FTSE Russell to drop eight Chinese companies after U.S. blacklisting

📆 05-12-20 09:25:00
📰 Reuters

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Index provider FTSE Russell said on Friday it will delete shares of Hikvision and seven other Chinese companies from certain products after a U.S. order restricting the purchase of shares in those firms.

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo

The move shows how a recent bid by the White House to give teeth to a blacklist of Chinese companies allegedly backed by the Chinese military could crimp U.S. investments in the country, often held in passive products built on broad indexes. Rival index provider MSCI Inc had previously said its products would “reflect any necessary changes” depending on U.S. law. A spokeswoman did not immediately respond to questions on Friday.

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