Chinese tech hardware stocks suffered a sharp decline on October 9, 2026, with the STAR 50 Index dropping as much as 4.6% and extending a two-day decline of more than 9%, marking its steepest slide since July. This selloff followed a 70%-plus rally between April and July 2026, which gave way to the sector’s worst quarterly performance on record. Some of the year’s biggest AI and semiconductor names suffered even more, with Biwin Storage Technology and Moore Threads Technology each falling at least 40% in the third quarter. Despite the correction, the STAR 50 still trades at around 100 times forward earnings, well above global semiconductor benchmarks.
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