly. Technology stocks also came under pressure after reports that Apple is considering sourcing memory chips from Chinese manufacturers ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Co. (YMTC). The move could face scrutiny from US policymakers due to ongoing technology tensions between the US and China.
Among the biggest losers in the technology sector were Cambricon Technologies (-7.63%), SMIC (-6.72%), Hygon Information Technology (-7.89%), Zhongji Innolight (-6.55%), Eoptolink Technology (-11.56%), NAURA Technology (-10.00%) and Victory Giant Technology (-6.35%), reflecting broad-based weakness across the sector.
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