The brokerage firm has made inquiries with the regulator. Based on this conversation, NYSE decides to reverse its previous decision. The three telecommunications companies will therefore remain just listed for the moment at the NYSE.
This flies in the face of the Dec. 31 decision to end the companies’ listing, which would no longer allow the shares of all three companies to be traded on the NYSE. It is not known why the NYSE maintains the quotes. The brokerage firm provides no further explanation.
Links with the Chinese army
The New York Stock Exchange announced it after US President Donald Trump signed an executive order a month earlier. This decree prohibits US investors from putting money into Chinese companies that the US government says have ties to the Chinese military.
Index managers such as MSCI and S&P Dow Jones Indices have also announced that they will remove Chinese companies from their index. It is not known whether they will also overturn their decision.
More up-to-date relationship
China’s Economics Ministry has warned that Trump’s executive order is an abuse of power aimed at harming Chinese businesses. Moreover, according to the ministry, this is not only detrimental to Chinese companies, but also to investors from other countries.
In China, the decree is seen as politically motivated and countermeasures have been announced.
This will further strengthen the relationship between the United States and China. Trump has long taken a hard line on China. For example, US companies are not allowed to sell technology to companies on a so-called blacklist. In recent years, countries have bombarded themselves with import tariffs.
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