Sunday, November 17, 2024
HomeTop NewsThe US began delisting three Chinese telecommunications companies on the exchange

The US began delisting three Chinese telecommunications companies on the exchange

Published on

Stock Index Listing on the New York Stock Exchange, USA on 12/3/2020. Photo: THX / TTXVN

NYSE’s move will limit the access of US investors after the MSCI Inc., S&P Dow Jones indices, FTSE Russell and Nasdaq removed several Chinese firms from their stock indices.

China Telecom Corporation Limited, China Mobile Limited 0941. HK and China Unicom (Hong Kong) Limited will close their trading shares after a week, NYSE said.

In November, President Trump passed an order banning investment in Chinese companies. The order bans American investors from buying and selling shares of Chinese companies identified by Pentagon officials as having links to the Chinese state military. The order is in line with a 1999 law regulating the U.S. Department of Defense to list Chinese military companies. The Pentagon has so far included 35 companies, including oil and gas company CNUC Ltd. and Semiconductor Manufacturing International Corporation, China’s leading chip maker.

China condemned the ban and vowed to retaliate against Washington by preparing a similar list.

Over the past 10 years, many Chinese companies – especially tech companies – have opted to list on NYSE or the Nasdaq, as well as IPOs on home exchanges such as Shenzhen or Shanghai.

See also  High flyers compete in Lake Garda

Latest articles

Ireland: Dáil adopts report in favor of euthanasia

Yesterday, the Dail The "Assisted Dying" report was approved by...

Expert Picks: Best Glue Options for Acrylic Nails

Acrylic nails have become a beauty staple for many, offering a durable and stylish...

One day, one photo… this Halloween (obviously) from Ireland

There are photos that stand out, make you dream or make you ask questions....

After battering Ireland this weekend, Storm Ashley will move over France

AFP Videos - FranceSpain: More than 70 dead, many missing in Dantesque floodsDevastating floods...

More like this

Ireland: Dáil adopts report in favor of euthanasia

Yesterday, the Dail The "Assisted Dying" report was approved by...

Expert Picks: Best Glue Options for Acrylic Nails

Acrylic nails have become a beauty staple for many, offering a durable and stylish...

One day, one photo… this Halloween (obviously) from Ireland

There are photos that stand out, make you dream or make you ask questions....