Xiaomi soars on dual-class shares deal

Mainland, HK bourses' agreement on Stock Connect inclusion lifts sentiment

Mainland stock exchanges and the Hong Kong stock exchange have reached an agreement on adjusting Stock Connect inclusion arrangements for the Hong Kong listed firms with dual-class share structures, sending Xiaomi shares surging.

The Hong Kong stock exchange, together with the Shanghai and Shenzhen stock exchanges, will form a group to work on detailed rules of including the companies with dual-class structures in southbound trading under the Stock Connect, according to a statement from Hong Kong Exchanges and Clearing Ltd.