0509 GMT - DeepSeek provides an opportunity for investors to take profit on semiconductor stocks in Asia, Morningstar equity analyst Phelix Lee says in a note. There is overall bullish sentiment on China's self-sufficiency push, and DeepSeek's latest AI model has shown that it is possible for companies to use less powerful chips to create just as powerful AI models, Lee says. That in turn reduces the urgency for companies like SMIC and Hua Hong to produce advanced AI chips, Lee says. This could translate into less government subsidies to support the business, Lee says. Additional selling pressure on SMIC in Hong Kong came as markets in Taiwan and China are closed for the Lunar New Year holiday, Lee adds. SMIC fell as much as 5.6% before ending 0.4% lower, adding to Monday's 7.6% decline. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
January 28, 2025 00:09 ET (05:09 GMT)
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