Goldman, Morgan Stanley to delist some products in Hong Kong

HONG KONG (BLOOMBERG)- Goldman Sachs Group, Morgan Stanley and JPMorgan Chase & Co will delist some Hong Kong-listed structured products as a result of US sanctions, according to filings from the Hong Kong stock exchange.

A total of 500 structured products will be affected.

The planned delisting of these products won’t hurt the market and there will be sufficient investment choices to meet demand, Hong Kong Exchanges and Clearing said in a statement Sunday (Jan 10).

“HKEX is working closely with the relevant issuers to ensure orderly delisting, and facilitate buyback arrangements being arranged by the issuers,” the exchange said, adding that it has the world’s largest market with more than 12,000 listed products. “We do not believe this will have a material adverse impact on Hong Kong’s structured products market.”

The exchange said it remains competitive, citing its pipeline for initial stock offerings, and that it will continue to monitor these developments.

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