MSCI to Remove Some Chinese Companies From Indexes -- Update
December 15 2020 - 6:17PM
Dow Jones News
By Josh Beckerman
MSCI Inc. plans to delete the securities of the Chinese
companies referenced in President Trump's Nov. 12 executive order
from its Global Investable Market Indexes, after it conducted
"extensive outreach with the global investment community."
The order bars Americans from investing in 31 Chinese companies
that the U.S. says support China's military, intelligence and
security services. Index compilers including MSCI said they would
assess the blacklist.
The MSCI deletions, which are scheduled for Jan. 5 after market
close, include Semiconductor Manufacturing International Corp.,
China Communications Construction Co., China Railway Construction
Corp. and CRRC Corp.
The list also includes China Spacesat Co., Hangzhou Hikvision
Digital Technology Co. and Dawning Information Industry Co.
This month, FTSE Russell said it would remove securities of
eight Chinese companies from the FTSE Global Equity Index Series,
the FTSE China A Inclusion Indexes and other associated benchmarks.
S&P Dow Jones Indices said certain securities "will be deemed
ineligible for S&P DJI equity indices."
MSCI said it seeks to "ensure that its indexes remain investable
and continue to represent the performance of the opportunity set
available to international institutional investors."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 15, 2020 18:02 ET (23:02 GMT)
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