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Investing.com-- Zhipu AI and MInimax shares rose sharply on Friday after Bloomberg reported the two were viewed as top contenders for inclusion in some Hang Seng indexes.
Zhipu– which trades as Knowledge Atlas Tech Joint Stock (HK:2513), jumped 26.2%, while MiniMax Group Inc (HK:0100) surged nearly 17%.
Bloomberg reported the companies were viewed as leading contenders for inclusion in the Hang Seng TECH and composite gauges, when Hang Seng Indexes Co conducts its quarterly review on Friday.
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Both stocks have surged at least 300% since listing in January, as investors piled into the two on hype over China’s artificial intelligence ambitions.
The two are part of China’s so-called “AI Tigers,”-- a group of startups that are seen at the forefront of the country’s development in the fast-growing technology.
An entry into the indexes would make Zhipu eligible for the Mainland stock connect program by as early as June, the Bloomberg report said, opening the company up to even more inflows. Minimax could qualify by August.
Zhipu could attract southbound buying of HK$51 billion-HK$92 billion ($6.5 bln-$11.7 bln), while Minimax could see inflows of up to HK$47 billion.
