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BUSINESS & TECH

Quick Take: ZTE Stock Stops Falling in Hong Kong

A security guard walks past a building of ZTE Beijing research and development center in Beijing. Photo: VCG
A security guard walks past a building of ZTE Beijing research and development center in Beijing. Photo: VCG

Shares of telecom-equipment maker ZTE Corp. bounced back slightly in Hong Kong on Thursday following a massive sell-off the previous day, as the stock resumed trading after the company settled a dispute with the U.S. that had threatened the company’s existence.

ZTE’s Hong Kong-listed shares were up 1.1% at the midday break, retreating from earlier gains of up to 2.7%. But the company’s Shenzhen-listed shares were down by the 10% daily limit for a second consecutive day, reflecting lingering concerns over the new uncertainties created by ZTE’s crisis.

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