January 31, 2025 05:36 GMT
SOUTH KOREA: Country Wrap : Deepseek Impact Felt on Korea Re-Open.
SOUTH KOREA
- Shares of SK Hynix Inc., a key supplier to Nvidia Corp., tumbled more than 11% in post-holiday catchup trading after Chinese startup DeepSeek shocked the AI world. (source: BBG).
- South Korean power equipment makers for AI data centers drop on DeepSeek worry as stock markets reopen after Lunar New Year holiday. (source: BBG).
- Having been closed this week, the KOSPI opened today and had to adjust to the Deepseek news and fell -1.15%.
- KRW: like its regional peers, the Won had a tough day tumbling -.862% to 1,455.10
- Bonds: a strong rally led by the front end points to the bond market starting to think that a cut in rates is coming. KTB 2YR at 2.648% is 6bps lower today.
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