Zhongji Innolight fell on its trading debut after Hong Kong’s biggest initial public offering in seven years amid souring appetite worldwide for artificial intelligence (AI) shares. The stock closed down 2 per cent after earlier plunging as much as 10 per cent. Shenzhen-listed shares of Innolight, which supplies AI data-centre operators such as Amazon and Alphabet, tumbled 9.2 per cent, extending declines from a June peak to 38 per cent. Prior to the sell-off, the stock had surged almost 10-fold...