A little further down we see the photo of the CEO of Xiaomi, Lei Jun, very smiling but maybe in these hours the smile has given way to emotions not really happy. The actions of the Xiaomi group have collapsed due to massive sales of global equities in Asia. In a single day, the value of the Xiaomi titles fell by 9,16% coming to touch the 12,5 dollars (HK) on the Hong Kong Stock Exchange. It must be said that the Chinese company is not the only one involved with this financial drama but also other companies of the caliber of Tencent have reached dizzying drops, which specifically records a devaluation of 7,4%.
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The Chinese economy in general is undergoing a major crisis due to the collapse of the US market yesterday, prompting investors to sell their shares. In the United States, equity markets fell more than 3 / 8% with the Nasdaq dropped below 7,8% while the Dow Jones fell by 3,1% in a single day. Due to the recent leap forward in US interest rates, large sales were unleashed.
The drama of the Hong Kong Stock Exchange is similar in Taiwan, where for example the shares of Foxconn (supplier of some components of the iPhone) have fallen by 6,9%. In Japan, the major technological brands recorded an average loss of 4,6%.
Xiaomi's shares are falling sharply on the Hong Kong Stock Exchange
In reality, the stock market carried out by Xiaomi has not been rosy since the beginning, as I respect one forecast of an action value of 17 dollars (HK equal to about 2,17 US dollars), this has established itself with a list price of 16,6 dollars (HK equal to about 2,12 US dollars). Nothing dramatic but on the big numbers the initial revenue was not decidedly full-bodied as expectations promised.
We hope that Xiaomi will face the month of October in a positive way, considering that the Mi Mix 3 is expected to arrive on the international market. recent records recorded by Mi 8 with 6 million units sold in China and Redmi 5A which registers 10 million in India alone, they can only lift the mood and bring the smile back to CEO Lei Jun.