Back in January we wrote about, the then Trump-led US government added nine more Chinese companies to its blacklist, including Xiaomi.
Since then, there have been 2 important events, one is that (thank goodness) Biden, not Trump, became the next President of the US, and the other is that Xiaomi has filed a lawsuit against the decision in the US court. According to Bloomberg, the parties have reached an agreement and will settle the matter "out of court", and with it the US Department of Defense has backed down from its decision that Xiaomi can no longer trade on the US stock exchange, US companies cannot invest in the company and would have to sell all their shares by 11 November 2021. Before 20 May, the two sides will submit a joint proposal to settle the "disagreement".
This is very good news for Xiaomi, and although it was not yet the list that Huawei was on, Xiaomi has rebounded and this has been reflected in its shares.
On the morning of the 11th, a share was worth HKD 22.45, or 852.5 cents, and on the afternoon of the 12th, it was worth HKD 26.15, or 993.4 cents, an increase of 16.4% in just 29 hours.
