CXMT Shares Fall 6.5% After US Selloff and Despite Profit Turnaround

ChangXin Memory Technologies (CXMT) shares fell as much as 6.5% on Monday as Friday’s US chip selloff reached Asia, even though the company forecast a profit turnaround for the first nine months of 2026. China’s largest memory maker said Friday it expects net profit of at least 131 billion yuan, about $19.6 billion, against a 5.28 billion yuan loss a year earlier. Investors sold anyway. Why Did CXMT Shares Fall Despite a Profit Turnaround? The Nasdaq Composite lost more than 2% on Friday, while the S&P 500 fell 1.1% to end its worst week since June in a chip-led Wall Street selloff . Concerns over debt-funded AI spending and expectations of faster interest-rate hikes then carried that weakness into Asia on Monday, AJP reported.

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