China telco shares hit by NYSE delisting announcement

https://www.reuters.com ^ | 1/4/2021 | (Reuters)

[RomanSoldier19]

Shares in China’s three biggest telecoms companies fell as much as 5% in Hong Kong on Monday, the first trading session since the New York Stock Exchange (NYSE) said it would delist the firms in a move China branded unwise and oppressive.

By the close of trade, the shares had mostly recovered.

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 31 firms it says are owned or controlled by China’s military.

Hua Chunying, a spokeswoman for China’s foreign ministry, said the U.S. move was “unwise”, oppressive, and reflected how “random, arbitrary and uncertain” U.S. rules can be.

“China is firmly opposed to the United States politicisation of the trade issue, the abuse of the state’s power and stretching of the concept of national security to suppress Chinese companies,” she told a regular news briefing on Monday.

[RomanSoldier19]

The 1 Reason Imperial Japan Attacked Pearl Harbor: Oil. Or an oil embargo, that is.

https://nationalinterest.org/blog/buzz/1-reason-imperial-japan-attacked-pearl-harbor-oil-88771

[mewzilla]

Would the NYSE be doing this if they thought BiteMe was gonna be prez...?

[RomanSoldier19]

A lot is still unclear on how the Securities and Exchange Commission may implement the Holding Foreign Companies Accountable Act, which passed with bipartisan support