Core Insights - The report from Citigroup highlights that renewed trade tensions between China and the U.S. may lead investors to shift their focus from export-oriented stocks to domestic concept stocks and non-export-oriented companies [1][3] - Despite the trade tensions, companies like Apple and those in the AI supply chain may remain unaffected due to their overseas production capabilities [1][3] - The report suggests that the pullback in the AI supply chain could present buying opportunities, supported by several positive catalysts in the future [1][3] Industry Impact - The renewed trade restrictions are likely to prompt a reevaluation of investment strategies, with a potential increase in interest towards localized businesses [1][3] - Companies mentioned as part of the AI supply chain that could benefit from this situation include ASMPT, Omnivision, Sanan Optoelectronics, Chang, Kingdee International, Q Tech, and Xiaomi [1][3]

Core Viewpoint - The recent escalation of trade tensions between China and the U.S. has led to significant new trade restrictions, prompting investors to shift their focus towards domestic-oriented stocks, particularly in the semiconductor and software sectors, while export-oriented companies may face increased scrutiny [1] Group 1: Trade Tensions - The trade tensions between China and the U.S. unexpectedly reignited last week with both sides announcing major new trade restrictions [1] - The renewed trade conflict may lead investors to adopt a risk-averse approach, favoring local concept stocks over export-oriented companies [1] Group 2: Investment Opportunities - Despite the trade tensions, companies in the AI supply chain, such as Apple, may remain unaffected due to their overseas production capabilities [1] - The report suggests that the pullback in AI supply chain stocks could present buying opportunities, given the numerous positive catalysts ahead [1] - Notable concept stocks mentioned include ASMPT, Omnivision, Sanan Optoelectronics, JCET, Kingdee International, Q Tech, and Xiaomi [1]