Like us on Facebook to see similar stories, Key takeaways from the Derek Chauvin murder trial, Day 11, Biden makes the case for infrastructure in a bipartisan meeting. In the coming days, the New York Stock Exchange will start to delist American depositary receipts in China's three big telecommunications operators. Shares in China's big three state-owned telecom companies slid in Hong Kong Monday during the first day of trading since the New York Stock Exchange announced it was delisting the firms. “The NYSE may send valentines to China” soon, he wrote, just after that romantic holiday. The NYSE said on Jan. 6 that it would delist China Mobile, China Telecom, and China Unicom on Jan. 11, citing an executive order signed by Trump in November. Immediately after the notice was issued, stocks of … Three of China's biggest telecommunications companies are set to be delisted from the New York Stock Exchange (NYSE) as soon as January 7 … ... China Mobile gained 0.3% as of 11:42 a.m. Hong Kong Thursday, while China Telecom fell 2.2%. The New York Stock Exchange says it will proceed with delisting three Chinese telecom companies — a move that was originally prompted by an executive order from President Trump. The NYSE said on Thursday that it will delist China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited. Friday's move by the NYSE seeks to comply with an order by outgoing US President Donald Trump barring investment in firms with ties to the Chinese military. The New York Stock Exchange has reversed its decision to scrap plans to delist three Chinese telecommunications behemoths. The ministry of commerce said in a statement that China will "take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises," according to the state-run Global Times. The New York Stock Exchange reversed its decision to delist China Mobile, China Telecom, and China Unicom before it becomes effective. Chinese telcos spared delisting as NYSE backtracks on decision. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Chinese telecoms firms seek review of US delisting move. China Mobile Ltd. , China Telecom Corp and China Unicom (Hong Kong) had been slated for removal from the Big Board by January 11 following an Executive Order from President Donald Trump in November that banned investments by U.S. citizens into 35 companies with alleged ties to the Chinese military. Trump has pursued an aggressive economic agenda against China that has become even more restrictive since the emergence of Covid-19, which Trump has derogatively labeled the "China virus," in Wuhan. China Telecom Majors Downplay Significance of Wall Street Delisting By He Shujing and Flynn Murphy The New York Stock Exchange announced on Dec. 31 that it would begin to delist the three major Chinese telecom firms, in line with an executive order from the outgoing U.S. president. © 2021 CNBC LLC. Got a confidential news tip? In other words, they are delisting companies after all. BEIJING — For Americans looking to play the China growth story, investing in the country’s U.S.-listed stocks now bears a political risk that could lead to delisting. was sworn in as the 46th president of the United States, China’s three telecommunications companies filed requests with the New York Stock Exchange (NYSE) … According to NYSE, trading in the three companies will be suspended possibly as soon as Jan. 7 or as late as Jan. 11. The New York Stock Exchange has retreated from plans to de-list three China-based telecom companies, sending share surging in early Tuesday trading. Microsoft and partners may be compensated if you purchase something through recommended links in this article. The NYSE said on Thursday that it will delist China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited. News China threatens retaliation for NYSE delisting telecom firms. China Mobile shares were marked 9.1% higher in early trading to change hands at $29.34 each, while China Unicom shares surged 13.9% to $6.27 each. The NYSE said on Thursday it would delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd following the U.S. government’s move in November to block investment in … The exchange considered, and then rejected, the notion of delisting China-based telecom stocks on Jan. 11, following President Donald Trump signing … We want to hear from you. Subscribe to CNBC Pro for the TV livestream, deep insights and analysis on how to invest during the next presidential term. The NYSE announced early this month that it will be delisting China Mobile, China Telecom Corp., and China Unicom Hong Kong Ltd. The exchange said Wednesday it will remove the U.S.