Texas governor orders state agencies to sell China assets

Published On Nov 22, 2024, 3:44 AM

Texas Governor Greg Abbott has directed state agencies to cease investments in China and to divest from any current assets in the country, citing rising financial and security risks linked to China's actions. This move highlights the increasing tension between the U.S. and China, which is affecting global investment strategies. Major Texas investment funds, like the Teacher Retirement System, have substantial exposure to Chinese assets, including significant holdings in Tencent Holdings and others.

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As the move emphasizes broader geopolitical tensions, it may lead to a general shift in investment away from Chinese markets, benefiting domestic U.S. companies or ETFs that focus on American or allied markets, potentially increasing their attractiveness.

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