Shares in China’s big three state-owned telecom companies slid in Hong Kong after the New York Stock Exchange announced their delisting.
HONG KONG: Shares in China’s big three state-owned telecom companies slid in Hong Kong Monday during the first day of trading since the New York Stock Exchange announced it was delisting the firms.
Friday’s move by the NYSE seeks to comply with an order by outgoing US President Donald Trump barring investment in firms with ties to the Chinese military.
As trading began in Hong Kong, China Mobile Communications, China Telecommunications Corp and China Unicom (Hong Kong) Limited all dipped more than three percent.
Shares in China’s state-owned oil giants were also down on fears they could be the next to be delisted in the United States.
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