SMI back above 12,500 points for the first time since the beginning of 2022
Keystone-SDA
The Swiss stock market continued to benefit from its defensive stance on Tuesday. The leading SMI index rose by almost 1% at times in the morning and traded above 12,500 points for the first time since the beginning of 2022.
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At the start of the week, news about the Chinese AI start-up DeepSeek, which media reports say could compete with established companies in the AI sector, caused unrest and put technology stocks in particular under pressure worldwide.
The AI company Nvidia was particularly affected, plummeting by 17% on the New York Stock Exchange. The associated market capitalisation loss of $589 billion (CHF533 billion) was the highest in US stock market history.
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Low technology share helps
The Swiss stock exchange, with its low technology component, is one of the winners in this environment. Last year, it lagged behind the global trend for the same reason. Of the 18 trading days in the year to date, the SMI has now ended 16 with a positive sign.
As on the previous day, the fact that the SMI once again significantly outperformed its European counterparts on Tuesday morning was primarily due to the three heavyweights. Roche (+1.2%), Nestlé (+0.9%) and Novartis (+0.8%) contributed a large part of the current gains of just under 100 points, or around 0.8%, with their advances at 11.15am. Other representatives of the healthcare sector are also posting above-average gains.
Translated from German by DeepL/ts
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