ZTE shares rise nearly 4 percent after US politicians opt against sanctions

CNET | 7/23/2018 | Sean Keane
jacensolo775 (Posted by) Level 3
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ZTE's stock rose Monday after the company came out of US political wrangling unscathed.

ZTE shares jumped by up to 3.8 percent in Hong Kong trading early Monday after US lawmakers removed penalties against the telecom from a defense bill.

Company - Shares - HK - Dollars - Reuters

The Chinese company's shares climbed to 15.20 HK dollars ($1.94), according to Reuters, compared to to 16.12 HK dollars ($2.05) at this point last week.

The stock was still 40 percent lower than it was in April, the news gathering service noted, when trading was suspended for two months after the ban.

US - Senate - Amendment - National - Defense

A US Senate amendment to the National Defense Authorization Act would've reinstated sanctions against ZTE, which was banned by the Commerce Department in May after the government determined that the company violated terms...
(Excerpt) Read more at: CNET
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