In flip-flop, NYSE will delist 3 Chinese companies after all




  • In US
  • 2021-01-06 15:25:47Z
  • By Associated Press
FILE - In this Oct.
FILE - In this Oct.  

NEW YORK (AP) - The New York Stock Exchange is going ahead with plans to delist shares of three Chinese state-owned phone carriers under an executive order from President Donald Trump, reversing course just days after saying they wouldn't be delisted.

The exchange said trading in the three companies, China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd., will be suspended on Jan. 11.

The decision marks the latest about-face for the NYSE on whether to delist the companies in accordance with Trump's executive order from November barring Americans from investing in securities issued by companies deemed to be linked to the Chinese military.

The NYSE initially said on Jan. 1 that it would delist the companies, only to withdraw that decision Monday, cited some "ambiguity" about whether the three companies were in fact covered by Trump's order.

The exchange said in a statement Wednesday that it decided to proceed with the delisting "following new specific guidance" from the Treasury Department, which oversees the enforcement of the executive order. The statement also said the companies can appeal the decision.

The Trump administration has imposed export controls and other sanctions on some Chinese companies, visa curbs on members of the ruling Communist Party and other restrictions. The Chinese government has accused Washington of misusing national security as an excuse to hamper competition and has warned that Trump's order would hurt U.S. and other investors worldwide.

COMMENTS

More Related News

Biden takes executive action to expand unemployment, food aid while waiting on stimulus moves
Biden takes executive action to expand unemployment, food aid while waiting on stimulus moves

President Joe Biden took executive action Friday to expand access to unemployment and food aid while Congress begins considering his proposal for a sweeping ...

State Department Resumes Diversity Trainings Suspended Under Trump
State Department Resumes Diversity Trainings Suspended Under Trump

Ned Price - the agency's first openly gay spokesman, who was appointed by President Joe Biden - made the announcement on Friday afternoon.

'I want to feel safe again': Americans lament slow pace of U.S. COVID-19 vaccine rollout
  • US
  • 2021-01-22 22:56:12Z

Jerry Shapiro, a 78-year-old pharmacist from Los Angeles, is at the top of the list of Californians now eligible for the COVID-19 vaccine, but more than a...

More than 150 National Guard in Washington for inauguration test positive for coronavirus
More than 150 National Guard in Washington for inauguration test positive for coronavirus
  • US
  • 2021-01-22 21:47:31Z

Between 150 and 200 National Guard deployed to Washington, D.C., to provide security for President Joe Biden's inauguration have tested positive for the...

Executive Order On Worker Health & Safety Establishes Clear Directive For Development Of Emergency Temporary Standards
Executive Order On Worker Health & Safety Establishes Clear Directive For Development Of Emergency Temporary Standards

Executive Order On Worker Health & Safety Establishes Clear Directive For Development Of Emergency Temporary StandardsPR NewswireWASHINGTON, Jan. 22, 2021...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US