The stock of the Chinese corporation Xiaomi have collapsed after the company was blacklisted by the US. This is stated in the data of the Hong Kong Stock Exchange.

Securities of one of the largest smartphone manufacturers fell 11.18 percent during opening of trading. Their cost dropped to HK $29 per unit.

Previously, the Pentagon placed Xiaomi on the blacklist of Chinese firms. Publishing company Reuters says that total of nine Chinese legal entities fell under the new restrictions. According to Washington, they are associated with the PRC military industry. It is noted that these companies will be subject to the decree of US President Trump banning American investments in military-related Chinese firms.