US ban on China military-linked shares creates investor woe


Source: shepherdgazette.com shepherdgazette.com

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A US ban on American investors holding shares in companies with suspected ties to China’s military sent stocks tumbling on Friday and threatened to create a host of compliance problems for global investors. State-run China Telecom fell as much as 10.4 per cent and rival China Mobile as much as 6.3 per cent in Hong Kong following the executive order from US president Donald Trump, which raised questions about how investors would deal with existing stakes in the widely held companies. The New York-listed stocks of both telecom groups also fell sharply after the announcement. “They are mainstay index members...