The firms include China Railway Construction Corp, China Spacesat Co., China Communications Construction Co., CRRC Corp., Hangzhou Hikvision Digital Technology Co., Dawning Information Industry Co. and Semiconductor Manufacturing International Corp, according to a statement late Tuesday. The deletions will take effect at the Jan. 5 close. MSCI will publish its final list at the end of December to reflect any changes to Chinese firms sanctioned by the U.S.
MSCI’s decision follows similar moves by FTSE Russell and S&P Dow Jones this month. While the companies have minimal weightings on benchmarks, the rapid removals show how effective such orders are in reducing Chinese firms’ access to global capital.
Provided by Dow Jones
By Chong Koh Ping MSCI Inc. will strip its indexes of stocks in seven Chinese companies that the U.S. government says help China s military, including the country s largest chip maker and a major producer of surveillance equipment. The move, which will take effect by the close of business on Jan. 5, follows similar actions by other benchmark providers including FTSE Russell and S&P Dow Jones Indices. It will affect 10 securities that trade in either Hong Kong, Shanghai or Shenzhen. Last month, President Trump signed an executive order barring Americans from investing in 31 Chinese companies that the U.S. Defense Department says supply and otherwise support China s military, intelligence and security services.
1 2020-12-14 16:47:43Global Times
Editor : Li Yan
ECNS App Download Pedestrians walk past the New York Stock Exchange (NYSE) in New York, the United States, Sept. 3, 2020. U.S. stocks plunged on Thursday, as a steep sell-off in tech shares dragged down the market. The Dow Jones Industrial Average fell 807.77 points, or 2.78 percent, to finish at 28,292.73. The 30-stock index shed more than 1,000 points, or about 3.5 percent, at the lows. The S&P 500 fell 125.78 points, or 3.51 percent, to end at 3,455.06. The Nasdaq Composite Index sank 598.34 points, or 4.96 percent, to 11,458.10. (Xinhua/Wang Ying)
China s Foreign Ministry criticized Monday a U.S. government move to order the NASDAQ to remove Chinese companies stocks from its indexes, calling the Trump administration s move an abuse of state power by cracking down on Chinese companies and directing global investors to invest in Chinese companies th
Nasdaq to remove shares of 4 Chinese firms from indexes after US order
Photo: REUTERS/Brendan McDermid/Files Premium
Nasdaq said on Friday it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a U.S. order restricting the purchase of their shares.
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