Mainland China and Hong Kong stocks ended a choppy week lower after a strong performance run since the start of the year.

Xiaomi looks to “redefine premium cars for this generation” with a combination of performance features that compete with Porsche, technological functions similar to Tesla, and luxury comparable to German carmakers.

The company’s new flagship just launched in China with a 200-megapixel periscope camera.

China's new regulations for autonomous driving software require regulatory approval for over-the-air upgrades. Automakers like Tesla and Xiaomi are affected, as such upgrades are considered product recalls.

Electric vehicle makers including Tesla and Xiaomi have used OTA upgrades to fix software bugs. Such upgrades are called product recalls under China's regulation, but it's often unclear if drivers might need, or would be eligible, to return vehicles to the automakers for refunds.

Xiaomi has launched the Buds 5 Pro in China alongside the Xiaomi 15 Ultra. The true wireless stereo (TWS) earphones come in Bluetooth and Wi-Fi variants, with features such as active noise cancellation (ANC) up to 55dB, call noise reduction, and spatial audio with dynamic head tracking.