Asked about the possibility of more Chinese companies being written off, Brendan Ahern, chief investment officer at investment firm KraneShares, said: “I don’t see this going beyond these three specific names, simply because this was already being driven by this executive order.”

Speaking to CNBC’s “Squawk Box Asia” on Monday, he said the matter could “reverse course” after the president-elect Joe Biden He takes the oath of office on January 20.

On the Chinese side, he added, Beijing would want to “give the Biden administration a chance to really start the relationship over.”

Ronald Wan, the non-executive chairman of Partners Financial Holdings, added that any measures Beijing takes are unlikely to be “significant”.

“We will need to know if the Chinese government will take retaliatory measures against the United States, but I think the actual things that need to be done will not be important and may restrict some kind of entities related to the US government or activities in China or Hong Kong. But in reality.” “I think the government is still welcoming American capital and money to go to the Asian and Hong Kong markets,” he told CNBC’s Street Saints Asia on Monday.

Ahern said that investors in the three listed US stocks – China Telecom, China Mobile and China Unicom – would be able to convert them into their Hong Kong-listed shares.