ZTE shares rise 20 percent, trading 15 times higher than average daily volume

Reuters News
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Posted: Jul 23, 2013 3:39 AM
ZTE shares rise 20 percent, trading 15 times higher than average daily volume

HONG KONG (Reuters) - 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, headed for the strongest gain since October 30, 2008. Trading in the stock was nearly 15 times the average daily volume.

(Reporting By Yimou Lee and Vikram Subhedar; Editing by Jacqueline Wong)