US Treasury says no plans to block Chinese listings 'at this time': Report
The United States does not currently plan to stop Chinese companies from listing on USexchanges, Bloomberg reported on Saturday, citing a USTreasury official.
"The administration is not contemplating blocking Chinese companies from listing shares on USstock exchanges at this time," Bloomberg quoted https://bloom.bg/2obHkDb Treasury spokeswoman Monica Crowley as saying.
Reuters reported on Friday that President Donald Trump's administration is considering delisting Chinese companies from USstock exchanges in a move that would be part of a broader effort to limit USinvestment in Chinese companies.
The Treasury did not immediately respond to a Reuters request for comment.
Major US stock indexes slipped on the news, which came days before China celebrates the 70th anniversary of the birth of the People's Republic on October 1, when the world's No. 2 economy will shut down for a week of festivities.
Shares of Hangzhou, Zhejiang-based Alibaba ended down 5.15 per cent. JD.com fell by 5.95 per cent and Baidu Inc declined by 3.67 per cent. The iShares China Large-Cap ETF shed 1.15 per cent.
Shares of New York Stock Exchange-owner Intercontinental Exchange Inc ended down 1.88 per cent and shares of Nasdaq Inc declined by 1.70 per cent.
It was not immediately clear how any delisting would work.
Trade talks between the United States and China are expected to be held October 10-11 after months of tit-for-tat moves by both sides which have weakened global growth and driven rollercoaster moves in markets.