POLITICO Morning Money: Rubio Presses Index Providers on China Stocks
JUST IN: RUBIO PRESSES INDEX PROVIDER ON CHINA STOCKS — Sen. Marco Rubio (R-Fla.) has sent a letter to MSCI, Inc. requesting information regarding their decisions to include Chinese companies like Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. in its indexes. MSCI indexes are referenced by exchange traded products that are listed on U.S. exchanges.
Reaction: “Senator Rubio is standing up for American investors by raising very important questions about the inclusion of some Chinese companies in stock indexes,” American Securities Association CEO Chris Iacovella said in a statement. “It is outrageous that long-term passive investment dollars are being funneled out of the U.S. and into opaque companies that avoid routine financial audits.”
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