NYSE to delist Chinese firms in latest reversal

The New York Stock Exchange has made another U-turn over the delisting of three major Chinese telecom operators. The bourse now says it will remove the firms after all.

The exchange announced Wednesday that it will delist China Telecom, China Mobile and China Unicom on January 11th. It said the decision follows new guidance from the Treasury Department.

The exchange previously said on New Year's Eve that the firms would be removed in line with an executive order from President Donald Trump.

The order bans investment in Chinese businesses suspected of close ties with the People's Liberation Army.

But on Monday the exchange retracted that decision, saying it would keep the companies listed.

Treasury Secretary Steven Mnuchin reportedly disagreed with the retraction.