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Markets

BlackRock and Goldman rush to comply with Trump blacklist in Hong Kong

Holdings in Chinese securities reviewed by US investment banks and funds

BlackRock will reevaluate the exchange-traded funds that track the benchmark Hang Seng Index, which includes companies on the U.S. no-investment list such as China Mobile, China Unicom Hong Kong and CNOOC.   © Reuters

HONG KONG -- From BlackRock to Goldman Sachs, U.S. financial institutions are revising their portfolios in Hong Kong as a ban on investments into military-linked Chinese companies took effect Monday.

BlackRock and State Street said they will reevaluate the exchange-traded funds that track the benchmark Hang Seng Index, which includes companies on the U.S. no-investment list such as China Mobile, China Unicom Hong Kong and CNOOC.

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