The U.S. traded stocks of Chinese companies fell on Wednesday when the New York Stock Exchange once again planned to list a trio of telecommunications stocks in China or not.
US Depositary Receipts from China Mobile Ltd. CHL,
decreased by 7%, while the ADRs of China Telecom Corp. CHA,
it decreased by 4% and China Unicom (Hong Kong) Ltd. CHUFF,
fell 27% after the NYSE said Wednesday it would remove the bonds.
This follows on Tuesday, when U.S. listed shares of Chinese companies rose after the NYSE statement late Monday, it will not make the companies’ delisting and reverse a decision announced on December 31 that this would happen.
The back-and-forth action of the exchange stems all from an executive order of President Donald Trump in November that takes effect on January 11th.
Consequently, the KraneShares China Internet ETF KWEB,
0.5% lower, while the iShares MSCI China ETF MCHI,
was less than 0.1% lower.
Similarly, US shares of Alibaba Group Holding Ltd. BABA trades,
shares decreased by 1.5%, shares of Pinduoduo Inc. PDD,
fell 2.3%, JD.com Inc. JD,
it fell 4.3%, and Baidu Inc. BIDU,
gegly 0.9%.