Overnight, the three major US stock indices closed slightly lower: the Dow fell 0.37%, the Nasdaq declined 0.33%, and the S&P 500 dropped 0.28%. Tech stocks faced pressure, while Intel bucked the trend with a surge of over 6% due to rumors of seeking investment from Apple. The energy sector continued to lead gains.

Chinese assets rallied, driven by news such as advancements in lithography machines and Alibaba's increased capital expenditures. The Nasdaq Golden Dragon China Index surged 3.74%, with Alibaba rising over 8%, and JD.com and Baidu both gaining over 5%. Funds significantly flowed back into Chinese-concept assets.

In the Asia-Pacific market, the Nikkei 225 Index rose 0.30% yesterday, while the Hang Seng Index gained 1.37%. Looking ahead, the Federal Reserve's policy path and valuation pressures remain key market focuses, with Powell's warning about high US stock valuations raising concerns. However, Chinese-concept stocks are buoyed by AI investments and increased capital expenditures, leading to a notable improvement in short-term sentiment.