HONG KONG: If the rising tide of investor optimism in China (and tech shares) is supposed to lift all equity boats, then at the moment Xiaomi Corp appears to be adrift.
The smartphone maker’s stock has failed to benefit from the wave of investor cash that’s flooded into Chinese equities this year, retreating more than 6% in the face of double-digit rallies for benchmarks in both Hong Kong and China. To add insult to injury, mainland technology shares have led gains in the CSI 300 Index, with a 47% rally.
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