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.

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.

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.

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.