Atlas Organization founder Jonathan Ward discusses U.S.-China relations.
President Trump is increasing pressure on China, and this time he’s targeting capital markets.
Continue Reading Below
On Thursday, Trump signed an executive order banning Americans from investing in a group of Chinese companies his administration says supply and support China’s military.
The order blocks American companies and individuals from owning shares directly or through funds that include any of reportedly 31 companies identified by the U.S., including large state-run aerospace, shipbuilding and construction companies as well technology companies.
CORONAVIRUS RECOVERY WILL STALL SAYS HARVARD ECONOMIST
Although the executive order did not mention specific companies by name, shares of technology and telecom companies, with significant government control, were lower, including China Telecom, China Mobile and China Unicom.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CHA | CHINA TELECOM | 34.16 | -2.14 | -5.90% |
| CHL | CHINA MOBILE LTD. | 33.09 | -1.39 | -4.03% |
| CHU | CHINA UNICOM LTD. | 6.80 | -0.34 | -4.83% |
Some of these companies are listed on major U.S. exchanges, including the New York Stock Exchange which is owned by ICE and the Nasdaq.
The Nasdaq declined to comment on the developments, while inquires were still pending with the NYSE.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ICE | INTERCONTINENTAL EXCHANGE INC. | 98.31 | -1.68 | -1.68% |
| NDAQ | NASDAQ OMX GROUP INC | 126.85 | -2.94 | -2.27% |
This is a developing story.
