US Markets

FTSE Russell cuts further three China firms from indexes after U.S. blacklist

Credit: REUTERS/RAPHAEL SATTER

FTSE Russell will delete a further three firms from its global equity indexes after guidance on an executive order by outgoing President Donald Trump barring U.S. investments in some Chinese companies, a hardening of his stance against Beijing

Adds details on Hangzhou Hikvision

LONDON, Jan 4 (Reuters) - FTSE Russell will delete a further three firms from its global equity indexes after guidance on an executive order by outgoing President Donald Trump barring U.S. investments in some Chinese companies, a hardening of his stance against Beijing

China United Network Communications 600050.SS, Semiconductor Manufacturing International Corporation (SMIC) 0981.HK and Nanjing Panda Electronics 600775.SS will be deleted from FTSE Russell's FTSE Global Equity Index Series as well as the FTSE Global China A Inclusion Indexes from Thursday.

FTSE Russell said on Monday it will also remove SMIC, China's top microchip maker, from its FTSE China 50 Index and video security firm Hangzhou Hikvision Digital Technology 002415.SZ from its FTSE China A50 index having removed it from the FTSE Global Equity Index Series last month.

Washington unveiled an executive order in November prohibiting U.S. investments in Chinese companies it said are owned or controlled by the Chinese military. Dozens more were then added to the blacklist in December.

Other global index providers including the New York Stock Exchange, MSCI MSCI.N, S&P Dow Jones Indices and Nasdaq NDAQ.O have also removed firms from their benchmarks.

Shares in China's three biggest telecoms firms China Mobile 0941.HK, China Telecom Corp 0728.HK and China Unicom Hong Kong 0762. fell as much as 5% in Hong Kong on Monday, the first trading session since the NYSE said it would delist them.

China has called the moves "unwise" and oppressive.

(Reporting by Karin Strohecker and Marc Jones; Editing by Dhara Ranasinghe and Alexander Smith)

((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MSCI NDAQ

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More