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Major stock indices to remove more Chinese companies following order by Joe Biden Jodi Xu Klein More Chinese companies will be removed from major US stock indices following an executive order by US President Joe Biden. Photo: Reuters
S&P Dow Jones Indices has announced that it will remove more Chinese companies from its indices to align with an executive order by US President Joe Biden that prohibits investment in businesses believed to have ties to the Chinese military.
The company, which maintains the Dow Jones Industrial Average and Standard & Poor s 500, said on Wednesday it would drop 25 companies - including Aerospace Communications Holdings, China Shipbuilding Industry Co and Inner Mongolia First Machinery - from its benchmarks on August 2.