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8/1/2023, 11:56 AM (Source: TeleTrader)
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Congress probes MSCI, BlackRock over China investments

BlackRock Inc. and MSCI Inc. are under investigation by the United States House Select Committee on the Chinese Communist Party, the Wall Street Journal reported on Tuesday. The two companies are under suspicion of facilitating investments by Chinese firms accused of boosting China’s military and violating human rights, the report said, citing letters sent by the committee.

The letters accuse BlackRock and MSCI of "exacerbating an already significant national security threat and undermining American values" by investing in Chinese assets. MSCI told the WSJ it is reviewing the details of the investigation, while BlackRock said it is working with the panel to "better understand its concerns."

Baha Breaking News (BBN) / DJ