NYSE drops plan to delist 3 Chinese firms

The New York Stock Exchange says it has withdrawn plans to delist three major Chinese telecom firms. That reverses an announcement on New Year's Eve that it would comply with an executive order by President Donald Trump.

The exchange had planned to remove shares of China Telecom, China Mobile and China Unicom from January 11.

The bourse says the new decision comes in light of further consultation with regulators. It doesn't give any further details.

Trump issued the order in November. It prohibited American investment in Chinese firms with alleged ties to the military.

Beijing opposed the delisting and warned of countermeasures. It said the move went against market rules.