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China's ZTE dives 39% at resumption of trading in Hong Kong

2018-06-10T154018Z_1769947340_RC17F94131E0_RTRMADP_3_USA-TRADE-CHINA-ZTE.JPG
Shares in Chinese telecoms equipment maker ZTE collapsed by 39 per cent as trading in the company resumed after it reached a settlement with the United States over its handling of a sanctions violation.

[HONG KONG] Shares in Chinese telecoms equipment maker ZTE collapsed by 39 per cent as trading in the company resumed after it reached a settlement with the United States over its handling of a sanctions violation.

The firm dived 39.22 per cent to HK$15.56 in the first few minutes of trade, having suspended trading in April, when Washington banned US companies from selling goods to it for seven years.

AFP

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