南非兰特/日元 (ZARJPY) 加自选

标准普尔南非全球采购经理人指数从上个月的49.0降至2025年3月的48.3。这标志着连续第四个月出现收缩，因为需求持续疲软，在经济和政治不确定性的情况下，产量和新订单进一步下降。新业务出现了一年来第二快的下降，尽管出口订单在非洲需求强劲的支持下出现了七个月来的首次增长。此外，尽管裁员幅度不大，但公司已连续第三个月裁员。采购活动和库存也有所下降。在定价方面，受兰特走强和服务业成本增长放缓的推动，投入价格通胀降至五个月低点。经济放缓使公司自2024年10月以来首次降低了销售价格。展望未来，商业信心小幅下降，但与长期趋势保持一致，因为企业仍然保持谨慎，但对未来更强劲的需求、更低的通胀和增加的投资抱有希望。

The S&P Global South Africa PMI fell to 48.3 in March 2025 from 49.0 in the previous month. This marked the fourth straight month of contraction as weak demand persisted, driving further declines in output and new orders amid economic and political uncertainty. New business saw its second-fastest drop in a year, though export orders rose for the first time in seven months, supported by stronger African demand. Additionally, firms cut jobs for a third month, though layoffs were marginal. Purchasing activity and inventories also declined. On the pricing front, input price inflation eased to a five-month low, helped by a stronger rand and slower service-sector cost increases. The slowdown allowed firms to cut selling prices for the first time since October 2024. Looking ahead, business confidence edged lower but aligned with long-term trends, as firms remained cautious yet hopeful for stronger demand, lower inflation, and increased investment ahead.

日本最大的工会集团Rengo在第三轮数据中预计平均工资上涨5.42%。与3月底的上一次修订相比，这并没有太大变化。但如前所述，这仍然标志着平均工资涨幅连续第二年超过5%。

Japan's largest union group Rengo sees average wage hike of 5.42% in third-round data.It's not too much of a change from the previous revision here at the end of March. But as mentioned before, this still marks a second year running that the average wage hike exceeds 5%.

日本表示没有听到美国征收互惠关税的理由。美国贸易代表办公室公布了他们如何计算适用的关税。正如许多其他人现在所解读的那样，关税的制定方式似乎是为了平衡贸易逆差。

Japan says have not heard rationale behind reciprocal tariffs from the US.Well, the USTR published this in terms of how they calculated the tariffs to be applied. And as deciphered by many others by now, it seems to be that the way the tariffs are formulated is that it is a means to balance out the trade deficit.

周四，日经225指数下跌2.77%，收于34736点，东证指数下跌3.08%，收于2569点。在美国总统唐纳德·特朗普宣布全面互惠关税后，日本股市跌至数月低点，引发了人们对可能破坏主要经济体稳定的全球贸易战的担忧。特朗普对日本商品征收24%的关税，同时对汽车进口征收25%的关税，对日本汽车业造成沉重打击。作为回应，日本贸易大臣武藤洋二表示，日本将继续要求豁免，同时宣布成立一个工作组来评估美国关税的影响。所有板块均下跌，指数权重股如三菱UFJ（-7.2%）、丰田（-5.2%），川崎重工（-7.1%）、任天堂（-3.3%）和Advantest（-4.5%）均大幅下跌。在企业新闻方面，日产股价下跌3.7%，此前有报道证实，日产已按原计划暂停其在墨西哥的部分生产线。

The Nikkei 225 Index tumbled 2.77% to close at 34,736, while the Topix Index dropped 3.08% to 2,569 on Thursday, with Japanese stocks sinking to multi-month lows after US President Donald Trump unveiled sweeping reciprocal tariffs, raising fears of a global trade war that could destabilize major economies. Trump imposed a 24% tariff on Japanese goods, alongside 25% levies on car imports, dealing a heavy blow to Japan’s auto industry. In response, Japanese Trade Minister Yoji Muto said the country will continue to request for an exemption, while announcing the formation of a task force to assess the impact of US tariffs. All sectors declined, with major losses from index heavyweights such as Mitsubishi UFJ (-7.2%), Toyota (-5.2%), Kawasaki Heavy (-7.1%), Nintendo (-3.3%), and Advantest (-4.5%). In corporate news, Nissan declined 3.7% after reports confirmed it had suspended part of its production line in Mexico as previously planned.