China's top chipmakers to see small impact from Trump's 100% tariff on imports: CLSA
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.
Advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
5 hours ago
- South China Morning Post
Trump's overhaul of State Department may play into Beijing's hands for decades
During nearly three decades as a US diplomat in China, Southeast Asia and Africa, Matt Ingeneri watched his Chinese counterparts dispense prestigious scholarships, hold lavish banquets and conduct expensive national day celebrations. 'They are very good hosts and can be really charming when they want to be,' Ingeneri, now in the private sector, said, adding that the US State Department budgets were far smaller and corruption concerns greater. 'We had a hot dog on a Ritz cracker.' But Chinese officials also mixed their soft power with unbending deportment when espousing Beijing's red lines, he added. 'It's all fun and games – until you want to keep your claim to the South China Sea.' The US effort to counter China's growing global footprint is difficult enough. President Donald Trump's radical State Department overhaul is not making it any easier and could play into Beijing's hands for decades, according to lawmakers and past and current department officials. 'Our competition with China requires all hands on deck. It's global in nature. It affects virtually every issue, every topic that crosses borders,' said Mark Lambert, a 35-year State Department veteran and former head of its China House overseeing Beijing-focused diplomacy. 'We just gutted [development programmes] ourselves, a huge win for China.'
RTHK
6 hours ago
- RTHK
Sesko completes Man United's forward line-up
Sesko completes Man United's forward line-up Benjamin Sesko applauds fans before Saturday's match. Photo: Reuters Manchester United signed Slovenian international Benjamin Sesko on Saturday, making him the third forward the 20-time English champions have acquired in the close season. The 22-year-old's arrival from RB Leipzig, in a deal reported to be worth up to £74 million (US$99 million), completes an overhaul of the Red Devils' attack that failed to fire last season. Only four other teams scored fewer than United's 44 goals in 38 Premier League games last season as the English giants endured their worst campaign for 51 years, finishing 15th in the table. Sesko, who has scored 16 goals in 41 international appearances, is United's third major attacking signing following the recruitment of Matheus Cunha for £62.5m from Wolves and Bryan Mbeumo, who joined from Brentford for £65m with £6m in add-ons. "Manchester United is pleased to confirm that Benjamin Sesko has joined the club, subject to registration," read a club statement. The five-year contract includes a guaranteed payment of £66.3million, with the remainder in add-ons, according to reports. "The history of Manchester United is obviously very special but what really excites me is the future," said Sesko. "When we discussed the project, it was clear that everything is in place for this team to continue to grow and compete for the biggest trophies again soon." Sesko had also been linked with Newcastle, but once again Eddie Howe's League Cup winners failed to land their target despite being able to offer European football this season, unlike Manchester United. Howe had seen Sesko as a ready-made replacement for unhappy Swedish striker Alexander Isak, who has been a target for champions Liverpool. Sesko, though, said he felt a vibrancy at United as they seek to rebound from a desperately disappointing 2024-2025 campaign under 40-year-old Portuguese manager Ruben Amorim. "From the moment that I arrived, I could feel the positive energy and family environment that the club has created," he said. "It is clearly the perfect place to reach my maximum level and fulfil all of my ambitions. "I cannot wait to start learning from Ruben and connecting with my team-mates to achieve the success that we all know we are capable of together." Sesko had also previously been linked with Arsenal after impressing during his two-year spell in Germany, where he scored 39 times in 87 appearances for Leipzig, including 21 goals last season. Standing 1.95 metres tall, Sesko's towering physique, electric pace and eye for goal have earned comparisons with Manchester City's Erling Haaland. Like Haaland, he also made his name at RB Salzburg before moving to Germany in 2023. United are banking on Sesko realising his abundant potential to fire them back into contention at the top of the Premier League table. Between them, Sesko, Cunha and Mbeumo combined for 58 goals last season. The massive outlay on their arrivals needs to bear fruit quickly with United under pressure to meet financial sustainability rules, especially without the revenue of European football this season. Sesko's arrival is likely to presage the departure of Rasmus Hojlund, whose plight might provide a salutary tale for the Slovenian. The 23-year-old Danish forward arrived with similarly high hopes but has failed to deliver and is reportedly subject to interest from Serie A side AC Milan. Sesko though has convinced United's director of football Jason Wilcox that he has the attributes to help propel United back into title contention. "Benjamin possesses a rare combination of electrifying pace and the ability to physically dominate defenders, making him one of the most exceptional young talents in world football," said Wilcox. "We have followed Benjamin's career closely; all of our data analysis and research concluded that he has the required qualities and personality to thrive at Manchester United." (AFP)
South China Morning Post
6 hours ago
- South China Morning Post
Hong Kong eases seafood, fruit and electric car rules to tackle US tariff war
Fresh seafood and fruits arriving by air in Hong Kong for re-export can now be transferred directly to mainland China for clearance as one of several new measures to help the city remain competitive in a tariff-laden global trade environment, the customs chief has said. Advertisement Commissioner of Customs and Excise Chan Tsz-tat also told the Post in an exclusive interview that mainland-made electric vehicles (EVs) exported to Hong Kong could now be stored for free at Nansha port in Guangzhou, with the local licence application process beginning during storage to shorten approval times from two weeks to three days. The measures were among the Customs and Excise Department's efforts to further remove trade barriers, Chan said. Hong Kong has been caught in the trade war crossfire between Washington and Beijing, with US President Donald Trump imposing 'reciprocal tariffs' on countries around the world since taking office in January this year. 'In our import and export controls, we endeavour to provide the most fair, just, transparent and predictable regulatory environment,' Chan said. Advertisement From this month, fresh seafood and fruit products arriving by air in Hong Kong for re-export to the mainland could undergo customs clearance checks and quarantine directly in Zhuhai, Guangdong province, rather than in the city, Chan said.
