JP Morgan returns to HK warrants hit by China sanctions
US bank faces battle to rebuild client base on sanctioned securities, issuers say
JP Morgan has resumed issuance on the Hong Kong Exchange of listed structured products linked to US-sanctioned names, some 10 months after the bank delisted hundreds of the same products from the exchange.
A US executive order that took effect in January 2020 restricts US persons from buying or selling the securities of firms with alleged ties to the Chinese military. This prompted JP Morgan and two other US banks – Goldman Sachs and Morgan Stanley – to pull HKEX-listed derivatives warrants and
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