Under the agreement with US authorities, ZTE will place US$400 million in an escrow account. Photo: Bloomberg

Telecoms stoke rally in Hong Kong and China fuelled by optimism ZTE has reached deal with the US government

ZTE shares rocket 25pc in Hong Kong and were limit-up 10pc in Shenzhen after the US Commerce Department said it had signed an escrow agreement that will allow the company to resume business with American component suppliers once a US$400 million fine is settled; China Mobile shares sink 1.1pc

Topic |   Hong Kong Stock Exchange

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Under the agreement with US authorities, ZTE will place US$400 million in an escrow account. Photo: Bloomberg
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