Chinese AI firms have become one of Asia’s most volatile equity segments, with
half of the region’s top 10 most volatile stocks being recent IPOs, driven by
retail trading and AI hype. Moore Threads surged over 700% in five days before
halving, while MiniMax has gained more than 450% since its January debut. Low
institutional ownership—about 9.3% for MiniMax—has amplified sharp intraday
swings versus peers like Alibaba. Analysts including Jasmine Duan at RBC Wealth
Management warn valuations are highly sensitive to sentiment given unproven
business models, while Luo Jing at Value Partners highlighted competition and
infrastructure advantages of incumbents, and Daniel So at Goldhorse said
Uncertainty over profitability will keep volatility elevated.
