HONG KONG (Reuters) – Leading mutual fund firm Vanguard Group sold its stakes in select Chinese stocks to comply with U.S. ban on Americans from investing in companies it believes have links to the Chinese military.
In a statement, Vanguard said she had exited her positions in stocks on a list published on November 12 by Friday.
Vanguard added that he was “continuing to monitor the situation to ensure continued enforcement of the executive order as further titles for sanction are identified.”
He did not provide further details.
Confusion over affected stocks prompted the New York Stock Exchange to take a turnaround last week when it said it would remove three Chinese telecom companies.
A few days earlier he had said he would keep them on the list, canceling the announcement of their cancellation a week earlier.
Other U.S. asset managers, including BlackRock, say they have abandoned Chinese stocks due to the ban, and index providers MSCI Inc, FTSE Russell and S&P Dow Jones Indices cut sanctioned companies from their benchmarks.
Alun John reporting; Editing by Clarence Fernandez