On June 5, Hong Kong stocks closed lower, with the Hang Seng Index breaking below the 25,000-point mark. The semiconductor and LLM sectors underwent a deep correction, highlighted by sharp declines in ZHIPU AI and MINIMAX-W, though AI application equities diverged, with Youjia Innovation surging on an acquisition that accelerates its L4 autonomous driving commercialization. In industry news, Anthropic warned of AI autonomy risks and urged a global development pause. Meanwhile, China's domestic LLM commercialization accelerated: Huawei Cloud partnered with over 20 top-tier vendors to launch a new cloud ecosystem, and Alibaba's Qianwen fully opened to third-party Agents with major brands like Luckin Coffee and KFC going live, underscoring the ongoing shift toward enterprise-level AI productivity.
NewTimeSpace (newtimespace.com) News,on June 5, 2026, UBTECH (09880.HK) surged during intraday trading before pulling back, with its intraday gain once exceeding 4%, ultimately closing down 0.09%.
Mininglamp Technology-W (2718.HK), a prominent large model concept stock, is also referred to by the market as the "first Agentic AI stock on HKEX." It was officially listed on the Main Board of the Stock Exchange of Hong Kong on November 3, 2025, making it the first listed company on the Hong Kong stock market to possess a complete technology stack for Agentic AI autonomous intelligent agents.
Choice data shows that Orient Artificial Intelligence Theme Hybrid Fund-A (005844) and Orient Artificial Intelligence Theme Hybrid Fund-C (017811) have delivered robust performances, rising by 26.58% and 26.54% respectively over the past month, and surging by 70.48% and 70.19% respectively since the beginning of 2026.
At 09:41 on June 5, 2026, XPENG-W (09868.HK) dipped slightly during morning session at HK$65.3, down 1.73%.
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.
