Shares in Chinese telecoms equipment maker ZTE slumped on Friday afternoon, building on losses earlier in the week when it resumed trading following its agreement with the US to pay a $1bn fine.
Hong Kong-listed ZTE shares fell by as much as 10 per cent. Its Shenzhen-listed shares fell by the 10 per cent daily limit to Rmb22.82 a share.
ZTE shares plunged 41.5 per cent on Wednesday, wiping $3bn off the company’s market value after it resumed trading following a US ban preventing the Shenzhen-based company from buying vital components for failing to honour earlier penalties over sales to Iran.
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