NYSE flips again over delisting Chinese telecom companies
The New York Stock Exchange is now proceeding with a plan to delist three firms after receiving ‘specific guidance’ from the US treasury
New York — The New York Stock Exchange (NYSE) is proceeding with a plan to delist three major Chinese telecom firms, its second about-face this week, after US treasury secretary Steven Mnuchin criticised its shock decision to give the companies a reprieve.
The pivot comes after the NYSE’s earlier move caught US officials off guard. The exasperation reached the highest levels of the administration of President Donald Trump, who signed an executive order in November requiring investors to pull out of Chinese businesses deemed a threat to US national security. The NYSE’s back-and-forth moves have also sowed deep confusion in global financial markets...
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