On June 4, Hong Kong stocks extended their losses, with tech stocks acting sluggish as the AI frenzy cooled. Most LLM concept stocks declined, with XUNCE and KUAISHOU-W being the rare exceptions, while the semiconductor sector shone brightly as a standalone outperformer. Meanwhile, industry capital and tech advancements remained highly active: DeepSeek is reportedly raising USD 7 billion in China's largest-ever AI financing round; WeChat partnered with Huawei, Honor, and others to enable A2A (Agent-to-Agent) interoperability, allowing native OS AI assistants to directly invoke WeChat functions; and Doubao announced an upcoming Pro version while pledging to keep daily core features free for general users.
On June 3, Hong Kong stocks closed lower as heavyweight tech stocks retreated, but AI hardware and LLM concept stocks bucked the trend, with ZHIPU AI and MINIMAX-W both posting gains. The sector's capitalization process is rapidly accelerating: ZHIPU AI and MINIMAX-W are concurrently advancing their A-share STAR Market IPO plans, while Kuaishou's Kling AI is raising Pre-IPO funds at a USD 18 billion valuation, targeting a 2027 Hong Kong listing. Additionally, reports indicate that Tencent's WeChat AI agent prototype has been elevated to the company's highest strategic priority, marking a dual acceleration in LLM commercialization and capital deployment.
On June 2, Hong Kong tech stocks exploded, with the Hang Seng TECH Index surging 4.72% as the AI and LLM sectors led the broader market rally. TENCENT soared over 10% fueled by WeChat AI assistant rumors and share buybacks, while MEITUAN-W and BABA-W also posted strong gains. In industry news, NVIDIA's Jensen Huang declared the arrival of the "Agentic AI" era and the company's official entry into the PC chip market; MININGLAMP-W was included in the Stock Connect; and MINIMAX-W launched its 1M-context model MiniMax M3 with highly competitive subscription pricing, further intensifying the commercialization race in the LLM sector.
NewTimeSpace (newtimespace.com) News, On June 1, 2026, Mininglamp Technology-W (2718.HK) was officially included as an eligible trading asset under the "Stock Connect" program. This means that qualified institutional and retail investors from Mainland China can now directly trade its shares through the Stock Connect channel. Mininglamp Technology-W (2718.HK) as the "first Agentic AI stock on HKEX,"，Choice data shows that as a prominent large model concept stock, Mininglamp Technology-W (2718.HK) has delivered a powerful performance, with its share price surging over 40% since May.
On June 1, Hong Kong stocks rallied alongside AI tech sectors, though LLM concept stocks diverged. MEITUAN-W and SENSETIME-W surged over 6%, while ZHIPU AI and MINIMAX-W retreated sharply. In other news, Meituan reported Q1 revenue growth but swung to a net loss, SenseTime launched an AI micro-drama base in Shanghai, and OpenAI is reportedly developing an AI smartphone to rival the iPhone.
On May 29, Hong Kong stocks trended higher, with Lenovo surging 22% on AI server optimism and Baidu leading LLM concept stocks. Globally, Anthropic's valuation hit USD 965 billion, surpassing OpenAI as it launched its new flagship model. Meanwhile, Meituan rolled out two major AI commercial products for on-demand retail, and Tencent introduced the Hy-Memory plugin for Agents, accelerating AI application deployment.
On May 28, Hong Kong stocks closed lower, but the AI and semiconductor sectors rallied. ZHIPU AI surged 13.54% to a new record high, while MININGLAMP-W secured a seven-day winning streak. Meanwhile, global top-tier LLMs achieved milestone breakthroughs in mathematical reasoning, Tencent Cloud launched its full-stack Agent products overseas, and Kuaishou's Kling AI reported Q1 revenue exceeding RMB 650 million.
NewTimeSpace News: During the morning session on May 28, 2026, the three major Hong Kong stock indices continued to decline, while large model concept stocks bucked the trend and strengthened. As of 10:27 AM, Zhipu (2513.HK) rose by 3.02%, continuing to refresh its all-time high by reaching HK$1,467.00, while Mininglamp Technology-W (2718.HK) followed the upward trend.Since May, among the large model concept stocks, Zhipu and Mininglamp Technology-W have welcomed a powerful surge, with both stocks posting gains exceeding 50%, leading a crowd of related equities.
