Xiaomi surges 8% on chip news
Shares of Chinese smartphone maker Xiaomi Corp rallied over 8% on Friday after it announced it has developed its own computer chip.
The technology company said on its Weibo social media account that it will unveil the chip on March 29. Meanwhile, media reports that Xiaomi is planning to make electric vehicles using Great Wall Motor Co Ltd’s factory further sent shares soaring.
Xiaomi shares listed in Hong Kong surged 8.37% at 7:29 am CET.
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