“Cancellation plan after consultation with relevant authorities”
Stock prices of each company surge on the Hong Kong Stock Exchange
Photo = Reuters
The New York Stock Exchange (NYSE) officially announced that it withdrew its plans to delist China Mobile, China Telecom, and China Unicom.
According to CNBC on the 4th (local time), NYSE said in a statement that day, “After further consultation with the relevant regulatory authorities, it withdrew the plan for delisting of Chinese telecom companies.”
NYSE announced on the 1st that it has entered the stock market exit procedure for China Mobile, China Telecom, and China Unicom. At the time, NYSE said, “We plan to suspend trading of NYSE stocks for these companies on the 7th or 11th. As soon as this process is completed, we plan to send delisting documents to the US Securities and Exchange Commission (SEC).” Changed.
The NYSE initiated an action against China’s three major telecommunications carriers in accordance with an executive order of US President Donald Trump’s “banning investment in shares of Chinese military-linked companies” signed in November last year. Through this executive order, President Trump put a total of 35 companies on the list of US stock investment bans that the Pentagon deems associated with the Chinese People’s Liberation Army. China’s three largest telecommunications companies are on this list. The bill goes into effect on the 11th.
Immediately after the announcement of the NYSE statement, the stock prices of the three telecommunications companies, which canceled the bankruptcy procedure on the 5th, surged on the Hong Kong stock market. In the Hong Kong stock market, China Unicom’s intraday share price rose 9.6%, China Mobile’s share price rose 7%, and China Telecom rose 6.7%.
Reporter Sun Han-gyeol [email protected]
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