Nasdaq to remove four Chinese companies' shares from indexes after US order

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

[BENGALURU] Nasdaq said on Friday it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a US order restricting purchase of their shares. Read more at The Business Times.

Nasdaq said on Friday it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a US order restricting purchase of their shares.[BENGALURU] Nasdaq said on Friday it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a US order restricting purchase of their shares.

The securities, which are not traded on the Nasdaq exchange, will be removed from the indexes on Dec 21. They include China Communications Construction, China Railway Construction Corp, CRRC Corp and Semiconductor Manufacturing International Corp, Nasdaq said in a statement. A White House executive order last month barred US investors from buying securities of blacklisted firms, starting in November 2021. The administration of President Donald Trump alleged the companies were linked to China's military.

China condemned the move, saying the effort ran counter to principles of market competition."The US should stop abusing national power and national security concepts to suppress foreign companies," Foreign Ministry spokeswoman Hua Chunying said on Dec 4. A spokeswoman for index provider MSCI Inc said via e-mail on Friday the firm has spoken with clients about possible changes and will communicate"any necessary changes" soon.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines