SMIC (00981.HK) opened 6.67% higher today at HKD64.75, with pre-market trading volume of 3.6921 million shares, amounting to HKD239 million.

HUA HONG SEMI (01347.HK) opened 5.02% higher today at HKD56.5, with pre-market trading volume of 1.205 million shares, amounting to HKD68.0723 million.

Citi, in its report, cited news by The Wall Street Journal on August 29, that Alibaba took a pivotal step in its semiconductor strategy by developing a new AI chip to address the market gap following Nvidia's (NVDA.US) restricted shipments to China.

Previously, Alibaba had collaborated with TSMC (TSM.US) to produce AI chips, but in wake of US government restrictions, chip manufacturing shifted back to China. It was speculated that the chip is being manufactured and tested by SMIC.
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AASTOCKS Financial News
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SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
SMIC (C)	19953	66.93 (-)	0.129	4.3 X
SMIC (C)	13716	64.05 (-)	0.109	5.2 X
SMIC (C)	19182	60.05 (-)	0.219	3.3 X
SMIC (P)	19794	49.79 (-)	0.136	2.2 X
SMIC (P)	18775	42.45 (-)	0.065	2.9 X
SMIC (P)	14215	42.13 (-)	0.024	5.3 X
SMIC (Bull)	54173	56.2 (56.8)	0.046	13.0 X
SMIC (Bull)	68985	54.2 (54.8)	0.066	9.1 X
SMIC (Bear)	58427	70.6 (70)	0.095	6.3 X
SMIC (Bear)	62188	68.1 (67.5)	0.073	8.2 X
HUAHO (C)	19701	67.04 (-)	0.161	2.8 X
HUAHO (Bull)	61470	37.2 (39)	0.120	4.0 X
HUAHO (Bull)	60841	34.7 (36.5)	0.148	3.3 X
ALIBA (C)	14651	172.98 (-)	0.049	6.7 X
ALIBA (C)	19436	145.1 (-)	0.166	6.8 X
ALIBA (C)	19223	140.1 (-)	0.214	6.1 X
ALIBA (P)	14223	117.58 (-)	0.042	7.2 X
ALIBA (P)	19795	108.58 (-)	0.086	5.6 X
ALIBA (Bull)	63209	113.3 (114.8)	0.223	6.0 X
ALIBA (Bull)	59515	111.3 (112.8)	0.241	5.6 X
ALIBA (Bear)	56252	150 (148.5)	0.029	9.2 X
ALIBA (Bear)	67160	145.2 (143.7)	0.020	13.4 X
Nvidia (C)	10721	175 (-)	0.295	4.9 X
Nvidia (P)	10714	125 (-)	0.071	4.9 X