Jan 31 (V7N) - Asian Markets saw mixed results on Friday, January 31, 2025, as investors reacted to a volatile week, influenced by China's DeepSeek unveiling a groundbreaking AI chatbot and Donald Trump's tariff announcement.

China's DeepSeek made waves with its new AI technology, which reportedly matches the capabilities of U.S. AI leaders at a fraction of the investment costs, sparking concerns about the massive investments already made by American companies in the sector.

Nvidia was hit hard by the news, seeing its stock drop by 17% on Monday, as the market responded to the rising competition.

The recent results from tech giants like Microsoft and Meta also failed to excite investors, though Apple's $124.3 billion fourth-quarter profit provided some optimism.

Despite challenges in the tech sector, particularly in South Korea, where chipmakers like SK hynix and Samsung dropped, some regional markets showed gains, including Tokyo, Sydney, Singapore, Wellington, Manila, and Jakarta.

Gold prices approached a record high of $2,799.65, spurred by economic uncertainty and Trump’s tariff threats. Meanwhile, the dollar rose, and both the Mexican peso and Canadian dollar weakened in response to Trump’s tariff announcement, targeting Canada and Mexico for 25% tariffs.

Tokyo (Nikkei 225): +0.1% at 39,540.37

Euro/dollar: $1.0394, up from $1.0392

Pound/dollar: $1.2424, up from $1.2420

Dollar/yen: 154.00 yen, down from 154.38 yen

West Texas Intermediate: $73.01 per barrel, up 0.4%

Brent North Sea Crude: $77.14 per barrel, up 0.4%

New York (Dow): +0.4% at 44,882.13

London (FTSE 100): +1.0% at 8,646.88

In the meantime, China, Hong Kong, and Taipei were closedfor the Lunar New Year holiday.