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Wall Street Firms Reduce Exposure To Chinese Telcos As U.S. Ban Approaches
Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan 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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HONG KONG/ SHANGHAI : Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan 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.
Parts of the ban were set to come into force later on Monday.
(Adds details of the structured products and context) By Alun John HONG KONG, Jan 11 (Reuters) - U.S. banks Goldman Sachs JPMorgan and Morgan Stanley .
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. | January 16, 2021
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 evening.
Goldman, Morgan Stanley, JPMorgan to delist 500 Hong Kong products
Hong Kong Exchanges and Clearing said it was working closely with the relevant issuers to ensure orderly delisting, and facilitate buyback arrangements being arranged by the issuers
Reuters | January 10, 2021 | Updated 22:13 IST
Goldman Sachs, Morgan Stanley and JPMorgan units will delist a total of 500 Hong Kong-listed structured products, Hong Kong stock exchange filings on Sunday showed.
The delistings are because of statements last week by the US Office of Foreign Assets Control clarifying a November order from President Donald Trump which banned Americans from investing in Chinese companies that the US deems to have links with China s military, the filings said.