China stocks fall as NYSE flip-flops back to delisting 3 Chinese telecoms

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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.

The exchange’s back-and-forth action all stems from an executive order by President Donald Trump back in November scheduled to go into effect on Jan. 11.

Accordingly, the KraneShares China Internet ETF

was down 0.5%, while the iShares MSCI China ETF

was down less than 0.1%.

Similarly, U.S. traded shares of Alibaba Group Holding Ltd.

declined 1.5%, shares of Pinduoduo Inc.

fell 2.3%, Inc.

fell 4.3%, and Baidu Inc.

slipped 0.9%.

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