ZTE's Hong Kong shares rise after clarification of US bill impact
Updated : June 20, 2018 11:21 AM IST
Shares of China's ZTE Corp rose as much as 18 percent in Hong Kong on Wednesday as the impact of a US Senate bill that threatens to restore penalties on the company became clearer.
In clarification announcements during the noon trading break, ZTE said a National Defense Authorization Act (NDAA) passed by the US Senate on Monday would restore penalties on the company.
But the bill would only become law if it could be reconciled with a different version passed by the House of Representatives and signed by US President Trump.