China Tech Giant Xiaomi Dives 11% After Being Blacklisted By USA

Shares in Chinese technology giant Xiaomi collapsed more than 11 per cent in Hong Kong trade on Friday after the US put it on a blacklist, banning Americans from investing in it, as the Trump administration ramps up its battle with Beijing. The company, one of the world's biggest smartphone makers and considered China's answer to Apple, was one of 11 firms targeted by US officials who said they posed a threat to national security.