techkenyot.com
techkenyot.com December 14, 2018


Xiaomi's shares open 2.9% down on debut in Hong Kong

09 July 2018, 07:38 | Casey Mitchell

Xiaomi's shares open 2.9% down on debut in Hong Kong

Xiaomi's shares open 2.9% down on debut in Hong Kong

A new wave of Chinese tech companies are planning forays into public markets to raise billions of dollars through initial public offerings. Before Monday, Hong Kong's benchmark index had fallen more than 10% from early June.

Despite Xiaomi's challenging debut, Reuters notes that Hang Seng - the Hong Kong stock market index - was 1.7 percent higher.

Speaking at the ceremonial opening of trading, Xiaomi's chairman Jun Lei acknowledged that the timing of the IPO might not be optimal given the state of trade friction between the USA and China.

"Investors are skeptical about Xiaomi's growth momentum as the global smartphone market seems to be on a downward slope", said Jacky Zhang, an analyst at BOC International in Shanghai.

Unhappy Hamilton points finger at Ferrari's 'interesting tactics'
It was not the start celebrities like Sir Kenny Dalglish, boxer Nicola Adams and golfer Ian Poulter were expecting. Vettel is now eight points clear of the Mercedes driver. "I sweated my a*** off in that race.

"The tit-for-tat going on in the political front between the Unites States and China is spilling over, especially in the tech space,"said Jake Saunders, an analyst at ABI Research".

At Monday's closing price the company had a market value of $53.3 billion.

Chinese smartphone maker Xiaomi Corp's shares fell as much as 6 percent on debut in Hong Kong due to valuation concerns, delivering a blow to investor sentiment in the tech sector where peers have lined up listings in the city.

Xiaomi argued that it should receive a higher valuation than other hardware makers because of the internet services - such as music and video streaming apps - it offers with its devices.

England fans storm Ikea Stratford branch after quarter-final win against Sweden
If England versus Croatia goes to a penalty shootout, the Three Lions will certainly be in safe hands with Everton's Jordan Pickford between the sticks.

The Xiaomi float adds to Hong Kong's $7 billion worth of new listings so far this year. Meanwhile, ride-hailing company Didi Chuxing and Alibaba-affiliated digital payments firm Ant Financial are also reportedly considering IPOs.

"We are an internet firm", Xiaomi's founder and chief executive Lei Jun told the listing ceremony at the Hong Kong stock exchange.

Xiaomi, which helped to pioneer the trend for ultra-low-priced smartphones, says it plans to become an equipment-and-hardware brand alongside Apple Inc.

It is now the biggest smartphone vendor in India and is pushing into European markets including Spain and Russian Federation, though it has lost share in China recently to lower-cost rivals.

Hazard grew up supporting France
Mina, who scored three goals for Colombia at the World Cup , has been linked with Merseyside rivals Liverpool and Everton. The Red Devils have also shown that, unlike their last two major worldwide tournaments, the big matches do not faze them.



Other News

Trending Now

Jack Wilshere Makes Statement Which Will Hurt Arsenal Fans
Manuel Pellegrini is understood to have signed off on the move for the 26-year-old, who has signed a three-year deal at the club. In an interview, Wilshere claims his entire family were Hammers' fans and he had one specific player on the back of his shirt.

Ten killed, dozens injured in Turkey train derailment
In January 2008, nine people were killed when a train derailed in the Kutahya region south of Istanbul due to faulty rails. Television footage shows rescuers heading to the crash site, and victims pulled from the carriages.

Daredevil Tony Pastrana replicates Evel Knievel's jumps
Travis Pastrana jumps the fountain at Caesars Palace on a motorcycle Sunday, July 8, 2018, in Las Vegas . He died in 2007 at the age of 69.

England's Gareth Southgate: Young squad 'not the finished article' yet
We wanted to play good football, work hard, play with passion and I feel like we have done that so we are enjoying it. So we had a little chat after my debut and obviously you feel the pressure, you feel the nerves.

Hierro cuts ties with Spanish federation after World Cup exit
Lopetegui was sacked two days before their opening World Cup match with Portugal after he was named Real Madrid boss. Fernando Hierro with Andres Iniesta after the last 16 rounds defeat by Russian Federation at the ongoing World Cup.

Jean-Michel Aulas expects Nabil Fekir to stay at Lyon
Liverpool have already added to their midfield arsenal with the additions of Naby Keita and Fabinho, and Fekir could be next. I basically have a father-son relationship with my players.

Kylie Jenner reveals she Got Rid of all her Lip Fillers
Fans of the 20-year-old cosmetics queen quickly noticed a big difference in her face in her recent Instagram photos . Kylie Jenner is known for her iconic pout and has been getting lip fillers since the age of 16.

Samsung to open world’s biggest mobile phone factory
The plant spans 35 acres (141 thousand sq.m.) and aims to increase overall production of devices in India by 50%. Numerous software products designed for Samsung's smartphones in India are developed by these R&D teams.

Antonio Conte returns for Chelsea training amid job uncertainty
Chelsea's first pre-season game is in Australia, against Perth Glory on 23 July. Chelsea stars such as Cesc Fabregas returned to pre-season training today.

British PM appoints Dominic Raab new Brexit minister
When the Conservatives returned to power in 2010, he spent his time on the backbenches campaigning on civil liberties issues. Labour Party chairman Ian Lavery said: "This is absolute chaos and Theresa May has no authority left".