BEIJING | ZTE stock falls after US penalties over Iran, North Korea

13Jun - by Editor - 0 - In STL.News



BEIJING — Shares in ZTE Corp. fell 42 percent Tuesday in Hong Kong on their first trading day after the Chinese telecoms equipment maker agreed to pay a $1 billion penalty to the U.S. government and replace its top managers.

Shares resumed trading following a two-month suspension after Washington accused state-owned ZTE in April of reneging on a settlement of charges it violated export rules by selling U.S. technology to Iran and North Korea.

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