U.S. pressure on Chinese telecom equipment giants Huawei and ZTE is causing immediate challenges for the companies in financial markets.
This week, Huawei abruptly called off a planned sale of 500 million euros ($606 million) in five-year debt despite high demand, The Wall Street Journal reported Thursday, citing market participants. The news came a day after the Journal, citing sources, reported the U.S. Justice Department is investigating whether Huawei violated U.S. sanctions on Iran.
The DOJ declined to comment. Huawei did not immediately respond to CNBC requests for comment. The Chinese company, which has raised security concerns in Washington for years, reported a 28.1 percent increase in net profit last year to 47.455 billion yuan ($7.5 billion).
Separately, ZTE shares in Hong Kong and Shenzhen, China, remain suspended more than a week after the initial halt.