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| HSI1 | 26,413.35 | -292.59 | 165.37B |
| HSCEI1 | 8,959.56 | -110.76 | 56.61B |
| Back Zoom + Zoom - Block Traded | |
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3 AI Large Model Semi-IPOs Hit Peaks; KNOWLEDGE ATLAS, HAIZHI TECH GP Surge ~20%; MINIMAX-WP Rated Buy by Jefferies
2026-02-20 11:19:33 Today (20th) marks the first trading day for Hong Kong bourse after the Lunar New Year (LNY) holiday. The HSI started 48 points lower; with deeper downswing in the morning session, it plummeted 348 points to bottom at 26,356. The latest print showed 26,577, down 128 points or less than 0.5%, with a turnover of HKD83.242 billion. Mainland China's A-share market is closed for the LNY holiday and will resume trading next Tuesday (24th). Sustaining the robustness before the holiday, three semi-IPOs in AI large model sector continued to be speculated upon. MINIMAX-WP (00100.HK) opened 5.43% higher, and once shot up 15.7% in the morning session, reaching a peak of HKD980, setting a new high since listing. It last posted at HKD920, up 8.62%, with a turnover of HKD1.976 billion. Jefferies initiated coverage on MINIMAX-WP with a Buy rating, forecasting a 49x 2028 P/S, corresponding to a target price of HKD1,118. Jefferies believed the global foundational model market is still in its early stages with strong growth prospects. MINIMAX-WP is rapidly emerging as a multimodal model provider in the global market, leveraging its AI-native product suite centered on intelligence and open platform to create a sustainably scalable business model. Jefferies expected the company to achieve profit by 2030. KNOWLEDGE ATLAS (02513.HK) opened 5.12% higher and swelled 25% to a peak of HKD635, setting a new high since listing. It last traded at HKD607, up 19.49%, with a turnover of HKD1.615 billion. HAIZHI TECH GP (02706.HK) opened 15% higher and once leapfrogged 28.7% to a peak of HKD154.4. It last printed at HKD141.8, up 18.17%, with a turnover of HKD535 million. Other major AI-related stocks traded mixed, with blue-chip stocks having AI exposure being weaker. BIDU-SW (09888.HK) last traded at HKD129.7, down 5.74%, with a turnover of HKD1.24 billion. BABA-W (09988.HK) last stood at HKD148.9, down 3.75%, with a turnover of HKD5.081 billion. KUAISHOU-W (01024.HK) was last at HKD66.65, down 2.56%, with a turnover of HKD536 million. TENCENT (00700.HK) last logged at HKD521, down 2.25%, with a turnover of HKD5.414 billion. ~ AASTOCKS Financial News Website: www.aastocks.com | |