"But that's not important right now."
Posted on 01/05/2021 5:10:21 AM PST by MtnClimber
The New York Stock Exchange said it no longer intends to delist three Chinese telecom giants - a shock reversal of an announcement made only last week and deepening confusion over a U.S. crackdown on firms said to be linked to China's military.
The bourse, which had planned to delist the companies before Jan. 11, said in a brief statement it had made the decision "in light of further consultation with relevant regulatory authorities."
Hong Kong-traded shares in the state-backed firms, China Mobile (NYSE:CHL) Ltd, China Telecom (NYSE:CHA) Corp Ltd and China Unicom (NYSE:CHU) Hong Kong Ltd, surged following the news.
Coming in the final weeks of Donald Trump's presidency, the flip-flop has underscored the lack of clarity about the implementation and implications of the U.S. ban on investment in 35 Chinese companies deemed to have military links.
"(It) shows how little light there is in that set of regulatory guidance so far, especially around the time the U.S. is changing administrations," said Tariq Dennison, managing director at GFM Asset Management in Hong Kong.
Dennison's funds hold China Mobile shares in both Hong Kong and New York. He has almost entirely unwound New York positions in anticipation of needing to find U.S. clients investments with less exposure to risks associated with the investment bans.
Some analysts said they believe the exchange had been told by the Office of Foreign Assets Control, which is responsible for enforcing sanctions, that delistings were unnecessary even though investment in related companies was banned.
(Excerpt) Read more at investing.com ...
The pendulum has swung and now we have Corn Pop Joe and now China and communism are our friends. And Trump is not even out of office yet.
The bourse? What the hell is that it?
Either someone got paid off, or they think they are safe in ignoring Trump now.
What Is a Bourse?
A bourse is a market organized for the purpose of buying and selling securities, commodities, options and other investments. The term bourse is most often used in Europe and can be synonymous with an exchange. “Bourse” is based on the residence belonging to textile merchant Robert Van der Burse, where Belgian traders and financiers would gather and trade with one another in the 13th century.
The bourse.
Had to look that up. A meeting place for merchants.
The bourse is a bourse of course of course.
Yup. The big sellout has begun.
"But that's not important right now."
Yep. The Chicoms got their empty shell installed as POTUS. The managed decline under Obama will be accelerated under president Ho.
Bourse....the writers should eschew obfuscation!
I agree. You should always eschew obfuscation at least 40 times. It aids in digestion.
There are still equities on the NYSE that are from Russia and have their hands tied into the Russian military, including Russian telecos.
Don’t be surprised if Iranian companies get listed on NYSE once Biden is in power, and that more Chinese and Russian companies show up, including Norinko and Kalashniknov concern. (Firms direct owned by the Chinese and Russian militaries).
NYSE doesn’t care about sanctions if it is from a major country.
In case anyone wondered exactly how corrupt the GA Republican party headed by one RINO governor really is.
...The bourse is a bourse of course of course.
I hate you, have that darned song in my head now
The Chinese are sitting on 7 TRILLION DOLLARS OF BAD CORPORATE DEBT!
3 out of 4 new loans are to pay interest on old loans. 1 in 4 Chinese homes is an empty Spec House.
The Chinese Crash is Coming. All of China is SubPrime.
Yep, that is what happens when you have corrupt people in totalitarian control. Their imagination still does not beat reality.
FOR SALE
NYSE all bids excepted
the Biden effect
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