Shares of China's ZTE set to rise over 30 percent in resumed trade

Reuters

HONG KONG (Reuters) - Shares of Chinese telecommunications equipment maker ZTE Corp were set to surge more than 30 percent in early Tuesday trade after the board approved an A-share buyback plan estimated at no more than 1 billion yuan ($161 million). Shenzhen-based ZTE posted a 42 percent rise in quarterly net profit in April as strong global demand for 4G infrastructure boosted sales. (Reporting By Yimou Lee; Editing by Anne Marie Roantree)