China Market ends lower as ZTE plunge

The Mainland China equity market closed session down on Wednesday, 13 June 2018, as investors shifted their focus from the recently concluded U.S.-North Korea summit to the conclusion of the Federal Reserve's June meeting on interest rates later in the day. Adding to pressure was slump in shares of ZTE after the Chinese telecom equipment maker agreed to pay a combined US$1.4 billion in fines, as well as make changes in senior leadership and replace its board of directors, as part of a deal to lift US sanctions. The blue-chip CSI300 index fell 0.98 percent to 3,788.34 points, while the Shanghai Composite Index lost 0.97 percent to 3,049.80 points.

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