The exchange said Wednesday that it would end stock trading in China Mobile (CHL), China Telecom (TEA) and China Unicom (CHU) on January 11th. The decision was made after President Donald Trump banned Americans at the end of last year from investing in companies that the U.S. government suspects are owned or controlled by the Chinese military.
The NYSE abruptly changed its position on the matter twice, sowing confusion among investors and devastating the companies’ shares.
The exchange announced last week that it would exclude shares in China Mobile, China Telecom and China Unicom. But he reversed the course on Monday, citing “additional consultations with the relevant regulatory authorities.”
As of Wednesday, the exchange had returned to its original position, citing a “new specific guidance” from the US Treasury Department that was delivered on Tuesday.
– This story will be updated.