S&P Dow Jones says Xiaomi eligible for index inclusion after investment ban win
Reuters
Published Mar 22, 2021 06:41PM ET
(Reuters) - Chinese smartphone maker Xiaomi (OTC:XIACF) Corp was eligible to be included on indices again, S&P Dow Jones Indices said on Monday, after a federal judge suspended a U.S. investment ban in the company on the grounds it has ties to China's military.
The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other companies to a list that requires Americans to sell their interests in the firms by a deadline.
S&P DJI said earlier this month it would remove certain securities included in the list but U.S. District Judge Rudolph Contreras suspended the blacklisting for Beijing-based Xiaomi, citing the U.S. government's "deeply flawed" process for including it in the ban.
Indices that removed Xiaomi will review its securities for eligibility at their next scheduled rebalancing, S&P DJI said https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20210322-1342959/1342959_spdowjonesindicesannouncementforluokungtechnologyandxiaomicorp22mar2021.pdf on Monday.
The index provider added it would not consider mapping technology company Luokung Technology Corp, which is also suing its inclusion in the list, for addition to indices prior to May 8.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.