On May 27, Hong Kong stocks retreated, but AI and semiconductor sectors rallied. ZHIPU AI hit a record high, surpassing a HKD 650 billion market cap, while MINIMAX-W and MININGLAMP-W surged. Meanwhile, Xiaomi slashed its LLM API prices by 99%, and ZHIPU AI co-founded a new AI venture fund.
NewTimeSpace (newtimespace.com) News: On May 27, 2026, the Hang Seng Tech Index in the Hong Kong stock market continued to climb in morning trading, gaining 0.86% as of 10:15 AM. large model concept stocks had performed remarkabl since the beginning of May: Zhipu (2513.HK) rose over 60%, Mininglamp Technology-W (2718.HK) rose nearly 50%, and MINIMAX-W (0100.HK) gained over 15%.
The AI industrial chain continued to explode. Mininglamp Technology-W surged by 18.95%, Zhipu rose by 4.91%, while stocks such as Xunce, SenseTime-W, and baba-W followed the upward trend. Lenovo Group continued its sharp rally, rising 15.5% as the company's financial results significantly beat market expectations, with its full-year AI-related revenue doubling year-on-year. 51World continued to surge by 27.55% following the official launch of its embodied AI data platform, Aperdata.ai.
From the explosion of API demand at the model layer for Zhipu and MiniMax, to the rapid rise in the proportion of generative AI for SenseTime, and further to Xunce and Mininglamp Technology validating their value in vertical data services and enterprise-level scenarios respectively, differentiation and acceleration constitute the most definitive narrative main line for the AI sector in 2026.
NewTimeSpace News, On May 26, 2026, the Hang Seng Tech Index in the Hong Kong stock market fluctuated and rose sharply in morning trading.As of 10:44 AM on May 26, 2026, the large model concept stock Mininglamp Technology-W (2718.HK) rose by 4.62%, leading the gains among Hong Kong-listed large model concept stocks. Meanwhile, Kuaishou-W (1024.HK) rose by 1.18%, SenseTime-W (0020.HK) rose by 0.63%, Zhipu (2513.HK) fell by 2.42%, and MINIMAX (0100.HK) fell by 7.87%.
Although the Hong Kong market was closed for a public holiday on May 25, the AI LLM supply chain has remained the market's strongest driving force throughout the month, with KNOWLEDGE ATLAS (02513.HK) and MININGLAMP-W (02718.HK) surging 47.70% and 21.01% month-to-date, respectively.
China's AI industry has been experiencing a comprehensive resonance extending from macro policies to micro financial data. Weighty documents from the State Council made it clear that artificial intelligence legislation is accelerating, the National Development and Reform Commission (NDRC) is planning to issue supporting documents for "AI+", ByteDance has increased its AI capital expenditure, and both Zhipu and MiniMax have been included in the Hang Seng Tech Index. Following the NDRC press conference on May 22, Hong Kong-listed AI concept stocks shot up in a straight line. Zhipu (2513.HK) once surged over 30%, hitting another historical high, while MINIMAX (0100.HK), Mininglamp Technology-W (2718.HK), and Xunce (3317.HK) all rallied strongly.
On May 22, Hong Kong stocks rebounded, with the Hang Seng Index (HSI) rising 0.86% and the Hang Seng TECH Index surging 2.11%. The AI supply chain emerged as the main driving force: ZHIPU AI soared nearly 27%, MINIMAX jumped over 15%, Lenovo Group skyrocketed by 19.8%, and 51World surged 28.9%. In industry news, reports indicated that OpenAI is preparing for an IPO with Q1 revenue reaching approximately USD 5.7 billion; ZHIPU AI launched its GLM-5.1 HighSpeed API with an output speed of 400 tokens/s; and Tencent will host its first-ever Public Open Day from May 30 to 31.
