中美貿易戰風險導致全球股市震盪

Stock markets in Asia tumbled on Friday as trade tensions between the US and China escalated, after President Donald Trump announced tariffs on up to $60bn in annual Chinese imports and Beijing applied its own levies on US imports.

中美之間的貿易緊張升級，週五亞洲股市大跌。此前美國總統唐納德?特朗普(Donald Trump)總統宣佈對每年高達600億美元的中國輸美產品徵收25%關稅，而北京方面也對從美國進口的產品加徵關稅。

Hong Kong’s Hang Seng index sold off 3.4 per cent in afternoon trade in Asia, weighed down by technology stocks, which dropped by 6 per cent.

受科技股下跌6%影響，香港恆生指數(Hang Seng index)午盤下跌3.4%。

China’s CSI 300 index of mainland-listed stocks fell 3.1 per cent,

追蹤中國內地大盤股的滬深300指數(CSI 300)下跌3.1%。

In Japan, the Topix index dropped 3.6 per cent, while Australia’s S&P/ASX was down by 1.9 per cent.

日本東證股價指數(Topix)下跌3.6%，而澳大利亞的S&P/ASX 200指數下跌1.9%。

European stocks were expected to follow. According to opening calls from London-based spread betting groups, Frankfurt’s Xetra Dax will fall by 1.7 per cent with the FTSE 100 expected to decline by 1 per cent.

預計歐洲股市也將跟隨這股趨勢。據倫敦點差交易集團的開盤集合競價，法蘭克福的Xetra Dax指數將下跌1.7%，而富時100指數(FTSE 100)預計將下跌1%。

Money flowed into havens such as the yen, with the Japanese currency firming 0.6 per cent on Friday to ￥104.62 against the dollar, its highest since November 2016.

資金流入日元等避險資產，週五日元兌美元匯率上漲0.6%，至1美元兌104.62日元，這是日元自2016年11月以來的最高水平。

“The trade war stuff is clearly spooking the Japanese market,” said a Tokyo equities broker. “The Topix is basically a barometer for global risk-on, risk-off appetite and is always going to bear the brunt for a big global set of concerns like we have today.”

“貿易戰的事顯然驚嚇了日本市場。”東京的一名證券經紀人說，“東證指數基本上是全球風險偏好和風險規避趨勢的晴雨表，並且總是首當其衝，受到全球一大堆問題的影響，就像我們今天遇到的這樣。”

Another facto was the risk of Japan-specific issues, he added. “There is a worry [that] Japan cannot avoid the crossfire of a US-China trade war.”

另外一個因素是日本本身出現問題的風險，他補充道，“人們擔憂日本無法避免在中美貿易戰的交叉火力中受損。”

US benchmarks fell the most since February 8, with the S&P 500 dropping 2.5 per cent and slipping into the red for the year. Bonds rose, with the yield on the 10-year Treasury falling 6 basis points to 2.82 per cent. The Cboe Vix volatility index jumped back above its long-term average of 20 for the first time in more than a month.

美國基準指數出現自今年2月8日以來的最大跌幅，標普500指數(S&P 500)下跌2.5%，今年以來的累計漲幅爲負。債券上漲，美國10年期國債收益率下跌6個基點，至2.82%。芝加哥期權交易所波動率指數(CBOE Vix)在1個月以來首次回升至其長期平均水平20以上。

The Trump administration’s tariff plans have stoked fears of heightened inflationary pressure and curtailed growth.

特朗普政府的關稅計劃引發了對通脹壓力加大和經濟增長受阻的擔憂。

“Cyclical sectors are getting beaten up,” said Brian Nick, chief investment strategist at Nuveen. “There’s a sense this will hurt growth in China and the US. These are the sectors that would be more hurt if you had an end to the era of friendly trade.”

“週期性行業正遭受打擊。”Nuveen的首席投資策略師布賴恩?尼克(Brian Nick)，“市場認爲這將傷及中國和美國的增長。如果友好貿易的時代宣告結束，有一些行業受到的損失會更多。”

Boeing and Caterpillar, large industrial groups with extensive parts of their supply chain in China, were both down more than 5 per cent, and among the day’s laggards.

在當天的一波下跌中，波音(Boeing)和卡特彼勒(Caterpillar)均下跌5%。這兩家大工業集團都有相當大一部分供應鏈在中國。