Mainland Chinese investors buy Hong Kong AI stocks, sell financials

and pulled out of companies in traditional industries in August, taking advantage of a market dip to boost bets on the world’s most cutting-edge technology.

AI model developer MiniMax Group

logged net buying of HK$10.1 billion (US$1.29 billion) last month, the most among the Hong Kong-listed companies available for China’s onshore investors through the Stock Connect

programme, according to data compiled by Wind Information. Alibaba Group Holding

and Tencent Holdings

, the Chinese hyperscalers that have ramped up AI adoption, ranked second and third, attracting buying of HK$7.86 billion and HK$6.72 billion, respectively.