-traded shares of China Telecom (NYSE: CHA), China Mobile (NYSE: CHL) and China Unicom (NYSE: CHU). China said Saturday that it would take necessary countermeasures after the New York Stock Exchange (NYSE) began delisting securities of three Chinese telecommunications companies. A Division of NBCUniversal. However, in a brief statement late Monday, the NYSE said that "in light of further consultation with relevant regulatory authorities" the three stocks will remain listed, sending shares sharply higher in Hong Kong, where the bulk of them are traded, as well as in pre-market trading here in the United States. China Telecom shares were marked 9.5% higher at $28.60 each. Biden is not expected to dramatically alter the U.S.-China relationship, and said on Monday that he would "hold China's government accountable for its abuses on trade, technology, human rights, and other fronts.". Get this delivered to your inbox, and more info about our products and services. China Mobile Ltd., China Telecom Corp and China Unicom (Hong Kong) had been slated for removal from the Big Board by January 11 following … Data is a real-time snapshot *Data is delayed at least 15 minutes. China Telecom, China Mobile, and China Unicom Hong Kong will continue to be … Show full articles without "Continue Reading" button for {0} hours. The Biden transition team also did not respond to a request for comment. Don't count on President-elect Biden to undo the order. The NYSE delistings are likely to have a limited impact on China's markets: JPMorgan, barred Americans from investing in companies it alleged were connected to the Chinese military. The commerce ministry said that the U.S. was "abusing national security and using state power to crack down on Chinese enterprises" and said the move was "not in line with market rules and logic, which harms not only the legitimate rights of Chinese enterprises, but also the interests of investors in other countries, including the US. If you believe President-elect Biden will undo … The investment ban will take effect on Jan. 11, just days before President-elect Joe Biden is due to be inaugurated. Trump signed an order in November that barred Americans from investing in companies it alleged were connected to the Chinese military. China vowed on Saturday to respond to the delisting of three telecommunications giants by the New York Stock Exchange under an executive order signed by President Donald Trump in November. It was taken to comply with the executive order signed in November by the … The decision to remove the three incumbent Chinese telecom operators from the stock market was announced after the market was closed on the last trading day of 2020. This week, he wrote in a client note, the three telecom firms—China Mobile, China Telecom, and China Unicom Hong Kong—are eligible to be reviewed for reinstatement. However, with President Elect Joe Biden likely to take a less confrontational approach to trade relations with China, possibly even removing some tariffs on goods that have been in place since 2017, the NYSE's interpretation of Trump's Executive Order could suggest an expected thawing of tensions in the months ahead. Shares in China’s three large telecom carriers were roiled Monday, after the New York Stock Exchange moved to delist the trio to comply with a … China Mobile, China Telecom and China Unicom to be delisted in the US as soon as January 7 One option is for investors to exchange US American … China Unicom slipped 1%. China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. will be suspended from trading between Jan. 7 and Jan. 11, and proceedings to … Jan 4 (Reuters) - The New York Stock Exchange said on Monday it no longer intends to move forward with the delisting of China Mobile Ltd 0941.HK, China Telecom Corp Ltd 0728.HK and China … The New York Stock Exchange said it would begin the process of delisting China Mobile, China Telecom, China Unicom Hong Kong to comply with an … All Rights Reserved. So says Jeffrey Kleintop, chief global investment strategist at Charles Schwab. After a surprising U … Sign up for free newsletters and get more CNBC delivered to your inbox. The NYSE U-turn underscores, to some degree, the regulatory risks imbedded in China-based stocks amid a crackdown on anti-competitive practices in the tech sector -- including Jack Ma's Alibaba -- by authorities in Beijing and the impact of years of trade and security tensions between the Trump administration and the government of President Xi Jinping. China’s big telecom carriers asked the New York Stock Exchange to rethink their planned delisting, the latest twist in a to-and-fro about whether they should be allowed to trade in U.S. markets. The White House did not immediately respond to a request for comment on China's statement on Saturday. ", It added, "We hope that the US and China will work together to create a fair, stable and predictable business environment for enterprises and investors, so as to get bilateral economic and trade relations back on track.". 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