Hong Kong AI App Stocks Slide; Zhipu Down Over 10%

The selloff is broad rather than name-specific, hitting application-layer listings from enterprise software to consumer imaging and model developers alike, which points to sentiment toward the AI application trade as a group rather than any single company's news. That matters because Hong Kong has become the main venue where public-market capital expresses views on Chinese AI applications, so moves here read as a positioning signal for the whole sector. Whether the weakness stays confined to these application names or spreads to the wider tech complex is the open question worth watching.