FTSE Russell to Delete Chinese Xiaomi from Indexes

Global index publisher FTSE Russell said on Friday it will delete Xiaomi Corp from its global and China indexes in line with a U.S. executive order from then-president Donald Trump.

The removal of the Hong Kong-listed stock from FTSE’s Global All Cap index and the FTSE Global China A Inclusion indexes will be effective on March 12, subject to further guidance from the U.S. Office of Foreign Assets Control, it said in a statement, Reuters reports.

The changes come after the Trump administration in January placed Xiaomi and eight other companies on a blacklist of firms with alleged ties to Chinese military, barring U.S. investors from holding their shares.

At the time of the blacklisting, Xiaomi denied any ties to the Chinese military.

Later that month, the smartphone maker filed a lawsuit against the U.S. government in response, Reuters adds.

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