tirsdag 5. januar 2021

NYSE does a U-turn on Chinese telecoms delistings

The New York Stock Exchange (NYSE) has scrapped its decision to delist three Chinese telecoms companies. President Donald Trump signed an executive order in November barring American investments in Chinese firms owned or controlled by the military.

The NYSE announced on 31 December that it would delist China Mobile, China Telecom and China Unicom as a result. Now, it has U-turned its decision based on "further consultation" with regulatory authorities. "I suspect that the NYSE never wanted to delist these stocks in the first place. They acted on guidance regarding the executive order," Jeffrey Halley, a senior market analyst from Oanda told the BBC.