The New York Stock Exchange will delist three Chinese state-owned telecom companies in which investing by Americans has been barred by an executive order issued by President Donald Trump, the exchange’s second flip-flop on the issue in the past few days after it first announced the delisting last week and then withdrew plans to do so on Monday night, leading to pushback from the Treasury Department.© 2021 Bloomberg Finance LPThe stock exchange will remove U.S.
According to CNBC, NYSE said the second reversal was due to fresh guidance from the Treasury Department’s Office of Foreign Assets Control that Americans could not engage in certain transactions with the three companies after January 11. China Mobile’s NYSE-listed shares were down 1.8% at 10:30 a.m. on Wednesday while China Telecom and China Unicom shares slumped 2% and 0.8%, respectively.Last week, the NYSE announced plans to delist the three telcos to comply with a November order signed by President Donald Trump that prohibited Americans from investing in companies that the U.S. government deemed supporters of China’s military, intelligence and security services.
Delist them all until they can show their financials like US Companies
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