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New York Stock Exchange halts plan to follow Trump's order, delist three China telecom stocks

The NYSE said only that decision was made after "further consultation" with federal regulators.

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Wall Street sign
Wall Street sign
Alexi Rosenfeld / Contributor
Updated: January 5, 2021 - 12:33pm

The New York Stock Exchange has halted plans to follow President Trump's order to remove shares of three Chinese state-owned phone carriers.

The exchange made the announcement late Monday, citing "further consultation" with federal regulators but providing no other specific details.

In November, the president barred Americans from investing in securities issued by companies deemed to be linked to the Chinese military, which resulted in the NYSE announcing plans to "delist" China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd., according to the Associated Press.

U.S. officials have complained that China's ruling Communist Party takes advantage of access to American technology and investment to expand its military, already one of the world's biggest and most heavily armed, the wire service also reports. 

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