1251 GMT - The cost of insuring China's sovereign debt against default using credit default swaps falls to a two-year low, boosted by news about AI advancements from Chinese companies. Stocks of Chinese electric vehicle manufacturer BYD have rallied following news that it plans to integrate software from AI company DeepSeek in its cars, Swissquote Bank's Ipek Ozkardeskaya says in a note. "Chinese tech stocks are surfing on the DeepSeek wave," she says. China's five-year credit default swaps fall 4 basis points to 49bps, a low last reached in January 2023, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 07:51 ET (12:51 GMT)
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