Global index editor FTSE Russell will fall Xiaomi and another global and Chinese high-tech index company said Friday, and included the inclusion of a semiconductor company, in line with a U.S. executive order from former President Donald Trump.
The changes come after the Trump administration in January placed Xiaomi and eight other companies on a blacklist of companies with alleged links to the Chinese military, which banned U.S. investors from holding their shares.
Xiaomi Corp. should be removed from the Global All Cap and FTSE Global China A Inclusion indices, along with Luokung Technology Corp.’s N shares come from the FTSE Global Total Cap and Micro Cap indices, said the index editor.
The changes will take effect on March 12, FTSE Russell said in a statement, citing the order. He added that the deletions were subject to new guidelines from the U.S. Foreign Assets Control Office.
The proposal to add advanced microfabrication equipment to global and Chinese indices “would not proceed 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 link to the Chinese military. Later that month, the smartphone maker filed a lawsuit against the U.S. government in response.