Trump administration officials are weighing delisting Chinese companies from American stock exchanges and putting a limit on U.S. government pension funds’ exposure to the Chinese market.
Alibaba shares dropped 5% on the report. Baidu and JD.com also traded lower.
The move would come as the U.S. and China are set to resume trade talks on Oct. 10 in Washington and as the Chinese government is taking steps to increase foreign access to its markets.
China will not be happy and will retaliate. Oct Trade talks progress was a lie, and now it is over, the timing of releasing this news from White House is very curious, just in the midst of impeachment storm.
Our view is that Trump is looking to create market distractions to shift the news away from the impeachment. Expect more U-turn from Trump and more volatility in the stock market in Oct..
Alibaba shares dropped 5% on the report. Baidu and JD.com also traded lower.
The move would come as the U.S. and China are set to resume trade talks on Oct. 10 in Washington and as the Chinese government is taking steps to increase foreign access to its markets.
China will not be happy and will retaliate. Oct Trade talks progress was a lie, and now it is over, the timing of releasing this news from White House is very curious, just in the midst of impeachment storm.
Our view is that Trump is looking to create market distractions to shift the news away from the impeachment. Expect more U-turn from Trump and more volatility in the stock market in Oct..
