Bain Capital Exits Kioxia After AI-Fueled Valuation Surge 
EU to Propose New Rules Limiting Children's Access to Social Media 
SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
SpaceX Stock Draws Bullish Wall Street Coverage Ahead of Nasdaq-100 Inclusion 
DeepSeek Eyes China IPO as AI Startup Seeks $71 Billion Valuation in New Funding Round 
DBS Targets S$1 Trillion Wealth AUM by 2030 Amid Asia Wealth Boom 
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business 
OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
SK Hynix Stock Soars as AI Memory Demand Outlook Fuels Chip Rally 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
Zhipu AI Stock Jumps on Report of Custom AI Chip Development Plans 
Taiwan Mangoes Head to Europe as Premium Fruit Exports Expand 
Apple Tests China's CXMT Memory Chips as DRAM Maker Gains Global Market Share 
Xiaomi Corp (HK:1810) briefly soared to an all-time high of HK$58.70 in Hong Kong trading on Thursday before reversing sharply, dropping 8.4% to HK$51.60. The decline came amid heavy profit-taking and a broader market pullback, with the Hang Seng index slipping 0.8% from a three-year high.
The stock's surge was fueled by excitement over Xiaomi's expansion in the electric vehicle market and its upcoming product launches. Later in the day, the company will unveil the SU7 Ultra, a luxury performance version of its SU7 EV. CEO Lei Jun expressed confidence in meeting Xiaomi’s 2025 target of 10,000 units.
Additionally, Xiaomi is set to release its latest flagship smartphone, the Xiaomi 15 Ultra, which is expected to drive a fresh wave of sales. The brand has been gaining ground against Apple (NASDAQ:AAPL) in China, as it leads in AI-powered smartphone innovation.
Xiaomi’s stock has enjoyed a stellar rally over the past month, boosted by growing optimism over Chinese tech stocks and the country’s AI boom. The company’s foray into the competitive EV market has also generated significant investor interest, with strong early sales for the SU7.
Despite today’s dip, Xiaomi’s expansion into EVs and AI-driven smartphones continues to strengthen its market position. Investors remain bullish on the company’s long-term growth potential as it challenges rivals in both the smartphone and EV sectors.
