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

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

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%.

(Reporting by Andrew Galbraith; Editing by Clarence Fernandez)