中美贸易战风险导致全球股市震荡

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.

中美之间的贸易紧张升级，周五亚洲股市大跌。此前美国总统唐纳德?特朗普(Donald Trump)总统宣布对每年高达600亿美元的中国输美产品征收25%关税，而北京方面也对从美国进口的产品加征关税。

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%影响，香港恒生指数(Hang Seng index)午盘下跌3.4%。

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

追踪中国内地大盘股的沪深300指数(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.

日本东证股价指数(Topix)下跌3.6%，而澳大利亚的S&P/ASX 200指数下跌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.

预计欧洲股市也将跟随这股趋势。据伦敦点差交易集团的开盘集合竞价，法兰克福的Xetra Dax指数将下跌1.7%，而富时100指数(FTSE 100)预计将下跌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.

资金流入日元等避险资产，周五日元兑美元汇率上涨0.6%，至1美元兑104.62日元，这是日元自2016年11月以来的最高水平。

“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.”

“贸易战的事显然惊吓了日本市场。”东京的一名证券经纪人说，“东证指数基本上是全球风险偏好和风险规避趋势的晴雨表，并且总是首当其冲，受到全球一大堆问题的影响，就像我们今天遇到的这样。”

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.”

另外一个因素是日本本身出现问题的风险，他补充道，“人们担忧日本无法避免在中美贸易战的交叉火力中受损。”

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.

美国基准指数出现自今年2月8日以来的最大跌幅，标普500指数(S&P 500)下跌2.5%，今年以来的累计涨幅为负。债券上涨，美国10年期国债收益率下跌6个基点，至2.82%。芝加哥期权交易所波动率指数(CBOE Vix)在1个月以来首次回升至其长期平均水平20以上。

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

特朗普政府的关税计划引发了对通胀压力加大和经济增长受阻的担忧。

“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.”

“周期性行业正遭受打击。”Nuveen的首席投资策略师布赖恩?尼克(Brian Nick)，“市场认为这将伤及中国和美国的增长。如果友好贸易的时代宣告结束，有一些行业受到的损失会更多。”

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.

在当天的一波下跌中，波音(Boeing)和卡特彼勒(Caterpillar)均下跌5%。这两家大工业集团都有相当大一部分供应链在中国。