ZTE’s HK shares jump 3.8 percent as U.S. lawmakers cut measure from bill
Shares of China’s ZTE Corp rose as much as 3.8 percent in Hong Kong on Monday after U.S. lawmakers cut measures from a defense bill that would have reinstated sanctions on the telecommunications equipment maker.
The move lifts uncertainty over whether a crippling U.S. supplier ban on ZTE, which was removed by the Commerce Department in mid-July, could be reinstated.
ZTE’s shares climbed to HK$15.20 in early trade. That is still 40 percent lower than its last trading price in April when its shares were suspended for two months.