Emerging Markets Index MSCI Drops ZTE, Four Other Chinese Companies

Chinese telecom equipment and smartphone maker ZTE, and four other Chinese companies have been dropped from several MSCI indexes, including the MSCI China A Inclusion Index.

Trading in the China-listed A shares of all five companies has been suspended.

MSCI, the U.S. index publisher, made the announcement on its website.

According to the announcement, the other four companies are: Beijing Orient Landscape & Environment Co., China Hainan Rubber Industry Group Co., the state-owned China Railway Group, and Shanxi Taigang Stainless Steel Co., also state-owned.

ZTE has recently been caught in the crossfire of China-U.S. trade disputes and trading in its shares has been halted for two weeks.