Shares of Chinese tech company Xiaomi rose about 6.5% in Hong Kong on news U.S will not put it on a list of blacklisted entities, according to Seeking Alpha. Washington’s move reverses actions taken by the Trump administration to block investment in Chinese companies seen to have ties with the military.
In March, U.S District Judge Rudolph Contreras temporarily stopped the defense department from blocking investments into Xiaomi on suspected ties with the Chinese military.
U.S move marks a rare victory for China’s tech giants who have been under pressure with Washington over issues relating to Hong Kong’s rule, trade, and human rights.
Xiaomi stock is currently gaining. 1810: HKG is up 6.10%
