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ZTE stock jumps on hopes for US sanction settlement

Chinese telecom supplier negotiating over penalties for alleged Iran dealings

A ZTE factory

HONG KONG -- Shares in ZTE were up sharply at midday on Tuesday, after the Chinese communications equipment maker said it is negotiating to settle trade restrictions imposed by U.S. authorities. 

At one point, the stock was up 8.21% from the previous day, at 13.18 Hong Kong dollars.

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