香港恒生指数3月25日（周三）开盘上涨216.81点，涨幅0.87%，报25280.52点； 香港恒生科技指数3月25日（周三）开盘上涨47.75点，涨幅0.99%，报4878.64点； 国企指数3月25日（周三）开盘上涨60.43点，涨幅0.71%，报8559.96点； 红筹指数3月25日（周三）开盘上涨4.78点，涨幅0.11%，报4214.86点。

富时中国A50指数期货开盘涨0.5%、

The European Central Bank will launch new checks on banks’ exposure to private credit, focusing on dealings with direct lenders after last year’s deficiencies. Concerns rise as AI-driven disruption hits software firms, heavily financed by non-bank lending. Private credit accounts for 1–2% of European banks’ assets, higher at Deutsche Bank, BNP Paribas, and Societe Generale. While loans are typically secured, analysts warn ongoing headlines may weigh on valuations of the most exposed banks.