Bloomberg reports MiniMax Group Inc. was the most popular Hong Kong-listed stock for mainland investors in August. Mainland buyers spent HK$10.6 billion (about $1.4 billion) on MiniMax shares that month via the Stock Connect channel, a total higher than those for Alibaba Group and Tencent Holdings. MiniMax became eligible for Shanghai-Shenzhen-Hong Kong Stock Connect trading on Aug 6, and southbound investors have since accumulated a 9.7% stake.
Mainland Chinese investors bought HK$10.6 billion (about $1.4 billion) of MiniMax Group Inc. stock through Stock Connect in August, according to Bloomberg. The AI model developer thus became the most popular Hong Kong-listed stock among mainland investors last month, with the purchase amount exceeding what they put into Alibaba Group and Tencent Holdings.
MiniMax shares have been tradable under the Shanghai-Shenzhen-Hong Kong Stock Connect scheme since Aug 6. Southbound investors have accumulated a 9.7% stake in the AI startup since that date, Bloomberg said.
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