STOCKS | Xiaomi Rises 2.6% As New Car Series Begins Nationwide Deliveries

Xiaomi shares rose 2.6% to HK$27.04, extending gains for a second straight session and lifting the stock 4.3% over the two days, according to ETNet. The company said its new car series, Pengcheng, began nationwide deliveries on Saturday (the 12th). Founder Lei Jun appeared at the first delivery event in Xuzhou, Jiangsu province, where he opened car doors and handed over keys to new owners, echoing the promotional style used for the first SU7 deliveries two years ago. ETNet reported that the choice of Xuzhou was also seen as deliberate because the city was formerly called Pengcheng, matching the Mandarin pronunciation of the model name. The Hang Seng Index was up 80 points, or 0.3%, at 24,885. The Hang Seng China Enterprises Index rose 30 points, or 0.4%, to 8,276, while the Hang Seng Tech Index fell 2 points, or less than 0.1%, to 4,318.