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NYSE to Delist China’s Major Telecommunications Operators — 3rd Update

By Chong Koh Ping and Drew FitzGerald

The New York Stock Exchange will delist China’s three large telecom carriers, after a U.S. government order barring Ameri…

Some Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have already obtained secondary listings in Hong Kong, which could help blunt the impact of such an action.

China Mobile Ltd. — which is among the most valuable of China’s listed state-owned enterprises — will be kicked off the Big Board after more than two decades, along with China Telecom Corp. and China Unicom Hong Kong Ltd.

NYSE said it would suspend trading in securities issued by China Mobile, China Telecom and China Unicom by Jan. 11. NYSE said it would also halt trading in closed-end funds and in exchange-traded products listed on its NYSE Arca exchange if they hold banned stocks.

On Friday, China Unicom said it would release a statement in due course.

China Mobile didn’t immediately respond to requests for comment.

An executive order signed by President Trump in November will block Americans from investing in a list of companies the U.S. government says supply and support China’s military, intelligence and security services.

China Mobile, which has a market value of about $117 billion, wasn’t included on the original blacklist, though its parent — China Mobile Communications Group — was. Its U.S. stock is thinly traded compared with its Hong Kong securities, FactSet data shows.

U.S. shares in China Mobile, the largest of the three companies by market value, declined 29% over the past year, according to FactSet, while China Telecom dropped 30% and China Unicom fell 39%. Over the same span, the S&P 500 index returned 18% and the communications-services sector of the MSCI World Index rose 22%.

Over the past decade, China Mobile shares have declined 15% including dividend payments, FactSet data show, while China Telecom has dropped 32% and China Unicom has fallen 54%. The S&P 500 has gained 267% on the same basis and the MSCI World communications sector has gained 165%.

. — which is among the most valuable of China’s listed state-owned enterprises — will be kicked off the Big Board after more than two decades, along with China Telecom Corp. and China Unicom Hong Kong Ltd.

A China Telecom spokesman had no immediate comment.

NYSE said it would suspend trading in securities issued by China Mobile, China Telecom and China Unicom by Jan. 11. NYSE said it would also halt trading in closed-end funds and in exchange-traded products listed on its NYSE Arca exchange if they hold banned stocks.

On Friday, China Unicom said it would release a statement in due course.

U.S. shares in China Mobile, the largest of the three companies by market value, declined 29% over the past year, according to FactSet, while China Telecom dropped 30% and China Unicom fell 39%. Over the same span, the S&P 500 index returned 18% and the communications-services sector of the MSCI World Index rose 22%.

Over the past decade, China Mobile shares have declined 15% including dividend payments, FactSet data show, while China Telecom has dropped 32% and China Unicom has fallen 54%. The S&P 500 has gained 267% on the same basis and the MSCI World communications sector has gained 165%.

CHINA TELECOM CORPORATION LIMITED stock exchange, news, information, press release, by, chong, koh, ping

Last month, index compilers including MSCI Inc., FTSE Russell and S&P Dow Jones Indices said they would remove some Chinese stocks from their benchmarks because of the order, though they didn’t exclude shares issued by subsidiaries and affiliates.

Over the same span, the S&P 500 index returned 18% and the communications-services sector of the MSCI World Index rose 22%. All figures reflect total returns, including dividends.

The S&P 500 has gained 267% on the same basis and the MSCI World communications sector has gained 165%.

Write to Chong Koh Ping at chong.kohping@wsj.com and Drew FitzGerald at andrew.fitzgerald@wsj.com

(END) Dow Jones Newswires

01-01-21 1724ET

Some Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have already obtained secondary listings in Hong Kong, which could help blunt the impact of such an action.

China Mobile Ltd. — which is among the most valuable of China’s listed state-owned enterprises — will be kicked off the Big Board after more than two decades, along with China Telecom Corp. and China Unicom Hong Kong Ltd.

NYSE said it would suspend trading in securities issued by China Mobile, China Telecom and China Unicom by Jan. 11. NYSE said it would also halt trading in closed-end funds and in exchange-traded products listed on its NYSE Arca exchange if they hold banned stocks.

On Friday, China Unicom said it would release a statement in due course.

China Mobile didn’t immediately respond to requests for comment.

An executive order signed by President Trump in November will block Americans from investing in a list of companies the U.S. government says supply and support China’s military, intelligence and security services.

China Mobile, which has a market value of about $117 billion, wasn’t included on the original blacklist, though its parent — China Mobile Communications Group — was. Its U.S. stock is thinly traded compared with its Hong Kong securities, FactSet data shows.

U.S. shares in China Mobile, the largest of the three companies by market value, declined 29% over the past year, according to FactSet, while China Telecom dropped 30% and China Unicom fell 39%. Over the same span, the S&P 500 index returned 18% and the communications-services sector of the MSCI World Index rose 22%.

Over the past decade, China Mobile shares have declined 15% including dividend payments, FactSet data show, while China Telecom has dropped 32% and China Unicom has fallen 54%. The S&P 500 has gained 267% on the same basis and the MSCI World communications sector has gained 165%.

Some Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have already obtained secondary listings in Hong Kong, which could help blunt the impact of such an action.

Some Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have already obtained secondary listings in Hong Kong, which could help blunt the impact of such an action.

China Mobile Ltd. — which is among the most valuable of China’s listed state-owned enterprises — will be kicked off the Big Board after more than two decades, along with China Telecom Corp. and China Unicom Hong Kong Ltd.

NYSE said it would suspend trading in securities issued by China Mobile, China Telecom and China Unicom by Jan. 11. NYSE said it would also halt trading in closed-end funds and in exchange-traded products listed on its NYSE Arca exchange if they hold banned stocks.

On Friday, China Unicom said it would release a statement in due course.

China Mobile didn’t immediately respond to requests for comment.

An executive order signed by President Trump in November will block Americans from investing in a list of companies the U.S. government says supply and support China’s military, intelligence and security services.

China Mobile, which has a market value of about $117 billion, wasn’t included on the original blacklist, though its parent — China Mobile Communications Group — was. Its U.S. stock is thinly traded compared with its Hong Kong securities, FactSet data shows.

U.S. shares in China Mobile, the largest of the three companies by market value, declined 29% over the past year, according to FactSet, while China Telecom dropped 30% and China Unicom fell 39%. Over the same span, the S&P 500 index returned 18% and the communications-services sector of the MSCI World Index rose 22%.

Over the past decade, China Mobile shares have declined 15% including dividend payments, FactSet data show, while China Telecom has dropped 32% and China Unicom has fallen 54%. The S&P 500 has gained 267% on the same basis and the MSCI World communications sector has gained 165%.

Some Chinese companies, including Alibaba Group Holding Ltd. and JD.com Inc., have already obtained secondary listings in Hong Kong, which could help blunt the impact of such an action.

NYSE to Delist China’s Major Telecommunications Operators — Update

By Chong Koh Ping

The New York Stock Exchange will delist China’s three large telecommunication carriers, following a U.S. government order barring Americans from investing in companies it… | January 1, 2021

NYSE to Delist China’s Major Telecommunications Operators

By Chong Koh Ping

The New York Stock Exchange will delist China’s three large telecommunication carriers, following a U.S. government order barring Americans from investing in firms it says… | January 1, 2021

Alibaba Group: China fines 3 online vendors for misreported prices, sales, Retail News, ET Retail

The ruling Communist Party encourages e-commerce and other online industries but worries about the dominance of major competitors. Party leaders say a..