China says U.S. behavior towards telcos shortsighted

(Reuters) China’s foreign ministry on Friday said the United States’ behavior towards three of its telecoms companies is shortsighted, after global index providers cut the telcos from benchmark indices.

The behavior will undermine U.S. interests, foreign ministry spokeswoman Hua Chunying said at a regular briefing.

Global index providers MSCI Inc and FTSE Russell said they would cut three Chinese telecom companies from their benchmarks in response to a U.S. investment ban, crushing the share prices and widening the fallout from U.S. sanctions.

Source: Reuters; Reporting by Cate Cadell; Writing by Beijing Newsroom; Editing by Christopher Cushing