Under pressure from the administration of US President Donald Trump, the stock exchange operator New York Stock Exchange (Nyse) now wants to exclude three large Chinese telecommunications companies from trading. The decision is made in the course of “new specific guidelines” by the Ministry of Finance, announced the Nyse.
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It’s the second U-turn in a very short time. Last week, the stock exchange announced that it would block China Mobile, China Unicom and China Telecom. However, this was revised again on Monday. So now trading in the company’s papers is to be ended as initially planned.
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The background to this is a decree by President Donald Trump, who in November prohibited US investments in companies that are allegedly connected to the Chinese military. In accordance with the order, the three groups will be excluded from trading on the Nyse from January 11, the New York Stock Exchange said.
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However, the decision is not entirely due to the Trump administration. Congress in Washington also passed a law stating that shares of companies that do not adhere to the transparency rules of the US may not be traded on US stock exchanges.
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