New York: (AP) The New York Stock Exchange says it is withdrawing plans to remove shares of three Chinese state-owned phone carriers under an order by President Donald Trump. The exchange cited further consultation with U.S. Regulators but gave no other details of its decision in a notice issued late Monday.Also Read - Viral Video: Husband & Wife's Romantic Dance on Manike Mage Hithe Wins Hearts | Watch
The NYSE earlier announced plans to remove China Telecom Corp. Ltd., China Mobile Ltd. And China Unicom Hong Kong Ltd. After Trump’s order in November barring Americans from investing in securities issued by companies deemed to be linked to the Chinese military. Also Read - Samsung Power Adaptor Duo: Samsung Launches New 35W Power Adaptor Duo At Rs. 2,299 In India | Checkout Details Here
Hong Kong-traded shares in the three companies surged Tuesday. China Telecom rose 5.7 per cent, China Mobile jumped 5.5 per cent and China Unicom surged 6.7 per cent. Shares in all three have fallen recently. Also Read - NW vs BT Dream11 Team Prediction, Fantasy Cricket Hints Abu Dhabi T10: Captain, Vice-captain, Playing 11s For Today's Northern Warriors vs Bangla Tigers, Team News For Match 29 at Sheikh Zayed Stadium 7:30 PM IST December 2 Thursday
The Chinese government has accused Washington of misusing national security as an excuse to hamper competition and has warned that Trump’s order would hurt U.S. And other investors worldwide.
Political analysts expect little change in policy under President-elect Joe Biden due to widespread frustration with China’s trade and human rights records and accusations of spying and technology theft.
US officials have complained that China’s ruling Communist Party takes advantage of access to American technology and investment to expand its military, already one of the world's biggest and most heavily armed. (AP)