Hong Kong-listed large-model stocks fell on October 15, with Zhipu and MiniMax each dropping more than 10%, according to 36Kr Express. At the close, the Hang Seng Index was down 1.03% and the Hang Seng Tech Index 2.72%, led by semiconductors: Montage Technology fell over 11% and NOVOSENSE over 8%, while hardware names such as YOFC dropped more than 13%. The closing report put Lenovo Group down over 14%, MiniMax over 12% and Zhipu over 10%, while consumer and banking shares gained, with ICBC, China Construction Bank and JD Health up more than 1%, and southbound flows recording net selling of HK$5.08 billion.