So much for the quiet pre-holiday trading session as Asian equities were mixed though Australia was closed for Australia Day, Indonesia was closed for Al Isra’ wal-Mi’raj, South Korea was closed for the Korean New Year,

In recent days, China’s AI startup, DeepSeek, has made waves after launching a generative AI chatbot that reportedly rivals the capabilities of leading US companies, but for a fraction of the investment.

U.S. stocks recovered some ground on Tuesday after getting hammered by fears over China's DeepSeek AI model built on a shoestring budget.