(Yicai Global) Jan. 5 -- Shares in China’s three state-run telecommunication carriers all bounced back strongly today after the New York Stock Exchange announced yesterday it was no longer proceeding with plans to delist them after further consultation with regulatory authorities.

As of 1:30 p.m. China time, the Hong Kong-listed stock of China Mobile [HKG:0941] were trading up 5.7 percent at HKD46.35 (USD6), of China Unicom [HKG:0762] soared 8.05 percent to HKD4.83 and of China Telecom [HKG:0728] surged 6.22 percent to HKD2.22.

“At this time, the Issuers will continue to be listed and traded on the NYSE. NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status,” the New York bourse said, without going into further details.

On Dec. 31, the NYSE had declared that it would suspend trading in the three carriers’ shares on Jan. 7 to comply with a new executive order, the Holding Foreign Companies Accountable Act, that President Trump signed into law last month. It requires all foreign firms listed on US bourses to declare that they are not owned or controlled by a foreign government. They must also meet the Public Company Accounting Oversight Board’s accounting requirements. China’s three biggest carriers are all controlled by the state and have close ties to the military.

Yesterday, in the first trading day since the announcement was made, China Mobile lost 2.8 percent, China Mobile sank 0.8 percent and China Unicorn nudged up 0.4 percent.

Editor: Kim Taylor