NEW YORK/WASHINGTON (Reuters) - The New York Stock Exchange is starting the process of delisting securities of three Chinese telecom companies, after President Donald Trump last month barred U.S. investments in Chinese firms Washington says are owned or controlled by the military. The move https://ir.theice.com/press/news-de...omply-with-Executive-Order-13959/default.aspx by the NYSE, which will limit U.S. investor access, follows global index providers MSCI Inc, S&P Dow Jones Indices and FTSE Russell and Nasdaq deleting various Chinese companies from their indexes. It's "a modest step, but at least an awakening to national security and human rights-related risk”, said Roger Robinson, a former White House official who supports curbing Chinese access to U.S. investors. NYSE said that the issuers, China Telecom Corporation Limited , China Mobile Limited <0941.HK> and China Unicom (Hong Kong) Limited , were no longer suitable for listing as the order prohibits any transactions in securities "designed to provide investment exposure to such securities, of any Communist Chinese military company, by any United States person." Trump's November executive order impacts some of China's biggest companies https://www.defense.gov/Newsroom/Re...mpanies-in-accordance-with-section-1237-of-fy. The order sought to give teeth to a 1999 law that mandated that the Department of Defense compile a list of Chinese military companies. The Pentagon, which only complied with the mandate this year, has so far designated 35 companies, including oil company CNOOC Ltd and China’s top chipmaker, Semiconductor Manufacturing International Corp. China has condemned that ban, and fund managers have said it could benefit non-U.S. investors able to pick up the stocks. NYSE said that it would suspend trading in the stocks on either Jan. 7 or Jan. 11. The issuers have a right to a review of the decision. Each of the telecoms companies named by the NYSE also has a listing in Hong Kong. China Telecom is also under fire from the U.S. Federal Communications Commission (FCC), which said earlier in December that it had begun the process of revoking the company's authorization to operate in the United States. The companies could not be reached for comment on a public holiday in China. Ties between Washington and Beijing have grown increasingly antagonistic over the past year as the world's top two economies sparred over Beijing's handling of the coronavirus outbreak, imposition of a national security law in Hong Kong and rising tensions in the South China Sea. Separately, President Donald Trump signed a law last month that would kick Chinese companies off U.S. stock exchanges unless they adhere to American auditing standards. Market participants said this would intensify a rush by U.S.-listed Chinese firms to seek back up listings in Hong Kong. (Reporting by Megan Davies in New York and Alexandra Alper in Washington; additional reporting by Alun John in Hong Kong and Beijing Newsroom; Editing by Kim Coghill) Source : https://finance.yahoo.com/news/nyse-says-starting-process-delist-030048411.html
A similar article appeared in the Wall Street Journal. Clueless Americans commented, effectively saying, who needs the Chinese. It is a sad commentary since Americans have little understanding of the diminishing role the US has in world affairs.
https://dnyuz.com/2021/01/02/china-threatens-retaliation-for-nyse-delisting-telecom-firms/ Let's see if China takes counter measures or simply lets the NYSE and Nasdaq become less in important over time as trading migrates to the Hong Kong Stock Exchange(HSE).
this is great news! and you should get even more bullish chinese adrs! it is almost like an index shuffle or drop! notice they wont hit alibaba or bidu and all of that index and etf money will flow into those names which are part of the sp500 and nasdaq!! so yeah buy buy chinese adrs because less supply =more demand if you want usa expopsure to china. dont be stupid. be smart and make money! I am long heavy bidu and baba bq
can the USA list a stock on Shanghai Stock exchange ? there is only one way apparently and its thru London-Shanghai Stock Connect. Can a USA company directly float in Shanghai ? Ans: No ..USA just trying to get back on a level playing field IMHO
Thanks for the tip, but, by the time that comes, i much rather fly head down from Empire State Building.
Bidu has an outstanding chart Fcx copper+ bc china copper hungry I've had chinese gfs but too tight lol #astroglide