Movement Alert｜ZTE Corporation Rises 3.07% in Regular Trading, Communications Equipment Sector Strong Rebound Drives Recovery

Market Focus06-22

On June 22, ZTE Corporation rose 3.07% in regular trading, trading at HKD 25.52/share, with turnover of HKD 242 million. The stock had been under pressure from consecutive pullbacks amid sector weakness and JPMorgan's continuous reduction in holdings.

The rebound was primarily driven by a strong recovery across the communications equipment sector. Among peers, YOFC surged 26.63%, Trigiant gained 11.46%, Nanfang Communication rose 10.29%, and CIG added 5.98%, creating broad sector momentum that lifted ZTE from recent lows near HKD 25. JPMorgan had previously reduced its stake from 7.65% to 6.14%, while the company's Q1 net profit declined 46.58% year-over-year, both weighing on sentiment in prior sessions.

On the supportive side, Morgan Stanley previously upgraded ZTE H-shares to Overweight with a target price of HKD 39, citing a second-half earnings inflection point and AI catalysts as key drivers for medium-term upside.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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