NYSE does U-turn on Chinese trio
The New York Stock Exchange (NYSE) has reversed a decision to delist three Chinese telecoms companies, a move prompted by an executive order made by US President Donald Trump late last year.
The executive order prohibits any dealing in publicly traded securities, or any securities that are “derivative of, or are designated to provide investment exposure to, companies identified as a Communist Chinese military company”.
Change comes after consultation
As a result, the exchange said on 1 January it would suspend trading in shares of China Mobile, China Telecom and China Unicom from 11 January.
In a statement early this morning (5 January), however, the NYSE said it no longer intended to take action against the Chinese companies, after “further consultation” with the relevant regulatory authorities.