Hong Kong Financial Secretary Paul Chan said the Northern Metropolis' first district development project was successfully tendered, marking a milestone and testing an innovative public‑private cooperation model. The bid used a two‑envelope system that prioritized bidders' proposals for long‑term contributions to Hong Kong industry and the broader economy, aiming to select a strategic partner rather than a pure property developer. Total project investment is about HKD 16.8 bln and is expected to

CITIC Securities says post-2022 the A-share market has settled into persistent, structural rapid sector rotation; extreme rotation episodes typically last about 1–2 months and reflect insufficient breadth of earnings upgrades and a shortage of sustainable lead themes. Rising trade tensions and larger exchange-rate translation swings are constraining offshore/export earnings narratives and valuations, narrowing market breadth and reinforcing fast sector rotation. Recent AI progress strengthens an existing rapid rise in compute demand but is insufficient to change the long-term commercialization narrative; only further technical shifts (e.g., RSI, anti-distillation) could materially expand long-term valuation space. In high-rotation regimes, low-valuation strategies generally outperform; PB-ROE strategies show a clear edge and see returns rise with rotation speed, while momentum strategies are most impaired. Under rapid rotation, upside tends to be valuation repair in names with earnings support. Recommended mid-term allocation is a barbell of AI + energy/chemicals: expect AI concentration in Q2 and a gradual warming in energy/chemicals thereafter.

G5 Sahel said on the 29th it condemned a failed coup attempt in Niamey and reaffirmed firm support for Niger’s response. It said a group of soldiers tried in the early hours of the 29th to attack military base No.101 and other sensitive locations in Niamey; the attempt was contained and foiled. G5 Sahel said it will continue to support Niger in defending sovereignty and maintaining peace.