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

Hong Kong (AFP) – Shares in Chinese telecoms equipment maker ZTE collapsed by 39 percent 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 percent 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.