China’s major stock indexes ended little changed on Monday, though tech firms were sold amid ZTE woes.
The blue-chip CSI300 index ended up 0.2 percent at 3,766.33 points, while the Shanghai Composite Index slipped 0.1 percent to 3,068.01 points.
All eyes were on China’s ZTE, which is seeking a resolution to a U.S. ban on selling it parts and software that it has said threatens its survival. The ZTE ban raised worries over escalating China-U.S. trade tensions regarding tech sectors,” Chen Guo, analyst, Essence Securities, said in a note. A dozens of fund managers have already cut the valuations of ZTE shares by more than 20 percent, with some even flagging a 30 percent cut.
Source : Reuters