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- FTSE Russell could delete more Chinese firms after U.S. bolsters executive order
FTSE Russell could delete more Chinese firms after U.S. bolsters executive order
Reuters reports that global index publisher FTSE Russell said it may delete more Chinese companies from its global benchmarks, after the Trump administration on Monday strengthened an executive order barring U.S. investment in firms with alleged Chinese military backing.
The U.S. Treasury Department on Monday published guidance clarifying that the executive order, released in November, would apply to investors in exchange-traded funds and index funds as well as subsidiaries of Chinese companies designated as owned or controlled by the Chinese military.
FTSE Russell, which has announced the exclusion of nine Chinese companies from its global indexes in response to the executive order, said in a statement late on Monday that it is reviewing the U.S. clarification and will make evaluation for “potential additional exclusions”.
FTSE Russell reiterated it will publish an announcement on Jan. 4, 2021, with any additional deletions being effective from Jan. 7.
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