China Telecom pushed out of the US market

The US communications regulator voted to revoke China Telecom's license in America for reasons of national

security, which was another step by Washington against what it considers possible infiltration of Chinese companies into key networks.

FCC decisionmeans that China Telecom Americas must stop providing services in the United States within 60 days. China Telecom, China's largest telecommunications company, has provided telecommunications services in the United States for nearly 20 years.

This news led to a sharp drop in stocksUS-listed Chinese tech companies and their Hong Kong stocks also saw significant sell-offs, causing the Hang Seng Index to drop more than 1%.

The Hang Seng tech index lost more than 3% and hit major players such as Tencent, Alibaba, JD.com and XD.

Source: theguardian

Cover: golosameriki

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