Hang Seng falls 2% as MiniMax briefly slips below IPO issue price

The story so far: MiniMax and Zhipu share declines

Hong Kong-listed AI model makers Zhipu and MiniMax have fallen together, with Zhipu dropping more than 5% below HK$500 and MiniMax down 6.64%. AI shares weakened again, with Cambridge Technology down 6.93%, Zhipu 6.80%, MINIMAX-W 6.01% and Manycore Tech 5.49%.

1. 19 Oct 202613:15 UTC

   AI trade faces test from Meta and Tesla earnings this week

   US stocks are set for a positive start this week after chip shares fell heavily last week, with earnings from Meta and Tesla due to test confidence in the AI trade. Investors are weighing whether firms can sustain profit growth while funding a costly, debt-reliant investment boom.

   AIOdailyAINeutral

2. 20 Oct 202605:19 UTC

   Hong Kong-listed AI model makers Zhipu and MiniMax both fall

   Zhipu (02513.HK) fell more than 5%, taking its share price below HK$500, while MiniMax-W (00100.HK) dropped 6.64% as the two Hong Kong-listed large-model firms declined together.

   AIOdailyAINeutral

3. 22 Oct 202602:21 UTC

   Hang Seng falls 2% as MiniMax briefly slips below IPO issue price

   Hong Kong's Hang Seng Index fell 2% to 23,178.37 points, and MiniMax fell as much as 6.2%, briefly dropping below its IPO issue price.

   MacroChainCatcherAIBearish

4. 25 Oct 202606:03 UTC

   AI trade sell-off deepens as Meta's large debt plan draws scrutiny

   AI-linked trades faced renewed selling pressure over the past week, with the Nasdaq posting its worst single day in months and the risk premium on high-yield US debt rising to a 17-month high. Barclays said in a 23 October research note that Meta chose to raise funds early partly because other AI firms have started or plan to raise capital, with the market's capacity to absorb it becoming more limited.

   AIChainCatcherAIBearish

5. 26 Oct 202601:39 UTC

   Hong Kong-linked contracts extend losses, MINIMAX down 7.2% in an hour

   Several Hong Kong-related contracts fell further, with MINIMAX down 7.2% in an hour and 5.3% over 24 hours to $22.36. HK0992 fell 6.2% over 24 hours to $21.24 and ZHIPU dropped 5.7% in an hour to $61.55.

   AltcoinsOdailyAIBearish

6. 30 Oct 202601:29 UTC

   Hong Kong AI shares fall, with Cambridge Technology down nearly 7%

   Hong Kong-listed artificial-intelligence shares weakened, with Cambridge Technology (06166.HK) down 6.93%, Zhipu (02513.HK) down 6.80%, MINIMAX-W (00100.HK) down 6.01% and Manycore Tech (00068.HK) down 5.49%.

   AIOdailyAINeutral