AI stock rout fells Innolight after mega Hong Kong IPO

Zhongji Innolight's stock fell on its Hong Kong trading debut, the city's largest IPO in seven years, amid declining global demand for AI shares. The stock closed down 2% after a 10% drop, with Shenzhen-listed shares tumbling 9.2%, extending a 38% decline from a June peak. The company supplies AI data-center operators including Amazon and Alphabet.