Shares of two Chinese artificial intelligence companies rallied strongly on Friday following a Bloomberg report that identified them as leading candidates for addition to several Hang Seng indexes.
Knowledge Atlas Tech Joint Stock, which trades as Zhipu AI (HK:2513), surged 26.2% on the session. MiniMax Group Inc (HK:0100) climbed nearly 17%.
According to the report, both firms were seen as front-runners for inclusion in the Hang Seng TECH index and the broader Hang Seng composite gauges when Hang Seng Indexes Co carries out its quarterly review on Friday. The Bloomberg coverage framed the companies as top contenders rather than confirming final additions.
Investor demand for the two names has been intense since their listings in January. Each stock has increased by at least 300% from its initial public offering level this year, reflecting heightened market interest in businesses associated with China’s AI ambitions. The companies are frequently referenced as part of the cohort known informally as China’s "AI Tigers," a group of startups viewed as central to the country’s push in AI technology.
Index inclusion would have immediate practical consequences. The Bloomberg report noted that an entry would make Zhipu eligible for participation in the Mainland stock connect program as early as June, while MiniMax could qualify by August. Such eligibility would open both companies to additional sources of capital, particularly southbound investors.
Bloomberg’s estimates cited potential southbound buying flows: Zhipu could draw between HK$51 billion and HK$92 billion, equivalent to roughly $6.5 billion to $11.7 billion, while MiniMax might attract inflows up to HK$47 billion.
The companies’ recent price trajectories, coupled with the possibility of index inclusion and subsequent access to Mainland investment channels, underpinned the heavy trading and sharp gains on the day. The quarterly review by Hang Seng Indexes Co is the immediate catalyst referenced in the report.
Market context and takeaway
- Bloomberg identified Zhipu and MiniMax as leading contenders for Hang Seng TECH and composite index inclusion during the quarterly review.
- Zhipu (HK:2513) rose 26.2% and MiniMax (HK:0100) climbed nearly 17% following the report.
- Both stocks have advanced at least 300% since their January listings and are part of a group referred to as China’s "AI Tigers."