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According to a research note published by CLSA, the potential impact of the proposed US tariffs on imported chips – the details of which are expected as soon as next week – would be small for SMIC and Hua Hong Semiconductor.
The two Shanghai-based firms could also benefit from possible countermeasures that China and other countries could pursue, according to CLSA, without elaborating.
SMIC’s Hong Kong-listed shares closed up nearly 1 per cent on Thursday to HK$53, while Hua Hong’s stock rose 2.52 per cent to HK$44.78.
On Wednesday in Washington, Trump announced that the US would impose a 100 per cent tariff on imported semiconductors, although companies that were manufacturing in the country or had pledged to invest in new factories would be exempt.
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CLSA’s assessment reflected how China managed to increase the share of its integrated circuit (IC) exports, including memory chips, to countries in Southeast Asia, customs data showed.
