FTSE Russell Removes Three More Chinese Firms After Trump Order

FTSE Russell Removes Three More Chinese Firms After Trump Order

© Bloomberg. A Chinese national flag flies in Beijing, China, on Monday, March 2, 2015. China's annual meeting of the National People's Congress, which begins March 5 in Beijing, is expected to set government policies for the year on issues ranging from economic growth to military spending and pollution. Photographer: Tomohiro Ohsumi © Bloomberg. A Chinese national flag flies in Beijing, China, on Monday, March 2, 2015. China's annual meeting of the National People's Congress, which begins March 5 in Beijing, is expected to set government policies for the year on issues ranging from economic growth to military spending and pollution. Photographer: Tomohiro Ohsumi

(Bloomberg) — FTSE Russell is set to pull another three Chinese firms from its indexes to comply with a U.S. order sanctioning companies with military ties following the removal of eight stocks last month.

The companies are Semiconductor Manufacturing International Corp., China United Network Communications Ltd. and Nanjing Panda Electronics Co., according to a statement dated Monday. They will be deleted from the FTSE Global Equity and China A Inclusion gauges effective Thursday.

The move comes as index providers and stock exchanges in New York and London rush to comply with an order by U.S. President Donald Trump in November barring American investments in Chinese firms owned or controlled by the military.

Last week, the New York Stock Exchange said it would remove three Chinese state-owned telecoms, while MSCI Inc. deleted 11 Chinese stocks from its global indexes effective Tuesday. S&P Dow Jones also listed 10 companies in December deemed ineligible from its equity measures, including SMIC.

FTSE’s fresh deletions follow guidance published by the U.S. Office of Foreign Assets Control late last year. FTSE added in its statement that any additional names published by the U.S. as being subject to sanctions will be evaluated after Jan. 11.

©2021 Bloomberg L.P.

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