ZTE plummets as US lawmakers attempt to restore ban

Jamie McKane

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ZTE plummets as US lawmakers attempt to restore ban

ZTE Corp. dived 24 percent after American lawmakers green-lit a bill to restore severe penalties on the Chinese telecoms gear-maker, potentially up-ending a deal struck with President Donald Trump to allow it to get back in business.

The company’s Hong Kong shares slid to their lowest since July 2016, while its Shenzhen stock fell its 10-percent daily limit on Tuesday.

[Bloomberg]
 
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