New York Stock Exchange Withdraws Delisting Plan for China's Top 3 Telecom Companies

"Decided after consultation with relevant regulatory authorities," explained
Top 3 Chinese telecom companies rise in Hong Kong stock market and others

[Asia Economy Reporter Naju-seok] The New York Stock Exchange (NYSE) has withdrawn its plan to delist China's three major telecommunications companies. The decision was reversed just four days after announcing the delisting policy.

New York Stock Exchange
[Image source=AP Yonhap News]

According to Bloomberg on the 4th (local time), the NYSE has backed down from its plan to delist China Mobile, China Telecom, and China Unicom, the three major telecom companies. Regarding this decision, the NYSE stated, "The decision was made after consultations with relevant regulatory authorities."

Following the reversal of the delisting policy, the stocks of China Mobile, China Telecom, and China Unicom have risen more than 6% on the Hong Kong stock market.

Earlier, on the 31st of last month, the NYSE announced it would delist the three major Chinese telecom companies in accordance with an executive order by U.S. President Donald Trump. President Trump issued an executive order last November banning investments in Chinese companies owned or controlled by the Chinese military, and the NYSE made the delisting decision based on this order. Accordingly, trading was scheduled to be suspended from the 7th to the 11th.

After the NYSE's decision became known, the market feared that the U.S. and China might engage in tit-for-tat retaliation.

This content was produced with the assistance of AI translation services.