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After the NYSE ban, Bank of America abandoned products related to Chinese stocks



The fund manager State Street Global Investments said in a statement, Hang Seng (Hang Seng Index) Index tracking company TraHK will no longer invest in companies deemed to be associated with or supported by the Chinese military sanctioned by President Donald Trump’s executive order in November.
at the same time, Black stone (black) In a report to clients, it said that its iShares ETF has also been adjusted based on the basic index for sanctions.
Trump also signed an executive order last week banning transactions with eight Chinese payment apps, including Alibaba (Baba) Alipay affiliated with Ant Group. Most importantly, the White House is considering prohibiting Americans from investing in Alibaba. Tencent (TCEHY), But it is not clear whether the ban can be realized.

The two parties’ hard-line pressure on China is expected to continue in the Biden era

Trump’s term is coming to an end, but he is not expected to be elected President Biden when he reverses the position of the Chinese government in his office later this month.

Cowen analyst Jaret Seiberg said: “Both parties are putting pressure on China,” Biden will “have bigger priorities to advance, such as obtaining new stimulus packages. [package]. “

This may mean that the US capital market and access to the US consumer base may still be a difficult task for Chinese companies.

Seiberg said that in fact, Biden may become tougher in China.

“This may include asking Congress to shorten the three-year period, and Chinese companies must check their audits before they are delisted by U.S. exchanges.”


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