CHU - Chinese telecoms maintain gains as administration suggests reprieve is 'temporary'

Headed into the market close, state-owned Chinese telecoms are mostly holding their session-long gains following a reversal of the NYSE's decision to delist the stocks: China Mobile (CHL) +9.1%; China Telecom (CHA) +7.5%; China Unicom (CHU) +11.9%. The question for investors whipsawed by the stock movements: whether the decision will be re-reversed yet again. The administration is suggesting that the NYSE's stance is a "temporary reprieve," and Fox Business' Liz Claman says a source tells her NYSE has "full intent" on complying with the executive order, "once things are clarified." The NYSE based its decision to maintain the stocks' listings on "consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control" - and presumably even further consultation could lead to another change in stance. Treasury Secretary Steven Mnuchin called NYSE President Stacey Cunningham to express "disapproval" with the exchange's decision. The order signed by President Trump is

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Chinese telecoms maintain gains as administration suggests reprieve is 'temporary'