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SenseTime's post-IPO rally surprises market

Shares of sanctioned Chinese AI company up 113% since Dec. 30 debut

SenseTime's stock price moves have been out of sync with the wider market for Hong Kong shares, puzzling observers.   © Reuters

HONG KONG -- Shares of Chinese artificial intelligence group SenseTime Group continued to climb on Tuesday, powering ahead with a rally that has seen the stock rise 113% since investors' cool welcome to the company's initial public offering.

SenseTime's strong gains, out of sync this week with the wider market for Chinese tech stocks or Hong Kong shares, have puzzled observers. A trader at a U.S. investment bank in Hong Kong said she had "no idea" why SenseTime has kept rising.

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