CHU - Chinese telecom stocks bounce after NYSE says listings will remain

China's state-owned telecom names are rebounding heavily today after the NYSE reversed course on a plan to delist them, a move that spurred overnight stock gains in Asia. That came upon "further consultation" with regulators about an executive order signed by President Trump in November. "NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status," the exchange says. On the NYSE today: China Mobile (CHL) is up 9.4%; China Telecom (CHA) is up 9.4%; China Unicom (CHU) is up 13.5%. The new decision also spurred a short-lived 0.7% rally for the offshore yuan. The NYSE's new move reverses what Jefferies analyst Edison Lee said was a puzzling action in the first place, considering the companies hadn't been put on the U.S. list of companies it said were owned or controlled by China's military. It's "the most bizarre series of events"

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Chinese telecom stocks bounce after NYSE says listings will remain