1. ChiNext Index Hits 11-Year High, But Surging Concentration Risk Exposes Fragile Foundation
China's tech-heavy ChiNext Index is soaring to an 11-year high, but the rally is built on a dangerously narrow foundation. The index's surge is being driven almost entirely by a small cluster of heavyweight stocks, raising significant concentration risk and exposing the market's underlying fragility. This lopsided perf...