Traders work on the floor of the New York Stock Exchange (NYSE) on March 20, 2020 in New York City.
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The New York Stock Exchange said it would begin the process of delisting China Mobile, China Telecom and China Unicom Hong Kong to comply with an executive order issued by the Trump administration. The companies will be suspended from trading between Jan. 7 and Jan. 11.
All three companies have listings in Hong Kong, and the NYSE said they have a right to a review of the decision.
The executive order signed by Donald Trump on November 12 prohibits U.S. investments in Chinese companies that Washington says are owned or controlled by the Chinese military.
“China is increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses, which continues to allow the PRC to directly threaten the United States,” the order…