Xiaomi surges 14pc on 2nd day of trading

BEIJING: Xiaomi Corp surged 14 per cent a day after its disappointing debut, as investors began to pile into the world’s third-largest listed smartphone maker. The Chinese company surged to a high of HK$19.14 (RM9.77) in early afternoon trading, well above its HK$17 initial public offering price, with roughly 347 million shares changing hands. While the stock fell 1.2 per cent on debut on Monday, after the close it was announced that it would join the Hang Seng Composite Index on July 23.