The dollar advanced after US President Donald Trump said he wanted “much bigger” universal tariffs. Most Asian shares fell as concern over high valuations in the artificial-intelligence sector stretched into a second day.

Most Asian shares dropped following a bruising session on Wall Street caused by fears the valuation of artificial-intelligence companies had become excessive.

Hong Kong’s benchmark Hang Seng Index was up 1.2%, led by insurance stocks. Markets were likely digesting new measures announced by the China Securities Regulatory Commission to boost investments in the A-share market.

HONG KONG, Jan 28, 2025 (BSS/AFP) - Japanese tech firms sank Tuesday after a sell-off in US titans following news of China's DeepSeek chatbot, while the dollar rallied on a report saying Washington was considering universal tariffs on a range of goods.

The firm said only $5.6 million was spent developing the model. The programme's arrival has sparked competition fears, as tech titans -- including Nvidia, Meta and Alphabet -- have made huge investments worth hundreds of billions of dollars into AI products and sent their valuations soaring.

Concerns over the emergence of a low-cost Chinese generative AI model DeepSeek fuelled selling in tech stocks globally.

Asian stocks were mixed on Wednesday after U.S. President Donald Trump's latest comments on tariffs raised uncertainty in Chinese markets. U.S. futures edged higher and oil

SoftBank Group’s shares rose more than 9% after Trump named the company as a participant in the ‘Stargate’ AI joint venture.

Global stocks are mixed as Trump's tariff comments stir uncertainty, impacting Asian markets. European stocks edge higher, buoyed by AI investment news, while U.S. markets show cautious optimism.

ASX 200 hits a record high on rate cut speculation, while US stocks retreat after Powell dims rate cut hopes. Nikkei edges up amid AI export concerns.

The recovery came after US chipmaker Nvidia closed up 9 per cent on Tuesday, recouping some of the heavy losses that wiped $600bn off its market capitalisation at the start of the week, when investors fretted over the threat from China’s DeepSeek to the US supremacy in artificial intelligence.

Shares for leading US chip firm Nvidia dropped by almost 17% on Monday after the emergence of DeepSeek stunned Silicon Valley.