Chiragh, lying tied second overnight, is now five-under 211 for 54 holes and is five shots behind the new leader, Korean-American Chan Kim, who shot 68 to move to 10-under at the Linkou International Golf and Country Club.
Defending champion Gaganjeet Bhullar (74) also slipped from overnight tied ninth to 22nd, while Rahil Gangjee (76) had even bigger fall from overnight 22nd to tied 47th.
Chan, an Asian Tour rookie, who won the Qualifying School in January, is one shot clear of reigning Order of Merit winner Thaworn Wiratchant of Thailand (71) and Chinese Taipei's Yeh Wei-tze (67). The Asian Development Tour (ADT) graduate Hsu Mong-nan was a further shot back.
On the back nine, he birdied 10th, but bogeyed 12th and 16th to finish with a 74.