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EMERGING MARKETS: Global News: January 27

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • CHINA (BBG) – Chinese startup DeepSeek’s eponymous AI assistant rocketed to the top of Apple's iPhone download charts, stirring doubts in Silicon Valley about the strength of America’s lead in AI. Chinese tech firms linked to DeepSeek, such as Iflytek, surged on Monday, while chipmaking tool makers from Netherlands’ ASML Holding to Japan’s Advantest slumped on the potential threat to demand for Nvidia AI accelerators.
  • US (WSJ) – Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.
  • CHINA (MNI) – China’s January manufacturing PMI disappointed, slipping to 49.1 from 50.1 in December. January’s non-manufacturing PMI also came in below expectations, slipping to 50.2 from 52.2 in December. Industrial profits' 3.3% drop in December signifies the third year for deflation for Chinese corporates and likely will feed into the bond rally in the near term.
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  • CHINA (BBG) – Chinese startup DeepSeek’s eponymous AI assistant rocketed to the top of Apple's iPhone download charts, stirring doubts in Silicon Valley about the strength of America’s lead in AI. Chinese tech firms linked to DeepSeek, such as Iflytek, surged on Monday, while chipmaking tool makers from Netherlands’ ASML Holding to Japan’s Advantest slumped on the potential threat to demand for Nvidia AI accelerators.
  • US (WSJ) – Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.
  • CHINA (MNI) – China’s January manufacturing PMI disappointed, slipping to 49.1 from 50.1 in December. January’s non-manufacturing PMI also came in below expectations, slipping to 50.2 from 52.2 in December. Industrial profits' 3.3% drop in December signifies the third year for deflation for Chinese corporates and likely will feed into the bond rally in the near term.