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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...

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...

London (CNN Business)The New York Stock Exchange will delist three Chinese telecommunications stocks to comply with an executive order from the Trump administration — its second about-face on the issue this week.