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China pivots to domestic growth, Tech giants dominate market

China shifts to boost domestic economy; 'Super Seven' tech giants now dominate global stock market, sparking diversification concerns

No significant news in the last two days.

Today ChatGPT read 1275 top news stories. After removing previously covered events, there are 2 articles with a significance score over 7.

[7.3] Chinese economic strategy shifts to domestic demand-led growth — The Hindu

The 2023 Chinese Central Economic Work Conference emphasized stability-oriented economic growth for 2024, shifting focus from export-led to domestic demand-led growth. Key strategies include promoting high-quality growth, self-reliance in core technologies, and financial discipline. Measures include boosting domestic consumption, vitalizing research and development in high-tech sectors, and implementing prudent monetary and proactive fiscal policies.

[7.1] "Super Seven" dominate stock market, raise diversification concerns — The Guardian

The stock market story of 2023 is the rise of the "Super Seven" or "Magnificent Seven" - Meta, Amazon, Apple, Google (Alphabet), Microsoft, Tesla, and Nvidia. These companies now account for 17.2% of the MSCI All Country World Index, surpassing the combined representation of Japan, the UK, China, France, and Canada. Their collective value has risen by 74% in 2023, while the rest of the world's equities have managed only 12%. This extreme market concentration raises concerns about potential future performance and the lack of diversification for investors.

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