HK Stock Market Move | Large language model concept stocks rallied in the afternoon; JP Morgan says the market is overly pessimistic about domestic AI models and remains bullish on the sector.
Large language model concept stocks rallied in the afternoon. As of press time, Zhipu (02513) rose 6.33% to HK$470, and MINIMAX-W (00100) rose 5.20% to HK$163.8.
Large language model concept stocks rallied in the afternoon. As of press time, Z.AI (02513) rose 6.33% to HK$470; MINIMAX-W (00100) rose 5.20% to HK$163.8.
On the news front, HKEX announced the expansion of its derivatives product suite, and will launch 12 new stock futures contracts on January 18, 2027, to increase investor choice and allow market participants to more flexibly meet trading and risk management needs. The 12 stocks involved include Minimax, Z.AI and others.
JP Morgan released a research report stating that demand for Chinese AI models is currently between two demand steps: coding and broader white-collar work. AI demand beyond coding has emerged later than the bank originally expected, but the bank believes the market is overly pessimistic, remains bullish on the sector, and has Z.AI as its top pick.
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