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Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan on Monday moved to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China’s military. Goldman Sachs, JPMorgan and Morgan Stanley said in filings to the Stock Exchange of Hong Kong that they were beginning steps to terminate 500 Hong Kong-listed structured products they issued to investors with links to values of telecom companies China Mobile, China Telecom and China Unicom or local indexes including the Hang Seng Index – whose components include the telecom companies. US custodian bank State Street said that information published by the U.S. Office of Foreign Assets Control (OFAC) mention that an exchange traded fund which State Street manages was no longer appropriate for U.S. individuals or companies to invest in.
Tuesday, 12 Jan 2021 07:29 AM MYT
JPMorgan yesterday moved to reduce exposure to Chinese telecom companies named in a US ban on investments in companies Washington considers linked to China s military. Reuters pic
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HONG KONG, Jan 12 ― Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan yesterday moved to reduce exposure to Chinese telecom companies named in a US ban on investments in companies Washington considers linked to China s military.
Goldman Sachs, JPMorgan and Morgan Stanley said in filings to the Stock Exchange of Hong Kong that they were beginning steps to terminate 500 Hong Kong-listed structured products they issued to investors with links to values of telecom companies China Mobile, China Telecom and China Unicom or local indexes including the Hang Seng Index ― whose components include the telecom companies.
1:01 PM MYT
In this file photo taken the headquarters of Goldman Sachs is pictured on April 17, 2019 in New York City. - AFP
HONG KONG (Reuters): US banks Goldman Sachs, JPMorgan and Morgan Stanley will delist 500 structured products in the Hong Kong Special Administrative Region (HKSAR), following a US ban on investments in companies Washington deems linked to China’s military.
The products are linked to telecom companies China Mobile, China Telecom and China Unicom and local indexes including the benchmark Hang Seng Index, the three investment banks said in filings to the Stock Exchange of Hong Kong on Sunday (Jan 10) evening.
Wall Street firms in Hong Kong have set out plans to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China’s military
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