The NYSE on Thursday said it would delist China Mobile Ltd, China Unicom Hong Kong Ltd and China Telecom Corp Ltd following President Donald Trump's move in November to bar U.S. investment in 31 firms that Washington says are owned or controlled by the Chinese military. Yahoo News
Trump thought he was very smart to delist Chinese companies in NYSE. He does not know what he is doing, only cares about image, that he is tough with his anti China antics to show the daft Americans that America can kick China at will. America is more powerful than China! America can bully China!
Trump does not care about the monies, the dollars the ordinary American investors and funds paid for these shares. The 3 Chinese companies have already collected the money from the American investors. They would be most happy to let these shares become worthless to the American investors. They could now walk away with money in their pockets and tell the Americans that lost money from the delisting to go ask Trump for it. They can ask Trump, 'Where's My Money?'
Singapore also had many bad experience like this when Mahathir practically delisted Malaysia stocks from CLOB. The result was that the shares became worthless in many cases and Singapore investors lost their pants. Similarly when red chips got delisted, many investors again lost their pants. But in Singapore's case, the cause was external if we do not take into consideration the decision to let foreign stocks listed here and scooted.
In America's case, they allowed the Chinese stocks to be listed, allowed Americans to pour in their savings into them, then delist the stocks and throw the water and baby out.
This is simply 'genius' Trump. Making Americans Grieve Again! the Americans do not need any enemies with Trump as president.
Well done Trump.
PS.
The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants. (4 Jan 21)
In a late Monday statement, the NYSE said it dropped the plans after “further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control.”