ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Chinese telecommunication companies were delisted at the New York Stock Exchange this month as Donald Trump’s executive order that was signed in November last year takes effect.
The former POTUS wants them to remove them as he believes they have ties with the Chinese military, which is a big threat to America’s security.
The NYSE announced early this month that it will be delisting China Mobile, China Telecom Corp., and China Unicom Hong Kong Ltd. Immediately after the notice was issued, stocks of these telcos have dramatically plunged.
Request for review as the new US president is inaugurated
Now, on Jan. 20, Joe Biden took over the White House after he was sworn in as the 46th president of the United States. With the new POTUS, the delisted Chinese companies have submitted a request for review of the NYSE decision.
Reuters reported that the three leading telecommunications in China are hoping to reverse the delisting of their American depositary shares (ADSs) and trading suspension that was ordered by Trump. The request for review was forwarded to the NYSE by China Telecom Corp. less than 24 hours after Joe Biden was officially declared as the new president. As per the rules, the New York Stock Exchange must schedule a review at least 25 business days after receiving the request.
“The company requested that the committee reverse the Determination and stay the trading suspension of the ADSs pending review of the Determination,” China Telecom stated in its request for review document dated Jan. 21. “Investors are cautioned that there is no assurance that the company’s review request for the NYSE’s reversal request will be successful.”
The finalized delisting order
The NYSE initially announced it will delist the said Chinese telcos in early January, then it backtracked and revoked the statement. The next day, the stock exchange released a new statement and upheld the initial decision once again.
As previously reported by BBC News, the changing of the ruling was based on the “new specific guidance” that was sent to the NYSE by the Department of Treasury’s Office of Foreign Assets Control. The office explained that “the issuers have a right to a review of this determination” so it can change the decision. Thus, in the end, China Mobile, China Telecom Corp., and China Unicom Hong Kong Ltd. will be delisted.
