ZTE Posts Biggest Gain Since 2008 on 1 Billion Yuan Buyback Plan
This article is for subscribers only.
ZTE Corp. surged by the most since 2008 in Hong Kong trading after announcing a plan to spend as much as 1 billion yuan ($161 million) buying back shares in China.
ZTE jumped as much as 37 percent to HK$18.60, and traded at HK$19.00 at 9:47 a.m. Tuesday Hong Kong time. The stock rose by the 10 percent limit in Shenzhen to 19.76 yuan.