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<Research>Jefferies: CN Tech Firms Added to CMC List; Trump Very Unlikely to Take Action
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The U.S. Department of Defense said on Monday (6th) that it had added Chinese technology giants, including TENCENT (00700.HK) and battery manufacturer CATL (300750.SZ), to its Chinese military company (CMC) list. Pursuant to official documents, the list also included chip manufacturer CXMT, QUECTEL WIRELESS (603236.SH) and drone manufacturer AUTEL TECHNOLOGY (688208.SH). Jefferies released a research report, covering about this. It said the CMC list will have no immediate sanction implications, but it can provide guidance for sanctions that other US government units are considering implementing. During Trump's previous term as president, state-owned enterprises on the CMC list faced delisting from the US and were affected by US investment bans. However, the broker expected that Trump is unlikely to take action during his current term. Jefferies explained that Trump's focus will no longer be on US investment bans, but rather on domestic issues, such as deregulation and downsizing of the federal government. As for his foreign policy, it will be based primarily on tariffs. Since the CMC list update will be completed by the Biden administration, it is also less likely that Trump will take action to support the decisions made by the Democratic Party. In addition, the incoming US Treasury Secretary, Scott Bessent, seems to be very market-oriented, so he may not strongly support the US investment ban. AAStocks Financial News |
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