More than $1 billion is poised to flow into the underperforming Hang Seng Tech Index, thanks to the upcoming inclusion of two Chinese artificial intelligence companies, according to Morgan Stanley. Hong Kong’s technology stock index has tumbled more than 11% so far this year, despite excitement over Chinese AI. Only seven of the index’s constituents have risen in 2026, led by Hua Hong Semiconductor, Lenovo, JD, Midea and several electric car stocks. Meanwhile, generative AI model companies Knowledge Atlas Technology , which runs Zhipu AI, and MiniMax , have both skyrocketed since they went public in Hong Kong in January. Both stocks are expected to join the Hang Seng Tech Index on June 8, driving $1.25 billion to $1.75 billion in passive inflows, the Morgan Stanley analysts said in an April 27 report. The analysts raised their price targets on each stock: Knowledge Atlas to 990 Hong Kong dollars ($126.37) from 560 HKD, and MiniMax to 1,100 HKD from 990 HKD. Zhipu’s models are known for their coding capabilities, while MiniMax has stood out more for its breadth of AI capabilities from text to audio generation. MiniMax has also been a popular choice for OpenClaw AI agent users since, like many Chinese AI models, it is relatively cheaper to use than its U.S. peers. However, that is changing as more people use Chine …
