Market News
South African rand stabilises after DeepSeek selloff - REUTERS
JOHANNESBURG, Jan 28 (Reuters) - The South African rand stabilised on Tuesday, a day after plunging in a sharp global selloff linked to advances by Chinese artificial intelligence (AI) startup DeepSeek.
At 0936 GMT, the rand traded at 18.7150 against the dollar , little changed on its previous close after losing roughly 1.7% on Monday.
DeepSeek's advances have made investors question lofty valuations for major U.S. technology and AI companies and drove steep falls in global equities on Monday which turned into a widespread flight to safety.