China's Xiaomi rises after official launch of new flagship smartphones

** Shares of Xiaomi Corp 1810.HK climb 1.1% to HK$26.46 after falling for two sessions

** Stock is the eighth biggest pct gainer in Hang Seng TECH Index .HSTECH, which is down 1%

** Chinese smartphones-to-consumer electronics maker says it officially launches its new flagship smartphones, the Xiaomi 18 Pro and Xiaomi 18 Pro Max; introduces smart home appliances and wearable devices incorporating AI technology in its product launch on Wednesday

** Lu Weibing, Partner and President of Xiaomi, said in a statement that from system software and hardware chips to imaging and large-model applications, the Xiaomi 18 Pro series marks a comprehensive transformation of smartphones through AI

** YTD, stock down 33.3%, benchmark Hang Seng Index .HSI down 3.6%