Hong Kong stocks close: Hang Seng Tech Index falls nearly 3%, Zhipu and MiniMax market caps defy the trend and surpass HKD 300 billion

2026-02-20 12:21:20

Hong Kong Hang Seng Index closed down 1.10%, Hang Seng Tech Index fell 2.91%. Internet technology stocks mostly declined, with Baidu down over 6% and Alibaba down nearly 5%. Semiconductor stocks weakened, with Huahong Semiconductor dropping nearly 6% and SMIC falling over 3%. The domestic AI large model sector defied the trend and closed higher, with Zhipu and MiniMax both surpassing a market value of 300 billion Hong Kong dollars.

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