US House panel targets Chinese listings on US exchanges

Anil Panchal FXStreet

“A U.S. House of Representatives panel focused on protecting investors will hold a hearing on Sept. 22 about risks related to Chinese stock market listings on American exchanges,” said Reuters on Tuesday.

The news adds that the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets hearing will take place among growing concerns about recent Chinese government actions that spurred sudden and unexpected swings in share prices of Chinese shares listed on U.S. exchanges.

Additional details (from Reuters)

Earlier this week, for example, China forbade under-18s from playing video games for more than three hours a week, hitting shares of some Chinese gaming companies traded in the United States.

US lawmakers have also complained about Chinese corporate accounting practices and alleged ties between some Chinese companies and the military.

Market reaction

Although the news probes the latest upbeat sentiment in the market, traders paid little heed to the announcement while waiting for the key data in Asia.

Read: AUD/USD: Steady at two-week top around 0.7300, Australia Q2 GDP eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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