Zhipu AI, MiniMax shares to provide gut check for Hong Kong investors as lock-ups end

Hong Kong’s stock market could face sell-off pressure amid a torrent of new share supply in coming days as the six-month lock-up period ends for hot artificial intelligence and semiconductor picks including Zhipu AI and MiniMax. Meanwhile analysts warned of rising fears of a drain on liquidity as many of the same companies were eyeing large secondary share placements. The market was facing dual selling pressure, said Stevan Tam, associate director at Fulbright Financial. “These stocks have...