Pony AI, WeRide Fall in HK After Dueling Robotaxi Listings (2)

Pony AI Inc. and WeRide Inc. tumbled on their trading debuts in Hong Kong after the pair of Chinese robotaxi firms battled for investors during their public offerings, which raised more than $1.1 billion.

Pony AI declined 9.3% to HK$126.10, while WeRide dropped 10% to HK$24.40 on Thursday. They had two of Hong Kong’s worst opening days for major listings this year, according to data compiled by Bloomberg.

After rallying more than most other major stock indexes this year, concerns about lofty valuations have soured the mood in Hong Kong in recent weeks, with the ...