ZTE Falls Most Since 2008 as Net Income May Decline 80%
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ZTE Corp., China’s second-biggest maker of telecommunications equipment, slumped the most in more than three years in Hong Kong trading after the company said first-half profit may have declined as much as 80 percent.
ZTE fell 16 percent to close at HK$10.46, the biggest drop since October 2008. The equipment maker’s Shenzhen-traded shares declined by the daily limit of 10 percent to 11.72 yuan.