Business

Goldman, Stanley to write off some Hong Kong products after the US investment ban

Hong Kong: HKEx filings on Sunday showed that Goldman Sachs, Morgan Stanley and JP Morgan units will remove a total of 500 Hong Kong-listed structured products.

The delisting came due to comments last week from the US Office of Foreign Assets Control (OFAC) that clarify an order issued in November by President Donald Trump that prevents Americans from investing in Chinese companies that the United States considers linked to the Chinese military, according to the files.

The Hong Kong Exchange and Clearing Company, the operator of the exchange, said in a statement that it “is working closely with relevant exporters to ensure orderly write-offs and facilitate repurchase arrangements arranged by exporters.”

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