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ZTE forecasts profit; stock up 20%

Source:Agencies Published: 2013-7-23 23:13:02

Shares of ZTE Corp, China's second-largest telecommunications equipment maker, jumped over 20 percent in late trade on Tuesday after it forecast a first-half profit and announced plans to issue share options to staff.

ZTE's Hong Kong-listed shares rose as much as 20.6 percent to HK$13.96 ($1.80), headed for the strongest gain since October 30, 2008. Trading in the stock was nearly 15 times the average daily volume.

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