At the opening of trading, the company’s securities fell to HK $ 29 per unit.
Shares of one of China’s largest smartphone makers, Xiaomi, fell 11% on Friday after the company was blacklisted in the United States. This is evidenced by data from the Hong Kong Stock Exchange.
At the trading opening, Xiaomi’s securities fell by 11.18% to HK $ 29 per unit.
On Thursday, Reuters reported that the U.S. Defense Department has expanded its list of Chinese companies operating in the United States and associated, according to Washington, with the military industry of China. Nine other legal entities, including Xiaomi, were added to the list.
This corporation was founded in April 2010 and is currently one of the four largest smartphone manufacturers in the world. In 2018, the company held an initial public offering of its shares on the Hong Kong Stock Exchange. Over the past year, their price has increased by 180%. At the end of December last year, Xiaomi’s market capitalization exceeded $100 billion for the first time.