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Cnooc Shares Fall as Removal From MSCI Indexes Looms

   By Martin Mou 
 

Cnooc Ltd.'s shares fell sharply on Friday morning after index provider MSCI Inc. said it will delete the Chinese oil major from some indexes to comply with a Trump administration blacklist.

MSCI said before the market opened in Hong Kong that it will remove Cnooc from the MSCI ACWI and MSCI China All Shares Indexes, which will take effect at the close of business on Jan. 26.

The Trump Administration had earlier added Cnooc to a list of banned investments.

Cnooc shares fell 4.0% to HK$7.93.

 

Write to Martin Mou at martin.mou@wsj.com

 

(END) Dow Jones Newswires

January 21, 2021 22:16 ET (03:16 GMT)

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