印度10年期国债 (India10Y) 加自选

印度股市周三早盘上涨140点，涨幅0.2%，至82506点，此前一天几乎持平。BSE Sensex指数创下自5月中旬以来的最高水平，追随亚洲市场在华尔街隔夜积极交易后的涨势，这得益于围绕美中贸易谈判的乐观情绪。印美贸易谈判的积极信号进一步提振了市场情绪，讨论集中在市场准入、关税削减和消除非关税壁垒上。投资者信心也因通胀缓解的预期而得到提振，预测显示5月通胀率可能降至3.0%，为2019年4月以来的最低水平，这增加了进一步降息的希望。石油和天然气以及汽车行业是该指数的主要驱动力。Nifty 50指数也上涨0.2%，至25150点以上，其中马恒达和马恒达（1.7%）、信实工业（1.5%）、JSW钢铁（1.0%）、NTPC（0.6%）和UltraTech水泥（0.5%）涨幅显著。

Shares in India rose 140 points, or 0.2%, to 82,506 in early trading on Wednesday, following an almost flat session the previous day. The BSE Sensex reached its highest level since mid-May, tracking gains in Asian markets after a positive session on Wall Street overnight, supported by optimism surrounding US-China trade talks. Sentiment was further lifted by positive signals from India-US trade negotiations, with discussions centered on market access, tariff reductions, and the removal of non-tariff barriers. Investor confidence also received a boost from expectations of easing inflation, with forecasts suggesting May inflation could decline to 3.0%, the lowest level since April 2019, raising hopes for further interest rate cuts. The oil & gas and auto sectors were the main drivers of the index. The Nifty 50 also advanced by 0.2% to above 25,150, with notable gains from Mahindra & Mahindra (1.7%), Reliance Industries (1.5%), JSW Steel (1.0%), NTPC (0.6%), and UltraTech Cement (0.5%).

卢比在外国银行美元销售的帮助下；亚洲外汇持有模式。周三早盘，在外国银行温和抛售美元的推动下，印度卢比小幅走高，而在美国和中国就缓解贸易紧张局势的框架达成一致后，亚洲货币保持稳定。

Rupee aided by foreign banks' dollar sales; Asia FX in holding pattern.The Indian rupee nudged higher in early trading on Wednesday, aided by mild U.S. dollar sales by foreign banks, while Asian currencies were steady after the U.S. and China agreed on a framework to ease trade tensions.

据印度官员称，印度和美国谈判代表周二在新德里的贸易谈判中取得了进展，重点是市场准入、关税削减和非关税壁垒。由Rajesh Agrawal领导的美国贸易代表办公室和印度贸易部的高级官员举行了闭门讨论。特朗普总统和莫迪总理于2月同意在2025年秋季之前敲定一项贸易协议，并在2030年之前将贸易额扩大到5000亿美元。预计到6月底，在特朗普暂停互惠关税（包括对印度征收26%的关税）90天到期之前，将达成一项临时协议。下一阶段可能会解决更复杂的问题，目标是在9月或10月前完成第一批协议。商务部长Piyush Goyal在瑞士表示，印度将首先解决更简单的问题。印度拒绝了美国对小麦、乳制品和玉米的市场准入请求，但提议削减杏仁、开心果和核桃的关税。印度还寻求钢铁关税豁免，但美国拒绝了。

Indian and US negotiators made progress in trade talks in New Delhi on Tuesday, focusing on market access, tariff cuts, and non-tariff barriers, according to Indian officials. Senior officials from the US Trade Representative’s office and India’s trade ministry, led by Rajesh Agrawal, held closed-door discussions. President Trump and PM Modi had agreed in February to finalize a trade deal by fall 2025 and expand trade to $500 billion by 2030. An interim deal is expected by late June, before Trump’s 90-day pause on reciprocal tariffs—including a 26% tariff on India—expires. The next phase may address more complex issues, aiming for a first pact tranche by September or October. Commerce Minister Piyush Goyal, speaking from Switzerland, said India would tackle simpler issues first. India rejected US market access requests for wheat, dairy, and corn but offered tariff cuts on almonds, pistachios, and walnuts. India also sought steel tariff exemptions, which the US declined.

印度股市周二收平，金融股获利回吐抵消了对美中贸易谈判的乐观情绪和印度储备银行持续的政策支持带来的收益。随着投资者获利回吐，飙升至历史高点的金融和银行分别下跌0.5%和0.4%。HDFC银行和ICICI银行分别下跌0.7%和0.8%。更广泛的中小型股指数也保持低迷。IT股因贸易协议的希望上涨1.7%，受益于与美国有业务往来的公司。在摩根士丹利将其列为首选后，Grasim股价上涨3.7%。由于摩根大通的乐观情绪，Coforge上涨2%。塔塔电力公司在达到太阳能生产里程碑后上涨1.7%。随着美中贸易谈判进入第二天，全球情绪乐观。

Indian stocks closed flat on Tuesday as profit-taking in financials offset gains from optimism over US-China trade talks and continued RBI policy support. Financials and banks, which had surged to record highs, slipped 0.5% and 0.4% as investors booked profits. HDFC Bank and ICICI Bank fell 0.7% and 0.8%. Broader mid- and small-cap indexes also remained subdued. IT stocks rose 1.7% on trade deal hopes, benefiting firms with US exposure. Grasim jumped 3.7% after Morgan Stanley named it a top pick. Coforge rose 2% on JPMorgan optimism. Tata Power gained 1.7% after hitting a solar production milestone. Global sentiment was upbeat as US-China trade talks entered a second day.