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Shares of Moore Threads, seen as a rival to Nvidia, also jumped more than 400% on their first day of trading earlier this month.

On Chinese exchanges, technology stocks led gains amid renewed optimism around the AI trade, with Eoptolink rising 6.9%, Zhongji gaining 5.2% and Foxconn climbing 2.8%.

The CSI 300 Information Technology Index, which tracks the performance of IT companies within the CSI 300, has risen 32% year-to-date, while the benchmark CSI 300 is up 17% and Hong Kong’s Hang Seng Technology Index has gained 24% so far this year.

According to analysts, China’s Star Market — a Nasdaq-style technology exchange focused on strategic sectors such as semiconductors, artificial intelligence and biotechnology — is particularly attracting interest from foreign retail investors.

In China, the Shanghai Composite Index rose 0.6% to around 3,915, while the Shenzhen Composite Index climbed 1.1% on Monday to 13,288. The People’s Bank of China kept the one-year loan rate at 3.0% and the five-year loan rate at 3.5%, holding both at record low levels for the seventh consecutive month.