ANKARA
Chinese electronics firm Xiaomi saw its shares soar on Monday after a US court blocked previous restrictions on the company.
The stock price of Xiaomi climbed to as high as $26.15 per share on the Hong Kong stock exchange, gaining almost 15% after closing Friday at $22.75. Shares were around $24.35 as of 0915 GMT.
US District Judge Rudolph Contreras on Friday put a temporary halt to the restrictions, saying the US move was "arbitrary and capricious" and did not allow the firm its due process rights.
During former President Donald Trump's tenure, the Defense Department put Xiaomi on a list of companies with alleged links to the Chinese military, and imposed financial restrictions on the firm that were set to take effect next week.
Xiaomi also faced the risk of being removed from US exchanges.