News: FTSE Russell to drop Xiaomi, Luokung from indexes on U.S. order; scraps AMEC inclusion.
SHANGHAI (Reuters) – Global index publisher FTSE Russell becomes Xiaomi and another high-Tech- Remove companies from global and Chinese indices, it said on Friday, and scrap the inclusion of a semiconductor company under a US executive order of former President Donald Trump.
The changes came after the Trump administration blacklisted Xiaomi and eight other companies in January of alleged links to the Chinese military that prevented US investors from holding their shares.
Xiaomi Corp is to be deleted from the Global All Cap and FTSE Global China A Inclusion indices together with Luokung Technology Corp’s N-shares from the FTSE Global Total Cap and Micro Cap indices, according to the index publisher.
The changes will take effect March 12, FTSE Russell said in a statement, citing the order. It added that the deletions are subject to further instructions from the U.S. Bureau of Foreign Property Control.
Proposed inclusion of advanced micro-fabrication equipment in global and Chinese indices would “not go as previously announced,” the company said.
Xiaomi did not immediately respond to a request for comment.
At the time of the blacklist, Xiaomi denied any connection with the Chinese military. Later that month, the smartphone maker filed a lawsuit against the US government.
Reporting by Samuel Shen, Andrew Galbraith, and Josh Horwitz; Arrangement by Toby Chopra and Clarence Fernandez
Original Source © Reuters