S&P Dow Jones Says It’ll Cancel Deletion of China Telco ADRs
- Three firms lost more than $30b in market value to end 2020
- Confusion over Trump’s order sends index providers scrambling
Outside the New York Stock Exchange (NYSE) on Jan. 4.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
S&P Dow Jones Indices said it will no longer delete the U.S.-listed shares of three Chinese telecom firms from its benchmarks, a move that was set to take effect on Thursday.
The index provider will keep the American depository receipts of China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. after the New York Stock Exchange on Monday said it was canceling plans to delist the shares, according to an emailed statement. S&P Dow Jones said it had no comment on the possibility that NYSE will reverse course yet again.