The New York Stock Exchange (NYSE) is not going to end the listing of three Chinese state telecom companies in the United States.
This means that the American stock market operator is returning to an earlier plan that further sharpened relations between the major powers China and the US.
Earlier, NYSE announced that it wanted to end the companies’ listing by order of the Trump administration. Last month, it banned American investments in Chinese companies that, according to Washington, are controlled or owned by the military in China.
It was reported that trading in China Mobile, China Telecom and China Unicom Hong Kong would be suspended between 7 and 11 January, and the process had begun to delist the companies.
In a brief statement, NYSE now reports that it has been decided otherwise after consulting with regulatory authorities. Market experts are guessing as to the reason for NYSE’s turn.
The stock market operator may have misinterpreted the rules or that geopolitical issues may have played a role in the decision. Beijing had previously announced that it would propose countermeasures because of the decision.