TechFlow News, February 20: According to Tencent News, Hong Kong’s Hang Seng Index closed down 1.10%, while the Hang Seng Tech Index fell 2.91%. Internet and technology stocks broadly declined, with Baidu dropping over 6% and Alibaba falling nearly 5%. Semiconductor stocks weakened, with Hua Hong Semiconductor down nearly 6% and SMIC down over 3%. Domestically developed AI large-model stocks rose against the broader market trend; Zhipu AI and MiniMax both saw their market capitalizations exceed HK$30 billion.
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