Huawei suppliers, Chinese telecoms firms drop as White House mulls bar on purchases

Yangtze Optical Fibre and Cable Joint Stock Co

28/12/2018 02:19

** Shares in Huawei suppliers and Chinese telecoms firms
drop, after a Reuters report that the White House is mulling a
new year executive order to bar Huawei and ZTE purchases
    ** An index tracking major Chinese telecoms firms
 .CSI000994  falls as much as 1.3 pct 
    ** Shenzhen shares of China's No.2 telecom equipment maker
ZTE Corp  000063.SZ  slump as much as 4.5 pct, while ZTE's Hong
Kong shares  0763.HK  edge up ~0.9
    ** U.S. President Donald Trump is considering an executive
order in the new year to declare a national emergency that would
bar U.S. companies from using telecommunications equipment made
by China's Huawei and ZTE, three sources familiar with the
situation told Reuters  urn:newsml:reuters.com:*:nL1N1YW0J8 
    ** It would be the latest step by the Trump administration
to cut Huawei Technologies and ZTE Corp, two of China's biggest
network equipment companies, out of the U.S. market
    ** On the mainland, Shenzhen Goodix Technology  603160.SS 
leads the decline, falling 6.9 pct, while Yangtze Optical Fibre
and Cable  601869.SS , Hengtong Optic-Electric  600487.SS ,
Shenzhen Sunway Communication  300136.SZ  and Lens Technology
 300433.SZ  down in the range of 1-2.6 pct 
    ** AAC Technologies Holdings  2018.HK , BYD Electronic
International Co Ltd  0285.HK  and Yangtze Optical Fibre and
Cable  6869.HK  post modest losses

 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))