U.S. Push on Huawei Ripples Through Markets
Washington has asked foreign allies to avoid telecommunications equipment from China’s Huawei
ZTE Corp. shares fell sharply Friday and Chinese stocks retreated more broadly as news that the U.S. was discouraging sales of Chinese telecoms gear abroad exacerbated trade concerns.
Meanwhile, shares in Ericsson AB of Sweden and Finland’s Nokia Corp., two big competitors of Huawei Technologies Co. and ZTE, rose in European trading, getting a lift from the report.
...