INVESTORS “FEEL JOLT”
Taipei dropped more than 3 % on the first day of trading since China’s DeepSeek unveiled a less expensive artificial intelligence platform to compete with US tech giants, including device titan and market-heavyweight TSMC.
Buyers may also experience the jitter as businesses adjust to a decision that is almost universally thought to be a threat to global development and financial stability, according to Stephen Innes at SPI Asset Management.
The dollar increased by 2.3 % against the Mexican peso and by more than 1 % against the Canadian peso on currency markets.
Additionally, it was significantly higher in value in relation to the South Korean won, the American dollar, and the South African dollars.
According to Michael Wan at MUFG,” We believe the path of least resistance is currently for Eastern currencies and risk assets to weaken, along with a higher risk premia to account for future substantial tariff moves beyond what we have seen.”
Gold slipped, having hit a new report above US$ 2, 800 next year, as the stronger money made it more expensive to buy the metal for holders of different currencies.
Following the release of DeepSeek’s R1 robot, which saw some owners re-evaluate their investment in software companies in recent years as they bet big on the Artificial trend, Trump’s most recent volley came at the end of a turbulent year for areas.
Additionally, it surpassed Apple’s strong earnings results, which lessened some concerns about the technology sector, and data showing that the chosen inflation gauge, according to the Federal Reserve, exceeded expectations.
Trump’s tariffs on Canada and Mexico caused a rise in oil prices, while Bitcoin experienced a decline of more than 5 %.
KEY FIGURES AROUND 0700 GMT
Tokyo- Nikkei 225: DOWN 2.7 per cent at 38, 520.09 ( close )
Hong Kong- Hang Seng Index: Over 0.4 per share at 20, 142.64
Shanghai- Composite: Closed for a holiday
Euro/dollar: DOWN at$ 1.0251 from$ 1.0363 on Friday
Pound/dollar: DOWN at$ 1.2290 from$ 1.2392
Dollar/yen: UP at 155.39 yen from 155.18 japanese
Euro/pound: Off at 83.38 pounds from 83.59 pounds
West Texas Intermediate: UP 1.9 per cent at$ 73.92 per barrel
Brent North Sea Crude: UP 1.0 per cent at$ 76.43 per barrel
New York- Dow: DOWN 0.8 per cent at 44, 544.66 ( close )
London- FTSE 100: UP 0.3 per cent at 8, 673.96 ( close )