You are here: Home » International » News » Markets
Business Standard

ZTE's fate uncertain after US Senate vote; shares, US suppliers slide

ZTE's Hong Kong-listed shares tumbled as much as 27 per cent to HK$9.56, their lowest level in nearly two years, before ending the day down 25 per cent

Reuters  |  Hong Kong 

Shares of ZTE Corp and its American business partners took a hit on Tuesday after the US Senate’s passage of a defence bill set up a potential battle with the White House over whether the Chinese telecoms firm can resume business with US suppliers. The 85-10 bipartisan vote marked one of the few times the Republican-led Senate has veered from White House policy and came on the same day that US President Donald Trump threatened to impose a 10 per cent tariff on $200 billion of Chinese goods, escalating tensions between the world's two biggest economies. Trump is ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, June 20 2018. 02:31 IST