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Mainland investors rotate into Hong Kong AI tech, cut financials
MiniMax Group was the biggest beneficiary of the shift, with net buying of HK$10.1 billion (US$1.29 billion) in August.
Mainland Chinese investors increased purchases of Hong Kong-listed stocks tied to artificial intelligence in August, according to SCMP Economy, as they took advantage of a market dip to rotate into the perceived next phase of growth.
The outlet said the buying focused on AI model and related technology exposure, while investors reduced positions in more traditional sectors such as financials.
SCMP Economy reported that AI model developer MiniMax Group logged net buying of HK$10.1 billion, equivalent to US$1.29 billion, during the month, the largest net inflow among Hong Kong-listed companies highlighted as available.