(Yicai Global) March 5 -- Shares in Shenzhen-based telecom equipment maker ZTE [SHE:000063] opened nearly 4 percent higher this morning, after UK-based FTSE Russell enrolled the firm in its FTSE China A50 Index yesterday.

Its share price narrowed gains after that, notching up only a further 1 percent to CNY51.87 (USD7.49) by 10.10 a.m.

FTSE Russell, which is a unit of the London Stock Exchange Group, brought another three firms into the index yesterday, including BOE Technology Group, China Securities and Will Semiconductor Shanghai, while spurning China Merchants Shekou Industrial Zone Holdings, New China Life Insurance, Shanghai International Airport and Shanghai International Port Group.

Editor: Ben Armour