Global stocks mixed after China's Deepseek sends shockwaves through tech sector
Global stocks mixed after China's Deepseek sends shockwaves through tech sector
Share:
Global shares have presented a mixed picture in the relatively quiet trading on Tuesday, with Wall Street's tech giants taking a hit as rivalling AI hype from China cast doubts over the recent artificial-intelligence market frenzy. France's CAC 40 dipped slightly by 0.2% in early trades to reach 7,894.05, whereas Germany's DAX nudged up by 0.3% hitting 6,047.75. The FTSE 100 enjoyed a modest rise of 0.2%, elevating to 8,522.94. Stateside, investors are bracing for varied openings with Dow futures dropping 0.2% to 44,803.00, and S&P 500 futures hovering barely above water at 6,047.75.
Japan's key benchmark, the Nikkei 225, shed 1.4% closing at 39,016.87, while Australia's S&P/ASX 200 saw little movement, edging down just 0.1% to 8,399.10. Hong Kong's Hang Seng, however, managed to climb by 0.1% to 20,225.11. Meanwhile, celebrations meant that markets in South Korea, Shanghai, and other parts of Asia remained shut. The technology sector in Japan faced some notable movements, with SoftBank Group Corp. plunging another 5%. Hitachi Ltd. took a significant blow, losing 6%, although Fujitsu and Sony Corp. managed to regain lost ground.
Semiconductor heavyweight Tokyo Electron took a dive of 5.7%. Fuji Media Holdings, saw its shares lift by 3%. The financial markets were taken aback by news from China, where an AI firm named DeepSeek revealed a large language model that could rival US behemoths but potentially at a fraction of the price.
