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[$$] ZTE suspends trading in HK and Shenzhen after US ban

Louise Lucas in Hong Kong

ZTE was forced to suspend shares in Hong Kong and Shenzhen on Tuesday as analysts warned over the “substantially damaging” hit from the US move to ban American companies from doing business with the Chinese telecoms equipment maker. The move would prohibit any US company from doing business with ZTE anywhere in the world. ZTE trades on stock exchanges in Shenzhen and Hong Kong but among its largest investors is a holding company backed by Chinese state-owned groups.