Shares in Chinese telcos under pressure

Shares of three leading Chinese state-owned telcos are sliding again today, in the wake of them being delisted from the US amid protests from Beijing.

Shares in China Mobile (0941) are down by 0.57 percent at HK$43.60. China Unicom (HK) (0762) has shed 2.01 percent at HK$4.38, And China Telecom (0728) is down by 0.96 percent at HK$2.07.

The New York Stock Exchange announced suspension of trading in the American depositary shares of China Mobile, China Telecom Corp and China Unicom Hong Kong before January 11.

US President Donald Trump has said the companies were among those directly supporting the Chinese military, intelligence and security apparatuses and aiding in their development and modernization.