ZTE shares plunge 17% after US Senate votes to reimpose ban

Hong Kong (AFP) – Shares in Chinese telecoms equipment maker ZTE plunged almost 17 percent in the first few minutes of trade Tuesday after US senators voted to reimpose a ban on high-tech chip sales to the company.

The firm lost 16.79 percent to HK$10.90 soon after the open. The company has fallen about 60 percent since trading in it resumed last week after a two-month suspension.