[TechWeb Report] On June 20, according to foreign media reports, ZTE’s share price in Hong Kong rose by 18% on Wednesday, citing a bill passed by the US Senate that may lead to the resumption of the ZTE punishment.
The clarification announcement was issued during the midday trading. ZTE said that a National Defense Authorization Act (NDAA) passed by the US Senate on Monday will resume the punishment of the company, but the bill needs to be coordinated with another version passed by the House of Representatives, and the president’s special Lump’s signature can become law.
On Wednesday, ZTE’s Hong Kong-listed share price rose to a high of 11.62 Hong Kong dollars (US$1.48), which had fallen by 25% on the previous trading day.
ZTE, which is listed on the Shenzhen Stock Exchange, dropped its stock price by 10% for five consecutive days. (Compiling/Open Air)