Huawei shares surge on trade progress

Huawei shares firm on China and US trade deal progress

Shares in Huawei suppliers and Chinese telecommunication companies surge, after Trump said he might include Huawei and ZTE in trade deal.

Trump said on Friday he may include Huawei and ZTE Corp in the trade deal being negotiated between the US and China.

It comes after Trump said on Sunday that he would delay an increase in US tariffs on Chinese goods scheduled for later this week and said if progress continued he and Chinese president Xi Jinping would finalise a deal.

Chinese shares surge

The Chinese telecoms index jumped as much as 4.9% on Monday, rising to nine-month highs, after US president Donald Trump said he might include Huawei and ZTE in his Trade Deal on Friday.

Shenzhen shares of China's equipment maker ZTE Corp leaped as much as 10 %, while ZTE's Hong Kong shares spiked up to 13.9 %.

AAC Technologies Holdings, BYD Electronic International Co Ltd Yangtze Optical Fibreand gain in the range of 1.9-3.5%.

In Taiwan, MediaTek rises as much as 6.8%, while Taiwan Semiconductor Manufacturing Co Ltd and Hon Hai Precision were little changed

Huawei unveils 5G phone

On Sunday Huawei Technologies unveiled a $2,600 folding smartphone which is primed for next generation 5G mobile connections.

The unveiling of the new phone comes despite the US vowing to ban Huawei from such networks over security concerns.

Huawei launched the Huawei MateBook X Pro; Huawei MateBook 13; Huawei MateBook 14; the 5G foldable smartphone, Huawei Mate X; and the Huawei 5G CPE Pro.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.