1.

China plays catch-up: Chinese startup DeepSeek has sparked a wave of renewed optimism for domestic technology stocks. China’s progress toward technological self-reliance comes even as the country is denied access to advanced chips. Share prices of Chinese internet companies reacted positively to announcements of developments in artificial intelligence (AI). This refreshed attention also came as China’s president held a meeting with large domestic technology companies. This seems to mark a turnaround from the regulatory crackdown on technology companies four years ago.

2.

Slowing growth in Latin America: The central banks of Brazil and Mexico cut their economic growth forecasts for 2025. Inflationary environments were also similar for both economies, with annual inflation rates slowing in January from the previous month. Mexico’s central bank also reduced its benchmark interest rate. The United States confirmed that tariffs on Mexico will come into effect in early March, with the amount to be determined.

3.

A breather for Indian consumer stocks: Slowing consumption has weighed on Indian consumer stocks in recent months. Consumption stocks rallied after the Indian budget announcement, which was positive overall for shoring up urban consumption. This budget appears to make very few errors in the path to sustain India’s growth, which was slower than expected in recent quarters.

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