Shares in China telecoms firms and Huawei suppliers slump after CFO arrest

Yangtze Optical Fibre and Cable Joint Stock Co

06/12/2018 01:49

** Shares in Chinese telecoms firms and Huawei's suppliers
and partners slump as investor fret over the arrest of Huawei's
CFO in Canada  
    ** Canada has arrested Huawei's global chief financial
officer in Vancouver, where she is facing extradition to the
United States, Canada's Department of Justice said on Wednesday
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    ** Hong Kong shares in China's No.2 telecom equipment maker
ZTE Corp ZTE's  0763.HK  dive as much as 6.8 pct, while ZTE's
Shenzhen shares  000063.SZ  fall about 5 pct 
    ** ZTE's Shenzhen shares have tumbled nearly 70 percent at
one point this year before recovering some ground as the U.S.
imposed an export ban that threatened to put it out of business
    ** AAC Technologies Holdings  2018.HK , Yangtze Optical
Fibre and Cable  6869.HK  and BYD Electronic International Co
Ltd  0285.HK  all down 2-5 pct 
    ** On the mainland, Shenzhen Sunway Communication
 300136.SZ , WUS Printed Circuit Kunshan  002463.SZ , Suzhou
Dongshan Precision Manufacturing  002384.SZ , Luxshare Precision
Industry  002475.SZ , S.F. Holding Co Ltd  002352.SZ , Shenzhen
Circuits  002916.SZ  and Hengtong Optic-Electric  600487.SS 
down 2-8 pct 
    ** An index tracking major telecoms firms on the mainland
 .CSI000994  sheds nearly 3 pct 
    ** On Taiwan, shares in Huawei's suppliers including Hon Hai
Precision  2317.TW , MediaTek Inc  2454.TW  and Taiwan
Semiconductor Manufacturing Co Ltd  2330.TW  down 2-3 pct 
    ** The news comes on the same day Britain's BT Group BT.L
said it was removing Huawei's equipment from the core of its
existing 3G and 4G mobile operations and would not use the
Chinese company in central parts of the next network
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 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))