Markets

Asia-pacific stocks mixed: Xiaomi shares in Hong Kong surge about 2%

Shares in Asia-Pacific were mixed today trade as investors reacted to the release of Chinese industrial profits data for April.

Hong Kong’s Hang Seng index dipped 0.3%. Shares of Xiaomi in Hong Kong jumped 1.95% by Thursday afternoon after the Chinese smartphone maker on Wednesday reported a nearly 55% surge in its first quarter revenue as compared with the same period a year earlier.

Mainland Chinese stocks were higher by the afternoon, with the Shanghai composite rising 0.18% while the Shenzhen component gained 0.375%. Industrial profits in China soared 57% year-on-year in April, the National Bureau of Statistics said Thursday.

The Nikkei 225 in Japan slipped 0.45% while the Topix index declined 0.33%. Over in South Korea, the Kospi fell 0.28%. Australia’s S&P/ASX 200 edged 0.26% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.22%.

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