Xiaomi shares jump after report on removal from US blacklist

Xiaomi shares jump after report on removal from US blacklist

Shares in Xiaomi Corp rose as much as 6.71per cent in Hong Kong afternoon trade on Wednesday, following a report that the telecoms giant would be removed from a U.S. blacklist.

FILE PHOTO: The logo of Xiaomi is seen inside the company's office in Bengaluru
File photo of a Xiaomi logo. (Photo: Reuters/Abhishek N. Chinnappa)

SHANGHAI: Shares in Xiaomi Corp rose as much as 6.71per cent in Hong Kong afternoon trade on Wednesday, following a report that the telecoms giant would be removed from a U.S. blacklist.

On Twitter, a Bloomberg reporter said the removal comes after the company reached a settlement with the U.S. Defense Department. Xiaomi shares were last up 4.88per cent.

(Reporting by Andrew Galbraith; Editing by Clarence Fernandez)

Source: Reuters

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