Hong Kong stocks AI and robotics explode! Zhipu soars 21%, Yuejiang up over 20%, tech stocks plunge

February 20th, the first trading day of the Year of the Horse in Hong Kong stocks, the three major indices all opened lower. As of the time of writing, the Hang Seng Index fell 1.01%, the Hang Seng Tech Index dropped 2.17%, and the Hang Seng China Enterprises Index declined 1.1%.

On the market, AI, robotics, oil, and non-ferrous metals sectors led the gains, while consumer and media sectors saw the largest declines.

AI application stocks performed strongly against the trend. As of the time of writing, Zhipu increased over 21%, Haizhi Technology Group rose 23%, and MINIMAX-WP gained 10%. In terms of news, on February 16th, Zhipu announced the launch of the “Compute Power Partner” recruitment plan. This includes: 1. Chip manufacturers, with Zhipu willing to open core technology interfaces and jointly develop underlying optimizations for GLM-5. 2. Compute power partners and inference service providers: building a higher concurrency, lower latency inference network. 3. Other forms of compute power cooperation.

Semiconductor concepts surged, with Lanke Technology rising 3.22% to HKD 217.80, reaching a new high since listing, with a total market value of HKD 266.195 billion. Tianzhi ZhiXin increased 4.68% to HKD 281.60, also hitting a record high, with a total market value of HKD 71.616 billion.

Robotics concepts soared, with Yuejiang up over 20%, Suteng Juchuang nearly 12%, UBTECH rose 10%, and Sanhua Intelligent Control increased over 3%. According to news, the Year of the Horse Spring Festival Gala sparked a robotics craze. Four robotics companies—Songyan Power, Yushu Technology, Magic Atom, and Galaxy General—appeared in programs including sketches, martial arts, songs, and micro-movies. A series of spectacular robot performances not only attracted widespread audience attention and went viral on social media but also boosted platform sales.

Oil stocks exploded, with China National Offshore Oil Corporation rising 2.23% to HKD 25.70, hitting a record high, with a total market value of HKD 1.22152 trillion.

Most tech stocks in Hong Kong are in the red. Kingdee International fell over 5%, Baidu dropped over 5%, Alibaba and Bilibili declined over 4%, NetEase fell over 3%, and Tencent declined over 2%.

Precious metals gold and silver saw adjustments. As of the time of writing, spot gold fell 0.11%, and spot silver declined 0.29%. Goldman Sachs stated that overall, central bank gold purchases and private investors increasing gold exposure due to Federal Reserve rate cuts will gradually push gold prices to slowly rise to $5,400 per ounce by the end of 2026.

(Source: 21st Century Business Herald)