Mainland Chinese investors buy Hong Kong AI stocks, sell financials

Mainland Chinese investors rotated into Hong Kong-listed AI and tech stocks for a third consecutive month in August, while selling off financials and traditional industries. AI model developer MiniMax attracted the most net buying at HK$10.1 billion (US$1.29 billion), followed by Alibaba (HK$7.86 billion) and Tencent (HK$6.72 billion), according to Wind data.

Why it matters: The Hang Seng Tech Index dropped 4.3% in August, offering a dip-buying opportunity as mainland traders — who account for about 30% of Hong Kong stock transactions — piled into AI names while offloading Hua Hong (HK$3 billion) and Meituan (HK$2 billion).