NYSE Reverses Course, Says It Won’t Delist 3 Largest Chinese Telecoms

Market Watch ^ | 01/04/21 | Mike Murphy

[Enlightened1]

In a major reversal, the New York Stock Exchange said it no longer intends to delist three Chinese telecom companies that had been targeted by an executive order from President Donald Trump.

In a statement late Monday, the NYSE took back its intent to delist China Mobile Ltd. CHL, 8.94%, China Telecom Corp. Ltd. CHA, 9.68% and China Unicom (Hong Kong) Ltd. CHU, 14.00% , which it had announced late on New Year’s Eve.

American depository receipts of all three companies had fallen sharply in Monday trading. All three companies are also listed in Hong Kong, where shares of China Mobile 941, +5.13%, China Telecom 728, +3.35% and China Unicom 762, +8.50% shot up in Tuesday trading after the announcement.

The NYSE said the reversal comes “in light of further consultation with relevant regulatory authorities.”

The exchange, which is owned by Intercontinental Exchange Inc. ICE, 0.06%, did not further explain its decision, other than to say: “At this time, the Issuers will continue to be listed and traded on the NYSE. NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status.”

Trading in the companies was to have been suspended as soon as Jan. 7.

The delisting announcement last week came in compliance with an executive order by President Donald Trump banning Americans from investing in a handful of Chinese companies that the U.S. claim support or supply the Chinese military.

China had accused the U.S. of “viciously slandering” the companies, and had threatened to retaliate.

The executive order may become a moot point in another two weeks, once Trump leaves office, if incoming President Joe Biden overturns it. The order is set to take effect Jan. 11, a little more than a week before Biden’s inauguration.

[Enlightened1]

Wow!

The NYSE ignores the President of the United States and follows orders from Communist China.

President Trump should arrest, seize all their bank accounts and assets, interrogate them and ship them to Gitmo immediately.

[EEGator]

I guess we like slaves by proxy now instead.

[Gene Eric]

Chinese telecom — nothing to see here.

CNN is ATT — telecom
NBC, MSNB are Comcast — telecom

[Professional]

Speak loudly with no stick has consequences.

[EEGator]

Can POTUS tell the NYSE who they can list? (serious question)

An Executive Order only applies to the Executive Branch, correct?

[Guenevere]

Yes, please!
Let’s see what happens Wednesday

[Don Corleone]

NYSE betting on the Biden come.

[Guenevere]

I’m counting on them losing that bet!

[hoosierboy]

Isn’t Loefflers husband in charge of the NYSE?

[Joe 6-pack]

Hunter must still have some favors to return.

[Bratch]

Husband of Senator Kelly Loeffler Announces Defiance of Trump Executive Order While President Campaigning For Wife in Georgia

Posted on January 4, 2021 by Sundance

The swamp is deep and filled with DeceptiCons who will strike at any given moment once they attain a useful position.  President Trump went to Georgia to campaign for Senator Kelly Loeffler.  Simultaneous to President Trump’s visible support, Loeffler’s husband Jeffrey Sprecher, owner of the New York Stock Exchange (NYSE), announces the NYSE will not blacklist Chinese telecommunications firms outlined in Trump’s executive order.

Background: On November 12, 2020, President Trump signed an executive order prohibiting American companies and individuals from owning shares in any of the 31 Chinese companies previously listed as enabling the People’s Liberation Army, effective Jan 11, 2021.  Three telecommunications companies China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd., were targeted.

Literally as President Trump was traveling to Georgia to rally in support of Senator Loeffler, the NYSE –owned by Loeffler’s husband– announced they would not delist the Chinese companies:

CNBC – The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants.

In a late Monday statement, the NYSE said it dropped the plans after “further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control.”

[…]  The exchange had originally planned to drop those listings in order to comply with an executive order that President Donald Trump signed in November. That order sought to bar American companies and individuals from investing in firms that the Trump administration alleged aid the Chinese military.

That ban is set to take effect Monday, a little more than a week before President-elect Joe Biden is set to to be inaugurated. (link)

Via Axios: “NYSE spokesperson Farrell Kramer declined to comment on what had changed in relation to compliance with the executive order. But Kramer referred Axios to a stock exchange statement saying that “in light of further consultation” it no longer intends to move forward with the delisting action.” (link)

Senator Kelly Loeffler and husband Jeffrey Sprecher, owner of NYSE

Kelly Loeffler was appointed by Georgia Governor Kemp because Loeffler is married to Jeffrey Sprecher; a GOPe party insider, mega-donor, and multi-millionaire CEO of the Intercontinental Exchange (ICE).

Jeffrey Sprecher is the founder and CEO of ICE, which now owns the New York Stock Exchange. Kelly Loeffler’s company, the financial platform Bakkt, is a subsidiary of the Intercontinental Exchange.

Corrupt as hell.  All of it.  Insider party schemes, combined with Deep Swamp politics and personal influence peddling for financial interests.  The familiar network of personal financial benefit.   In 2012 Mrs Loeffler donated $750,000 to Mitt Romney’s Super PAC.

Political connections is why Kelly Loeffler was selected by Governor Kemp, and that same pay-to-play political network is exactly why Nikki Haley originally endorsed her and campaigned for her in the 2020 election.

I have ZERO doubt Loeffler’s husband will be providing considerable financial payments to Nikki Haley in her run for the presidency.   Transparent swamp dealing.

Yes, Jeffrey Sprecher owns the largest stock exchange in the world: the New York Stock Exchange with more than 2,400 listed companies and a market capitalization of about $22.9 trillion…..  There are Always Trillions at Stake.

Market Movers

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I am not often at a lack for words, but the duplicity of this is just over the top.

They literally waited for President Trump to start talking before Loeffler's husband dropped the announcement.

  — TheLastRefuge (@TheLastRefuge2) January 5, 2021

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[Governor Dinwiddie]

What a bunch of crooks. Thanks for connecting the dots.

[Enlightened1]

What?

Wall Street is not a branch of government. Haha! S.M.H.

It’s a National Security Threat and POTUS has that power.

[Enlightened1]

Good postand thanks!

[EEGator]

“Wall Street is not a branch of government. Haha! S.M.H.”

No shit, that’s my point.

“It’s a National Security Threat and POTUS has that power.”

What power, specifically?

[BiteYourSelf]

The check must have cleared.

[Enlightened1]

If that was really your point about Wall Street, then you clearly you need to go to back to Civics 101. Obviously you do not understand the powers of the Presidency and your very confused.

The President has the legal authority. You do know he has a National Security Advisor? If so, then why do you think that position exists?

Haha! S.M.H.

[EEGator]

“If that was really your point about Wall Street, then you clearly you need to go to back to Civics 101. Obviously you do not understand the powers of the Presidency and your very confused.”

It’s “you’re” you simpleton.

“The President has the legal authority.”

Cite it.

“You do know he has a National Security Advisor? If so, then why do you think that position exists?”

Yes. To advise the President.