STOCKS | Xiaomi Shares Rise 0.7% After Price Increases On Select Phones

Xiaomi shares rose 0.7% to HK$27.8, with turnover of about 46.67 million shares, according to ETNet. The stock hit an intraday high of HK$28.12 and a low of HK$27.36. ETNet reported that Huawei, Xiaomi, Honor and other handset makers adjusted prices for some models today, with increases of more than RMB 200 and as much as RMB 1,000. Xiaomi customer service said the company made appropriate retail price adjustments for related products because procurement costs for core components continued to rise. Xiaomi's Xiaomi 17 series, REDMI K90 series and Turbo 5 Max models were among those raised, with increases ranging from RMB 200 to RMB 500. The starting price of the Xiaomi 17 was lifted from RMB 4,799 to RMB 5,099, while the REDMI K90 Max was raised from RMB 3,499 to RMB 3,899 and the REDMI Turbo 5 Max from RMB 2,799 to RMB 2,999. Separately, Xiaomi Auto said on Weibo that August deliveries remained above 30,000 units and that it is preparing for deliveries of the Xiaomi YU7 after launch. This marked the third straight month that monthly deliveries topped 30,000 units.