U.S.-traded shares of Chinese companies fell Wednesday as the New York Stock Exchange changed its mind once again on whether or not to delist a trio of China-based telecom stocks.
American depositary receipts of China Mobile Ltd.
dropped 7%, while ADRs of China Telecom Corp.
declined 4% and China Unicom (Hong Kong) Ltd.
plummeted 27% after the NYSE said Wednesday it would delist the securities.
That follows Tuesday, when U.S.-listed shares of Chinese companies rallied after the NYSE’s statement late Monday it would not delist the companies, reversing a decision announced on Dec. 31 that it would.
Similarly, U.S. traded shares of Alibaba Group Holding Ltd.
declined 1.5%, shares of Pinduoduo Inc.
fell 2.3%, JD.com Inc.
fell 4.3%, and Baidu Inc.