Tech Brief (Aug. 6): U.S. Drafts Ban on Chinese Optical Modules, Exposing Mutual Supply Chain Risks

MiniMax shares surge after joining Hong Kong Stock Connect

Shares of Chinese AI specialist MiniMax surged Thursday after the company was added to a program linking Hong Kong and Chinese mainland stock markets. The stock jumped as much as 22.8% to HK$311.60 ($39.73) during the trading day, pushing the company’s market capitalization back above HK$100 billion. With the addition, Hong Kong-listed MiniMax joins Luxshare Precision Industry Co. Ltd. and Chaozhou Three-Circle Group Co. Ltd. as the latest mainland companies to be included in the channel. MiniMax’s inclusion opened the AI company’s stock to support from mainland buyers at a time when its valuation had come under pressure from an immense share unlock and escalating price war in China over large language models.