China stocks fall as NYSE flip-flops back to delisting 3 Chinese telecoms – MarketWatch

U.S.-traded shares of Chinese companies fell Wednesday as the New York Stock Exchange changed its mind once again on whether or not to delist a trio of China-based telecom stocks.

American depositary receipts of China Mobile Ltd.
CHL,
-5.45%

dropped 7%, while ADRs of China Telecom Corp. 
CHA,
+3.74%

 declined 4% and China Unicom (Hong Kong) Ltd. 
CHUFF,
-27.27%

plummeted 27% after the NYSE said Wednesday it would delist the securities.

That follows Tuesday, when U.S.-listed shares of Chinese companies rallied after the NYSE’s statement late Monday it would not delist the companies, reversing a decision announced on Dec. 31 that it would.

The exchange’s back-and-forth action all stems from an executive order by President Donald Trump back in November scheduled to go into effect on Jan. 11.

Accordingly, the KraneShares China Internet ETF
KWEB,
-2.87%

was down 0.5%, while the iShares MSCI China ETF
MCHI,
-2.06%

was down less than 0.1%.

Similarly, U.S. traded shares of Alibaba Group Holding Ltd.
BABA,
-5.32%

declined 1.5%, shares of Pinduoduo Inc.
PDD,
-5.58%

fell 2.3%, JD.com Inc.
JD,
-7.66%

fell 4.3%, and Baidu Inc.
BIDU,
-4.69%

slipped 0.9%.