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Xiaomi Grapples With Geopolitics And Doubt on Hong Kong Debut

Jul.08 -- Xiaomi Corp. begins life as a public company on the defensive as it begins trading in Hong Kong on Monday, struggling to justify a lofty valuation while buffeted by a geopolitical storm beyond its control. Separately, Tencent Holdings plans to spin off its online-music business and list shares in the U.S.. Bloomberg's Stephen Engle reports on "Bloomberg Daybreak: Australia."