Hong Kong Stocks Move: Large Model Concept Stocks Rally in Afternoon; JPMorgan Says Market Is Overly Pessimistic on Domestic AI Models, Remains Bullish on the Sector

Stock News11-04 14:20

Large model concept stocks rallied in the afternoon session, with Z.AI (02513) rising 6.33% to HK$470 and MINIMAX-W (00100) gaining 5.20% to HK$163.8.

On the news front, Hong Kong Exchanges and Clearing announced an expansion of its derivatives product suite, launching 12 new stock futures contracts on January 18, 2027, to increase investor choices and allow market participants to more flexibly meet trading and risk management needs. The 12 stocks involved include MINIMAX-W and Z.AI.

JPMorgan released a research report stating that demand for Chinese AI models is currently situated between two demand steps: programming and broader white-collar work. AI demand beyond programming has emerged later than the bank originally expected, but the bank believes the market is overly pessimistic and remains bullish on the sector, with Z.AI as its top pick.

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