Asian shares Friday were mixed, with Chinese technology stocks rising as most other Asian equities declined. Japan’s benchmark Nikkei 225 dipped nearly 0.44% in early trading to 38,893.65. Australia’s S&P/ASX 200 slid just 0.

The rest of the stock market could finally catch up to the Magnificent Seven this year—and it has nothing to do with DeepSeek. The gap in earnings growth between the Magnificent Seven and the rest of the benchmark index should compress from roughly 8 percent to less than 5 percent by the end of 2025,

Robust gains by Chinese tech stocks have added billions of dollars in their market capitalization, driven by the sudden rise to fame by homegrown AI app DeepSeek.

A frenzy over an artificial intelligence chatbot made by Chinese tech startup DeepSeek upended stock markets Monday, fueling debates over the economic and geopolitical competition between the U.S. and China in developing AI technology.

The Hang Seng Tech Index gained 2.5% on Friday, with a total increase of more than 20% since January. It appears that DeepSeek’s hype has erased concerns of trade wars among Chinese investors, due to which China’s tech stocks in Hong Kong continue to surge.