The New York Stock Exchange (NYSE) shocked investors and analysts alike with its abrupt U-turn over an earlier decision to delist China’s big three telcos, China Telecom, China Mobile and China Unicom. The shock was amplified further when, just a day later, the NYSE U-turned a second time, to reinstate the original delisting decision. No explanation was given for this apparent indecision. The initial plan to delist the three telcos was announced by NYSE on the last day of 2020 to conform with an executive order signed on November 12 by outgoing president Donald Trump, outlawing American investment in Chinese firms deemed to be either owned or controlled by the country’s military. It appeared the NYSE felt forced to delist…