The New York Stock Exchange (NYSE), after the threats sent by the Chinese Communist Party (CCP), following the executive order of President Trump in which he prohibited the participation of three Chinese telecommunications companies in the stock market, decided to ignore the presidential order and go back on removing the controversial companies, accused of having a direct relationship with the army and the intelligence of the Chinese Communist Party (CCP).
The NYSE, after having announced last week the removal of the list of three Chinese companies by virtue of an order from President Donald Trump, now claims that it is withdrawing the plans to remove the announced shares.
The three companies in question are China Mobile, China Telecom and China Unicom Hong Kong identified as “affiliated with the Chinese military.” As the NYSE itself had anticipated in a statement last week, the investment ban would go into effect on Jan. 11 and trading of the three companies would possibly be suspended on Jan. 7.
But to everyone’s surprise, in a new statement on the website of the parent company ICE, the NYSE has reversed its previous position by announcing, “The New York Stock Exchange LLC (NYSE) announced today that NYSE Regulation no longer intends to proceed with the delisting action regarding the three issuers listed below, which was announced on December 31, 2020. At this time, the Issuers will remain listed and participating on the NYSE.”
As reported by The Associated Press, the shares traded in Hong Kong of the three companies even rose on Tuesday. China Telecom was up 5.7%, China Mobile was up 5.5% and China Unicom was up 6.7%.
Backtracking on executive order
It seems no coincidence that the NYSE decision came after direct threats issued by the CCP when it felt cornered by President Trump’s decision and issued a statement saying, “China opposes U.S. abuse of national security by listing Chinese companies as so-called China’s Communist Military Companies and will take necessary countermeasures.”
Chinese officials have also threatened to respond to previous actions by the Trump administration by creating their own blacklist of U.S. companies.
It is impossible not to ask what happened behind the scenes to justify such a change of course by the NYSE.
What is evident is that the NYSE is speculating that President Trump will leave office in the next few days to be replaced by candidate Joe Biden who, as is known, enthusiastically defends the interests of the CCP.
Under the Trump administration, the United States has managed to intensify economic sanctions and thus put a stop to the overwhelming penetration that the CCP has managed to make in America, through its big companies for many decades with the complicity of local businessmen and politicians.
President Trump and his team are not giving up and it is hoped that on Jan. 6 they can reverse the result of the elections that, thanks to scandalous electoral fraud, gave victory to Biden.
If so, NYSE will likely face stiff penalties for failing to comply with a presidential executive order.