Shares in Chinese technology company ZTE plunged 10% in Hong Kong as the company resumed trading following the end of a two-month suspension after America banned it from buying crucial US parts. On 7 June the US finally reached a deal with the company that removed the ban in return for a $1bn fine, the removal of its management board and the enlisting of a US-approved compliance team. Shenzhen-based ZTE is one of China's biggest mobile handset makers and relies on US components for its phones.
Shares in Chinese technology company ZTE plunged 39% in Hong Kong as the company resumed trading following the end of a two-month suspension after America banned it from buying crucial US parts. On 7 June the US finally reached a deal with the company that removed the ban in return for a $1bn fine, the removal of its management board and the enlisting of a US-approved compliance team. Shenzhen-based ZTE is one of China's biggest mobile handset makers and relies on US components for its phones.