Shares in the US of Chinese companies fell on Wednesday, when the New York Stock Exchange changed its mind about whether or not to eliminate a trio of Chinese telecommunications shares.
US Mobile Receipts from China Mobile Ltd. CHL,
decreased by 7%, while ADRs China Telecom Corp. CHA,
decreased by 4% and China Unicom (Hong Kong) Ltd. CHUFF,
fell 27% after the NYSE said on Wednesday it would withdraw securities.
This follows on Tuesday, when the US listed shares of Chinese companies gathered after the NYSE statement late Monday, would not withdraw the companies, canceling a decision announced on December 31 that it would do so.
The action before and after the exchange comes from an executive order of President Donald Trump in November, scheduled to enter into force on January 11.
Accordingly, the KraneShares China Internet KWEB ETF,
decreased by 0.5%, while iShares MSCI China ETF MCHI,
fell below 0.1%.
Similarly, the USA traded shares in Alibaba Group Holding Ltd. BABA,
shares of Pinduoduo Inc. fell 1.5%. PDD,
fell 2.3%, JD.com Inc. JD,
fell 4.3% and Baidu Inc. BIDU,
decreased by 0.9%.