ZTE Corp. was removed from several MSCI indexes, including the MSCI China A Inclusion Index, U.S. index publisher MSCI Inc. said May 30, according to a Reuters report.
The telecommunications equipment maker was among five companies dropped from the MSCI indexes after trading in their China-listed A shares was suspended.
The other four companies were Beijing Orient Landscape and Environment Co. Ltd., China Hainan Rubber Industry Group Co. Ltd., China Railway Group Ltd. and Shanxi Taigang Stainless Steel Co. Ltd, according to Reuters.
MSCI's move came as the U.S. and China continue negotiations over seven-year export restrictions imposed on the telecommunications equipment maker. The U.S. government recently agreed, as U.S. President Donald Trump noted in a tweet, to lift the ban if ZTE pays a $1.3 billion fine and agrees to management and board changes, along with other penalties.
