© Reuters. View of the NYSE building in New York City
(Reuters) – The New York Stock Exchange announced Wednesday that it will delist three Chinese telecommunications companies in another U-turn starting Jan. 11, the day after US Treasury Secretary Steve Mnuchin told NYSE chief he was with his previous one Decision to reverse the company does not agree with Delistings.
The latest move marks the third U-turn amid confusion over the rules set by the Trump administration and escalating tensions within Washington over China policy.
On Monday, the exchange reversed a decision announced just last week to remove China Telecom (NYSE 🙂 Corp Ltd and China Unicom (NYSE 🙂 Hong Kong Ltd after consulting with regulators in connection with the U.S. Treasury Department's Foreign Property Control Office made.
The plans to delist the three Chinese companies were sparked by a White House order banning US investments in Chinese military-related companies.
On Tuesday, Mnuchin announced to NYSE President Stacey Cunningham that he disagreed with the exchange's previous decision.
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