The S&P Dow Jones indices and the FTSE Russell are set to cut some 25 Chinese stocks in the coming weeks, in line with the expansion of US President Joe Biden’s blacklist.
- The S&P Dow Jones indices are set to remove 25 Chinese companies starting August 2, including Zhonghang Electronic Measuring Instruments Co. Ltd., and North Navigation Control Technology Co Ltd.
- The FTSE Russell will delete 20 firms from the FTSE GEIS and the FTSE Global China A Inclusion on July 28, including China Shipbuilding Industry, CSSC Offshore & Marine Engineering (Group), and Inner Mongolia First Machinery Group.
- The S&P Dow Jones indices and the FTSE Russell will also remove Aerospace CH UAV, Avic Aviation High-Technology, and Avic Heavy Machinery.
- FTSE Russell said the decision came on the feedback from index users and stakeholders, following the expansion of Biden’s blacklist of Chinese firms linked to its military.
The indices have already previously removed several Chinese companies but noted that several firms are eligible to be taken back in accordance with Biden’s latest order.
300114 is up 3.79%, 600435 is up 0.13%, 601989 is down 0.73%, 600685 is up 0.24%, 600967 is up 0.50%, 002389 is up 4.97%, and 600862 is up 9.00%,.
Source: Reuters
