Three Chinese Telecom Giants’ Shares Rise as S&P Dow Jones Scraps Exclusion Plan
Zhang Yushuo
DATE:  Jan 06 2021
/ SOURCE:  Yicai
Three Chinese Telecom Giants’ Shares Rise as S&P Dow Jones Scraps Exclusion Plan Three Chinese Telecom Giants’ Shares Rise as S&P Dow Jones Scraps Exclusion Plan

(Yicai Global) Jan. 6 -- Shares of China's three largest mobile carriers gained after S&P Dow Jones Indices said today that it is taking back its plan to exclude the three stocks from its global indexes following delisting threats.

At 2 p.m., China Mobile's stock price [HKG:0941] was 1.3 percent up at HKD46.80 (USD6). China Telecom [HKG:0728] surged 2.31 percent to HKD2.21. China Unicom [HKG:0728] edged up 2.8 percent to HKD4.41.

The American Depositary Shares of the three companies were supposed to not feature on the New York-headquartered financial giant's indexes anymore on Jan. 7 because of the New York Stock Exchange's delisting orders that were later scrapped.

On Jan. 4, the NYSE walked back on its intent to delist the three firms' shares after consulting with regulators. The original plan was prompted by President Donald Trump's executive order to prohibit Americans from investing in an increasing number of Chinese firms alleged to have military links.

Editor: Emmi Laine

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Keywords:   China Mobile,China Unicom,China Telecom