Shares in China’s three large telecom carriers fell Monday, after the New York Stock Exchange said it would delist them to comply with a U.S. government ban.
In Monday-morning trading in Hong Kong, shares in the largest,
China Mobile Ltd.
, fell as much 4.5%, putting the stock on course for its lowest close since June 2006. Shares in smaller competitor
China Telecom Corp.
lost as much as 5.6%, while
The NYSE said Friday that it would suspend trading in securities issued by the three companies by Jan. 11, while halting trading in closed-end funds and exchange-traded products that hold banned stocks.
An executive order signed by President Trump in November will block on Jan. 11 Americans from investing in companies the U.S. government says help the Chinese military. It is a fresh setback for U.S. investors in Chinese telecom