What happened and why? Trading in circles... The New York Stock Exchange (NYSE) took another sudden U-turn when the stock exchange market announced its decision to backtrack its previous ruling on delisting three Chinese telecom behemoths in a bewildering saga.Back and forth… The trigger for this stock market fiasco was the confusion surrounding the new set of rules established by Trump’s administration and the Washington/China tensions. Quick recap...It’s a go-er... Last week, NYSE announced that it will be delisting China Unicom Hong Kong, Telecom Corp & China Mobile from its stock market. These are just 3 of the 35 companies banned for US investing.Actually... you can stay. This week the NYSE had a change of heart, after turning to "regulatory authorities" for advice.The ban covers companies under the 'influence' of Chinese government and military. The back and forth on the 3 Chinese giants was based on not knowing whether they fall under this order or not. If Washington pinpoints a link between them, delisting has to be enforced coming the 11th of January. The Takeaway What's next?... With Trump's presidency coming to an end on January 20th (we're counting the days...), questions on how president-elect Joe Biden will be handling the situation have surfaced. Despite no comments being made by the future president or his administration, this order could be effortlessly revoked or amended to a company-by-company review.
