The New York Stock Exchange has abruptly reversed plans to delist three major Chinese telecommunications companies after consulting regulators about an investment ban ordered by President Donald Trump. From a report: Coming days before the companies were to be delisted — and just over two weeks before Trump is to leave the White House — the U-turn avoids a step that threatened to heighten U.S.-China tensions further. The Big Board gave no reason for its decision in a statement released during Asian hours, saying only that it had consulted “relevant regulatory authorities” about Trump’s executive order, signed in November as part of his administration’s push to check China’s growing economic power. The move came as a surprise and sparked confusion among officials at the U.S. Treasury and State departments, and National Security Council, according to people familiar with the matter, who asked not to be identified because the conversations were confidential. The about-face, described as “bizarre” by a Jefferies Financial Group Inc. analyst, also whipsawed investors who on Monday had sold shares of the Chinese telecom companies and raced to bet on which stocks might be delisted next. China Mobile Ltd., China Telecom and China Unicom Hong Kong all rallied on Tuesday.
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Source:: Slashdot