US banks Goldman Sachs JPMorgan and Morgan Stanley will delist 500 Hong Kong-listed structured products, following a US ban on investments in companies Washington deems linked to China’s military, reported Reuters.
The products are linked to telecom companies China Mobile, China Telecom and China Unicom and local indexes including the benchmark Hang Seng Index, the three investment banks said in filings to the Stock Exchange of Hong Kong on Sunday evening.
Hong Kong’s markets watchdog, the Securities and Futures Commission, said it had stressed to the investment banks that “any action taken by them should be necessary, fair, and having regard to the best interest of investors and integrity of the market, and that investors should also be properly informed as appropriate.”