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Hang Seng Tech Index Drops Nearly 3%, Yet Zhipu and MiniMax Buck Trend with Market Caps Soaring Past HK$300 Billion
15 hour ago /
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Author：小编
On February 20, the Hong Kong Hang Seng Index ended the day 1.10% lower, and the Hang Seng Tech Index took a steeper hit, plummeting 2.91%. The overall landscape saw internet technology stocks in retreat, with Baidu’s shares tumbling more than 6% and Alibaba’s dipping close to 5%. The semiconductor sector, too, faced headwinds, as Hua Hong Semiconductor saw its value erode by nearly 6% and SMIC’s shares fell over 3%.
In a striking contrast, the domestic AI large-model sector defied the market downturn. Zhipu’s stock skyrocketed nearly 43%, while MiniMax climbed over 14%. Both companies achieved a remarkable feat, with their market capitalizations surging past the HK$300 billion milestone.
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