Curious NYSE decision on Chinese delisting and Georgia election

Tuesday brings Georgia on my mind as the Senate runoff election is held pitting Republicans Kelly Loeffler and David Perdue against Democrats Rev. Raphael Warnock and Jon Ossoff.

The winners of this runoff could tilt the power of the Senate in either direction should either party sweep the election.

However last night a curious story came out that needs to be addressed.

The New York Stock Exchange (NYSE) said it will no longer move to delist three Chinese telecommunications giants: China Telecom, China Mobile and China Unicom despite the alleged non-compliance of these Hong Kong-based firms with an executive order President Donald Trump signed in November.

The executive order cited sought to bar US investors from trading in firms that the Trump administration alleged aid the Chinese military and flaunt US financial transparency rules.

Sen. Loeffler, who describes herself as a staunch Trump supporter, is married to Jeffrey Sprecher the founder, chairman, and CEO of Intercontinental Exchange (ICE) and chairman of the NYSE.

Loeffler also has strong ties to Wall Street. She was CEO of Bakkt, a subsidiary of ICE before being named by Republican Gov. Brian Kemp to the Senate in December 2019 after Republican Senator Johnny Isakson resigned for health reasons.

The NYSE announcement came just hours before President Trump was to rally the troops to vote for Loeffler and Perdue in in Dalton, Georgia.

Just last month a Loeffler staffer Harrison Deal, 20, was killed in a horrific car accident as he was traveling to a speech by Vice President Mike Pence. Deal was also reportedly a close personal friend to Kemp’s daughter.

I’ll write about Wednesday’s Electoral College prediction tomorrow morning.

3 thoughts on “Curious NYSE decision on Chinese delisting and Georgia election

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