NYSE Begins Strategy of Delisting Three Chinese language Telecom Corporations

World News - Today

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NEW YORK/WASHINGTON—The New York Stock Change has began the process of delisting securities of three Chinese telecom corporations, after President Donald Trump last yr barred U.S. investments in Chinese language companies that Washington says are owned or controlled by the army. The transfer by the NYSE, which can limit U.S. investor access, follows international index providers MSCI Inc., S&P Dow Jones Indices, and FTSE Russell and Nasdaq deleting numerous Chinese language corporations from their indexes. It’s “a modest step, but at the very least an awakening to nationwide security and human rights-related danger,” stated Roger Robinson, a former White House official who helps curbing Chinese language entry to U.S. buyers. NYSE stated that the issuers, China Telecom Corporation Ltd., China Cellular Ltd., and China Unicom (Hong Kong) Ltd., have been not appropriate for listing as the order prohibits any transactions in securities “designed to offer funding publicity to such securities, of any Communist Chinese language army ...