Citystreets News

Xiaomi's trading debut in Hong Kong disappoints Bhagyashree Mulashiya credit to BBC news 7/9/2018 12:23:22 AM Shares in Chinese smartphone maker Xiaomi fell by 6% at the beginning of its first day of trading on Hong Kong's stock market. The world's fourth-largest smartphone maker raised $4.7bn (£3.5bn) - just over half the target it hoped for last year - valuing the company at $54bn. As the first of many Chinese tech firms to list in Hong Kong in 2018, it marks a disappointing start for the sector. Chinese stocks have fallen recently in the lead up to the US-China trade war.

Xiaomi's trading debut in Hong Kong disappoints

Bhagyashree Mulashiya credit to BBC news 7/9/2018 12:23:22 AM

Shares in Chinese smartphone maker Xiaomi fell by 6% at the beginning of its first day of trading on Hong Kong's stock market. The world's fourth-largest smartphone maker raised $4.7bn (£3.5bn) - just over half the target it hoped for last year - valuing the company at $54bn. As the first of many Chinese tech firms to list in Hong Kong in 2018, it marks a disappointing start for the sector. Chinese stocks have fallen recently in the lead up to the US-China trade war.