Trump considers delisting Chinese firms from U.S. stock markets: source
By Alexandra Alper WASHINGTON (Reuters) - The U.S.
By Alexandra Alper
WASHINGTON (Reuters) - The U.S. government is considering the possibility of delisting Chinese companies from U.S. exchanges, a source briefed on the matter said on Friday, in what would be a radical escalation of trade tensions between the U.S. and China.
The move would be part of a broader effort to limit U.S. investments into China, the source said, confirming an earlier report by Bloomberg that sent shockwaves through financial markets.
Shares of Alibaba Group Holding, JD.com, Pinduoduo, Baidu, Vipshop Holdings, Baozun and IQIYI fell between 2% to 4% in afternoon trading.
China's yuan currency, traded in off shore markets, fell by 0.4% against the dollar after the news to trade near its weakest against the greenback in about three weeks.
Exact mechanisms for how to delist the companies were yet to be worked out and any plan is subject to approval by President Donald Trump, who has given the green light to the discussion, Bloomberg reported https://www.bloomberg.com/news/articles/2019-09-27/us-china-trade-war-latest-us-weighs-limits-on-portfolio-inflows, citing a person close to the deliberations.
Trade talks between the United States and China are set to resume on Oct. 10 in Washington, CNBC reported on Thursday, citing three people close to the talks.
The report also rocked New York's broader stock indexes, knocking around half a percent off the value of the S&P 500 in midday trading.
The largest U.S. exchange-traded fund tracking Chinese stocks, the iShares China Large-Cap ETF, slid by more than 1.4% from its level before the report to hit its lowest since early September.
(Reporting by Alexandra Alper, Patricia Zengerle and Chris Sanders in Washington and Shubham Kalia and Supantha Mukherjee in Bengaluru; editing by Arun Koyyur and Patrick Graham)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.