Delisted from NYSE, China Telecom jumps 34% in Shanghai debut

Delisted from NYSE, China Telecom jumps 34% in Shanghai debut

FILE PHOTO: A woman wearing a face mask walks on a pedestrian overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, China, March 13, 2020. REUTERS/Aly Song

China Telecom Corp surged 34% on its Shanghai debut on Friday, defying a bearish market after raising $7.3 billion in the world’s biggest stock listing so far this year.

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