Goldman, Morgan Stanley to delist some Hong Kong products after US investment ban

Goldman, Morgan Stanley to delist some Hong Kong products after US investment ban

A floor trader walks during afternoon trading at the Hong Kong Stock Exchange in Hong Kong
File photo of afternoon trading at the Hong Kong Stock Exchange in Hong Kong, Sep 26, 2016. (File photo: REUTERS/Bobby Yip)

HONG KONG: Goldman Sachs, Morgan Stanley and JPMorgan units will delist a total of 500 Hong Kong-listed structured products, Hong Kong stock exchange filings on Sunday (Jan 10) showed.

The delistings are because of statements last week by the US Office of Foreign Assets Control clarifying a November order from President Donald Trump that banned Americans from investing in Chinese companies that the US deems to have links with China's military, the filings said.

Bourse operator Hong Kong Exchanges and Clearing said in a statement it was "working closely with the relevant issuers to ensure orderly delisting, and facilitate buyback arrangements being arranged by the issuers".

Source: Reuters/dv

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