FTSE China A50 index futures opened 0.32% lower.

The 18th session of the Standing Committee of the 14th CPPCC National Committee opened in Beijing; Wang Huning attended. Vice Premier He Lifeng, in a report, called for implementing the 4th Plenum of the 20th CPC Central Committee and the 15th Five‑Year Plan and set priorities: promote high‑quality, full employment; improve income distribution; strengthen the social security system; guide the real estate sector toward high‑quality development; and steadily advance equalization of basic public services to ensure delivery of key livelihood measures.

美银图表显示，AI十大权重股已占美国股市总市值约40%，接近1972年“漂亮50”的40%和2000年科技股泡沫时期的41%，但仍低于19世纪铁路股的63%。 高集中度无法单独证明泡沫即将破裂，却意味着指数涨跌、被动资金表现和市场情绪越来越依赖少数公司。AI产业需求和盈利可以继续增长，但只要业绩增速、资本开支回报或估值消化速度低于预期，拥挤持仓就会放大调整。 注意，图中日本1989年的44%采用全球股市占比，其余多数数据采用美国股市占比，横向比较存在口径差异。