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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.