Although its share prices surged by 3.8% on Monday, they are still down by 40% from their April 2018 levels.
On Monday, following the removal of measures from a defense bill by U.S. lawmakers that would have reinstalled sanction on China’s ZTE Corp, shares of the telecommunications equipment maker surged by 3.8% in Hong Kong.
To a large extent, the measure lifts the uncertainty of whether the crippling U.S. supplier ban would be reinstated by the U.S. Commerce Department.
In early trading in Hong Kong, ZTE’s shares climbed to HK$15.20. However, this is still 40% lower than its last trading prices in April 2018, before trading in its shares were suspended for two months.