NYSE yet again reverses course to delist Chinese operators

NYSE yet again reverses course to delist Chinese operators

The New York Stock Exchange (NYSE) again changed course, now deciding to push on with original plans to delist China Mobile, China Telecom and China Unicom, despite stating two days ago it would not go ahead with the plan.

The bourse said it will delist shares in the three operators on January 11, stating its latest decision comes from “new specific guidance” from the US Treasury Department Office of Foreign Assets Control.

The stock exchange first announced plans to delist the companies on December 31, with the Chinese government pledging retaliation in response.

Then on January 4, the NYSE changed its decision to delist the three operators after regulatory advice.

The original action was in adherence to an executive order from President Donald Trump to stop US investment into companies deemed to be in collusion with the Chinese military, claiming this would bring a threat to national security.

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