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23/09/2026 14:51

Alibaba drops over 4% below HK$110 as AI large model stocks slump collectively

   reported on the 23rd that Alibaba (09988) is currently down 4.4%, trading at HK$109.8, with approximately 66.33 million shares traded, involving a turnover of HK$7.363 billion.

  It was reported that Chinese regulators are investigating certain large AI models over allegations of inputting sensitive user data into overseas large models for processing, causing a broad sell-off among large model-related stocks this morning; Zhipu (02513) dropped 11.5% to HK$656.5; SenseTime (00020) fell 3.6% to HK$1.22; MiniMax (00100) declined 6.4% to HK$268.2; Xiaomi (01810) dropped 3.4% to HK$26.28.

  Anthropic released a 154-page detailed report on September 10, alleging that seven Chinese companies have been massively violating rules by using its Claude system, including DeepSeek, Moonshot, Alibaba, Zhipu (02513), SenseTime, MiniMax, and Xiaomi.

  Currently, the Hang Seng Index stands at 24,821, down 265 points or 1.1%, with main board turnover nearing HK$144 billion. The Hang Seng China Enterprises Index is at 8,275, down 87 points or 1%. The Hang Seng Tech Index is at 4,368, down 69 points or 1.6%.
 
Performance of related or same-sector stocks
Stock (Code)Current Price (HK$)Change (%)
Alibaba (09988)109.80Down 4.36%
Zhipu (02513)656.50Down 11.52%
SenseTime (00020)1.22Down 3.56%
MiniMax (00100)268.20Down 6.35%
Xiaomi (01810)26.28Down 3.38%
Tencent (00700)439.20Down 2.75%
Baidu (09888)88.60Down 1.01%
Kuaishou (01024)30.54Down 2.18%
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