$XIAOMI-W (01810.HK)$ Morgan Stanley reported that it expect...

Morgan Stanley reported that it expects Smartphone demand in China to recover 4 percent next year, with Xiaomi group the main beneficiary. It believes Xiaomi remains in the best position to recover under a number of risk factors. The company's close cooperation with telecom operators and continued offline expansion will ease investors' concerns over the glory challenge and restore confidence in Xiaomi's growing market share in China. Slightly cut xiaomi's target price by 6% to HK $31.50.