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ZTE rocks in Hong Kong

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Hong_Kong_2 August 7, 2012 (Chinavestor) Chinese stocks were looking for direction in Asia on Tuesday, but ZTE Corp. (HKG:0763). Chinese telecom equipment maker, ZTE Corp. (HKG:0763) surged as much a 8.0% on Tuesday in high volume amid expectations that the company's new Windows 8 smarthpone will put it in track with Samsung's spectacular growth in the business. Shares of ZTE Corp pulled the Hang Seng Index (INDEXHANGSENG:.HSI) higher for the day.

Stocks lacked direction on the mainland where the Shanghai Composite Index (SHA:000001) rose a mere 0.1% on Tuesday. Investors are waiting for corporate news and direction of government action as to how the government can support the slowing economy.

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