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.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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