Chinese AI firms MiniMax Group and Knowledge Atlas Technology, also known as Zhipu, joined the Hang Seng Tech Index on Monday, becoming the first AI-only companies in Hong Kong’s benchmark technology index.

Analysts said the move could trigger passive-fund buying tied to the index.

Morgan Stanley said in April that the two stocks could eventually make up 5% to 7% of the index, implying US$1.25 billion to US$1.75 billion in passive inflows.

Their initial weights are 0.36% for MiniMax and 0.53% for Zhipu.

Analysts said the additions could improve liquidity as index-tracking funds rebalance their portfolios. Products tracking the benchmark would need to adjust holdings.

MiniMax fell 8.4% to HK$506, (US$65) and Zhipu rose 1.3% to HK$1,314, (US$170) while the Hang Seng Index dropped 1.2% and the Hang Seng Tech Index lost 2.7%.

🔗 Source: South China Morning Post

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