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REUTERS
BOSTON/WASHINGTON/SINGAPORE MSCI, Inc will cut seven Chinese firms from some of its global indexes, it said on Tuesday, the third major index publisher to do so following US restrictions on owning the companies.
As with similar steps by S&P, Dow Jones Indices and FTSE Russell the move means index-tracking funds will need to divest, the latest disruption to markets from an increasingly tough approach to China by the outgoing Trump administration.
Companies to be deleted include SMIC, China Communications Construction Co. and Hangzhou Hikvision, though MSCI said it will launch new parallel indexes that retain the securities.
4:45 PM MYT
BOSTON/WASHINGTON/SINGAPORE (Reuters): MSCI Inc will cut seven Chinese mainland firms from some of its global indexes, it said on Tuesday (Dec 15), the third major index publisher to do so following US restrictions on owning the companies.
As with similar steps by S&P Dow Jones Indices and FTSE Russell the move means index-tracking funds will need to divest.
Companies to be deleted include SMIC, China Communications Construction Co and Hangzhou Hikvision, though MSCI said it will launch new parallel indexes that retain the securities.
MSCI said it decided to cut the companies after consulting customers following a ban on US investors buying stocks that the US Defence Department regards as backed by the Chinese military.