According to the report and MSX.COM data, Zhipu shares swung sharply after a record high as profit-taking, heavy retail participation, and limited institutional holdings drove volatility in Hong Kong AI concept stocks.
Zhipu shares surged more than 23% to HK$1,993 before reversing into losses, with MSX.COM data showing the stock later fell to HK$1,540 and then recovered to HK$1,613. The report attributed the sharp volatility to profit-taking after a record high, alongside heavy retail participation and limited institutional holdings in Hong Kong AI concept stocks.