ZTE share price rises by 14 percent
March 28, 2019 | Investopaper
Chinese telecommunication giant ZTE shares rose by around 14 percent this Thursday after the company made a forecast of $178.18 million profit for the first quarter of 2019.
ZTE has recovered from the US sanctions that led the company to the huge loss in 2018 where the company reported the worst half-year loss of 7.8 billion yuan in August.
US sanctions were lifted after the company paid $1.4 billion as a penalty.
Hong-Kong listed shares of ZTE soared to HK$25, a 14 percent rise from its previous price while the Shenzhen listed shares also increased by the maximum limit of 10 percent.
