FTSE Russell is set to axe eight Chinese companies from global indices following US President Donald Trump’s decision to ban US investors from investing in their shares.

The companies will be removed from the FTSE Global Equity Index series and the FTSE China A Inclusion index on 21 December following a consultation with index users and stakeholders.

The eight companies are China Communications Construction, China Spacesat, China Nuclear Engineering & Construction Corporation, Hangzhou Hikvision Digital Technology, CRRC Corp, Dawning Information Industry, China National Chemical Engineering Group and China Railway Construction Corporation.

Sanctioned companies will only be considered for re-inclusion in the firm’s indices 12 months after the sanctions are removed.

A spokesperson from Hikvision told Reuters: “Hikvision has tried to fully cooperate with the U.S. government and transparently answer policymakers’ questions.

“We have tried to correct misunderstandings about the company and our business. We will continue to try to do so.”

Donald Trump’s executive order, which was issued on 12 November, bans US investors from buying a number of Chinese companies that the White House said “enable the development and modernisation” of China’s military and “directly threaten” US national security.

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In reaction to the order, MSCI launched a consultation with clients last month on how best to navigate the ban.

In the announcement, MSCI said: “MSCI seeks feedback from market participants on the impact of the order on their investment processes, including any practical implications on the use of MSCI indices and whether any changes to existing indices or the introduction of new indices may be necessary or helpful to maintain the investability of relevant MSCI indices and assist investors to comply with the order.”