Xiaomi Sinks With Hong Kong Tech Peers as Buyback and Daiwa Upgrade Fail to Halt Slide
Published on 11/12/2026 at 06:01 | Editorial boerse-global.de
Xiaomi's stock came under pressure for a second straight session as renewed global interest-rate anxiety rippled through Hong Kong's technology sector. The shares fell 3.0% on the day to EUR 3.37, extending a 2.7% decline from the previous session that had already dragged the stock lower alongside Tencent, Alibaba, Meituan and JD.com.
Reuters attributed the broader retreat in the Hang Seng Tech Index to resurgent concerns over global borrowing costs. Stronger-than-expected US inflation data, combined with mounting expectations that the Federal Reserve will raise rates, weighed on Hong Kong-listed technology names, according to the report.
Buyback Program Rolls On
Against that difficult tape, Xiaomi continued to support its own stock. The company repurchased 1.66 million B-shares on the Hong Kong exchange, spending roughly HK$49.9 million, according to a mandatory disclosure. The buyback follows a similar move on Monday, when Xiaomi also acquired its own shares for HK$49.9 million. The repurchased stock is slated for cancellation.
Daiwa Lifts Target, Reiterates Buy
Analysts, for their part, remain constructive. Daiwa raised its price target on Xiaomi to HK$35 from HK$30 on November 3, while reaffirming its buy rating on the shares.
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The company also reported progress on the robotics front that same day. According to Xiaomi, a humanoid robot completed an eight-hour work shift at an automobile plant for the first time. In addition, an embodied foundation model was put through trial operations at a Xiaomi residential complex.
October Deliveries Top 50,000
In the automotive business, the China Passenger Car Association recorded 50,123 vehicle deliveries for October 2026. Xiaomi itself had announced on November 1 that deliveries had exceeded 50,000 units.
Separately, the company is exploring local partnerships in India for the manufacture of home appliances, according to a report in the Economic Times. Those plans remain in an early review phase, the newspaper said, with Xiaomi sounding out potential local partners for production in the country.
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Board to Sign Off on Q3
Investors now turn to the November 24 board meeting, at which directors will review and approve Xiaomi's unaudited consolidated results for the third quarter of 2026. The meeting will also cover the company's results for the nine months ending September 30, 2026.
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