NY Open: Wall Street's Huawei game
A soft US jobs report only added to markets' unease today, and both forex and equities moving into risk-off territory following the lacklustre print.
Saxo Bank head of equity strategy Peter Garnry takes a closer look at China’s electronic and software giant Xiaomi, known as the ‘Apple of China’, as it gears up for its IPO.
Beijing-based Xiaomi, reportedly the world’s fifth-largest smartphone company, is expected to sell shares in July with its market valuation rumoured to be around $70 to $80 billion.
On May 3, Xiaomi filed to list its shares on the Hong Kong stock exchange.