Xiaomi shares jump after report on removal from U.S. blacklist

Xiaomi second quarter revenue surges 64% year on year as phone sales rise - Copyright Thomson Reuters 2021

By Reuters

Published on 12/05/2021 - 08:15•Updated 26/04/2024 - 11:07

SHANGHAI (Reuters) - Shares in Xiaomi Corp rose as much as 6.71% 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 4.88%.