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

* Shares of Xiaomi Corp climb 1.1% to HK$26.46 after falling for two sessions * Stock is the eighth biggest pct gainer in Hang Seng TECH Index, 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 down 3.6% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com)