The UK’s FTSE Russell, one of the world’s leading equity indices, decided to remove several more Chinese companies from its indices after some were kicked out of the US stock market.
Starting this Thursday, China United Network Communications Group, SMIC and Nanjing Panda Electronics will be removed from the FTSE Russell FTSE Global Equity Index series as well as the FTSE Global A-share Index of China.
FTSE Russell, wholly owned by the London Stock Exchange Group, also said on Monday (4 January 2021) that it would remove China’s largest chipmaker SMIC and Hangzhou Hikvision Digital Technology from the FTSE China50 Index. Hikvision was removed from the FTSE World Equity Index series last month.
President Trump issued an executive order in November that prohibits any American or institution from investing in Chinese companies owned or controlled by the Chinese Communist Party military. In December, dozens of Chinese companies were placed on a U.S. blacklist.
Other global index providers, including the New York Stock Exchange, MSCI, S&P Dow Jones and Nasdaq, have also dropped Some Chinese companies from their benchmarks.
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