纽币/港币 (NZDHKD) 加自选

恒生指数周二飙升408点，收于25538点，涨幅1.6%，连续第四个交易日上涨，达到近四年来的最高水平。这一激增是由广泛的行业增长和乐观情绪推动的，因为美国和中国官员计划下周在斯德哥尔摩举行会议，这是他们旨在延长关税休战的第三轮会谈。在特朗普总统宣布与日本达成贸易协议，包括对包括汽车在内的所有商品征收15%的关税后，美国期货的强劲上涨也提振了市场情绪。北京努力遏制激烈的价格战和西藏的一个大型水电大坝项目，加剧了看涨情绪。与此同时，据报道，中国股市的日成交量升至近五个月高点，而保证金融资达到近四个月来的最高点。科技股指数上涨2.5%，紧随其后的是消费股和金融股。表现最好的包括快手科技（7.0%）、腾讯（4.9%）、金蝶国际软件（4.4%）和美团（3.0%）。

The Hang Seng surged 408 points or 1.6% to close at 25,538 on Tuesday, rising for the fourth session and reaching its highest level in almost four years. The upsurge was driven by broad-based sector gains and optimism ahead of a planned meeting between U.S. and Chinese officials in Stockholm next week—their third round of talks aimed at extending a tariff truce. A strong rise in U.S. futures also boosted sentiment after President Trump announced a trade deal with Japan that includes a 15% tariff on all goods, including autos. Adding to bullish sentiment were Beijing’s efforts to curb intense price wars and a massive hydropower dam project in Tibet. Meantime, daily turnover in China’s equity markets reportedly rose to near five-month highs, while margin financing hit its highest in nearly four months. The tech index jumped 2.5%, followed by consumer and financial shares. Top performers included Kuaishou Tech (7.0%), Tencent (4.9%), Kingdee Intl. Software (4.4%), and Meituan (3.0%).

新西兰基准标准普尔/NZX 50指数周三下跌0.3%，收于12794点，延续了前一交易日的跌幅，尽管美国贸易谈判取得了积极进展。美国总统唐纳德·特朗普周二宣布了与日本的一项贸易协议，根据该协议，东京将对向美国出口的商品降低15%的关税，此前与菲律宾达成的另一项协议规定，该国的出口商品将面临19%的关税。与此同时，国内投资者将密切关注新西兰储备银行首席经济学家Paul Conway周四的演讲，该演讲将讨论关税对经济的影响，并可能为8月份降息的可能性提供进一步线索。在企业方面，Infratil（-2.45%）、Spark NZ（-1.2%）、Fletcher Building（-1.6%）和Ryman Healthcare（-1.6%。

New Zealand's benchmark S&P/NZX 50 index dropped 0.3% to close at 12,794 on Wednesday, extending losses from the previous session despite positive developments in US trade negotiations. President Donald Trump on Tuesday announced a trade agreement with Japan that will see Tokyo pay a reduced 15% tariff on exports to the US, following a separate deal with the Philippines under which the country’s exports will face a 19% tariff. Meanwhile, domestic investors will be closely watching a speech by Reserve Bank of New Zealand Chief Economist Paul Conway on Thursday, which will address the economic impact of tariffs and could offer further clues on the likelihood of a rate cut in August. On the corporate front, Infratil (-2.45%), Spark NZ (-1.2%), Fletcher Building (-1.6%), and Ryman Healthcare (-1.6%) were among the session’s biggest decliners.

周三，在唐纳德·特朗普总统宣布与日本达成贸易协议，缓解关税战担忧后，新西兰元兑美元汇率突破0.60美元，连续第四个交易日上涨。该协议包括对所有进口的日本商品征收15%的关税，低于拟议的25%，日本将在美国投资5500亿美元。在国内，本周早些时候公布的数据显示，新西兰第二季度的年通胀率升至一年来的最高点，但略低于预期，而6月份的贸易顺差大幅收窄，强化了下个月降息的预期。市场目前预计，8月份降息25个基点的可能性为80%，尽管投资者认为宽松周期可能即将结束。交易员们将密切关注新西兰储备银行首席经济学家Paul Conway周四关于关税对经济影响的演讲，这可能会进一步了解8月份降息的可能性。

The New Zealand dollar strengthened past $0.60 on Wednesday, marking its fourth consecutive session of gains, after President Donald Trump announced a trade deal with Japan, easing tariff war concerns. The agreement includes a 15% tariff on all imported Japanese goods, down from a proposed 25%, and Japan will invest $550 billion in the US. Domestically, data released earlier this week showed New Zealand's annual inflation rose to a one-year high in the second quarter but was slightly below forecasts, while the trade surplus narrowed sharply in June—reinforcing expectations of a rate cut next month. Markets now price in an 80% chance of a 25bps cut in August, though investors believe the easing cycle may be nearing its end. Traders will be closely watching RBNZ Chief Economist Paul Conway’s speech on the economic impact of tariffs on Thursday, which could offer further insight into the likelihood of an August rate cut.

香港股市周二早盘上涨130点，涨幅0.5%，至25264点，连续第四个交易日上涨，同时保持2021年11月以来的最高水平。在特朗普总统宣布与日本达成涉及15%关税的贸易协议后，美国期货价格显著上涨，所有板块均上涨。与此同时，受西藏1700亿美元水电项目的启动、美中贸易紧张局势的缓解以及北京对机械、汽车和电气设备等关键行业的新政策支持的推动，内地市场也创下3年半以来的新高。投资者也在本月晚些时候中国即将召开的政治局会议之前做好了准备，预计该会议将影响今年剩余时间的经济政策。Genscript Biotech在预测今年上半年将恢复盈利后，股价飙升5.8%。其他涨幅最大的股票包括中信有限公司（2.5%）、创新生物（2.3%）、太创工业（2.1%）和腾讯控股（1.6%）。

Hong Kong shares rose 130 points or 0.5% to 25,264 on Tuesday morning deals, extending gains for the fourth straight session while staying at their highest level since November 2021. All sectors advanced, supported by a notable rise in U.S. futures after President Trump announced a trade deal with Japan involving a 15% tariff. Meanwhile, mainland markets also notched to a 3-1/2-year high, driven by the launch of a $170 billion hydropower project in Tibet, easing U.S.-China trade tensions, and fresh policy support from Beijing for key sectors including machinery, autos, and electrical equipment. Investors also positioned ahead of China’s upcoming Politburo meeting later this month, which is expected to shape economic policy for the remainder of the year. Genscript Biotech surged 5.8% after forecasting a return to profit in the first half of the year. Other top gainers included Citic Ltd. (2.5%), Innovent Biologics (2.3%), Techtronic Industries (2.1%), and Tencent Holdings (1.6%).