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新西兰元周一升至0.592美元左右，在触及两个多月低点后延续了前一交易日的反弹。在美元相对疲软以及交易员评估美国新关税影响的情况下，股价上涨。上周，在令人失望的美国就业报告和唐纳德·特朗普总统解雇一名高级劳工官员后，美元走弱，促使市场对美联储可能的两次降息进行定价，预计第一次降息将在9月进行。与此同时，美国将从8月7日起将新西兰产品的关税从10%提高到15%，这加剧了人们对经济影响的担忧，并使新西兰在关键出口中处于不利地位。然而，经济学家认为，鉴于目前大宗商品价格强劲，这种影响将是可控的。投资者现在等待周二公布的关键国内劳动力数据，失业率预计将攀升至5.3%的八年多来的最高点。

The New Zealand dollar rose to around $0.592 on Monday, extending its rebound from the previous session after hitting a more than two-month low. The gains came amid a relatively soft US dollar and as traders assessed the impact of new US tariffs. The greenback weakened last week following a disappointing US jobs report and President Donald Trump's dismissal of a top labor official, prompting markets to price in two potential Federal Reserve rate cuts, with the first expected in September. Meanwhile, the US is set to raise tariffs on New Zealand products to 15% from 10%, effective August 7, heightening concerns about the economic impact and putting New Zealand at a disadvantage in key exports. However, economists believe the effect will be manageable given currently strong commodity prices. Investors now await key domestic labor data due Tuesday, with the unemployment rate expected to climb to an over eight-year high of 5.3%.

香港股市周一早盘上涨98点，涨幅0.4%，至24607点，结束了连续四天的下跌，房地产和科技板块领涨。上周，中国最高领导人在政治局会议上承诺支持经济并解决“无序竞争”问题后，市场情绪有所改善。北京还确认了将于10月举行第四次全体会议的计划，该会议可能以下一个五年计划为中心。周五，华尔街因疲软的就业数据大幅下跌，美国期货小幅反弹，增加了支撑。在关税方面，美国财政部长斯科特·贝森特表示乐观，称美国和中国在最近斯德哥尔摩会谈后“有达成协议的可能”。然而，在即将到来的7月私人调查服务业采购经理人指数和本周晚些时候公布的中国7月贸易数据之前，谨慎态度缓和了进一步的上涨。领先者包括招金矿业（7.1%）、联想集团（2.6%）、中芯国际（2.9%）和新鸿基地产（2.0%）。

Hong Kong shares rose 98 points or 0.4% to 24,607 on Monday morning deals, snapping a four-day losing streak amid broad-based gains led by property and tech sectors. Sentiment improved after China’s top leaders pledged to support the economy and address “disorderly competition” during a Politburo meeting last week. Beijing also confirmed plans to hold its fourth plenum in October, likely centered on the next five-year plan. A modest rebound in U.S. futures added support, following Wall Street’s sharp drop Friday on weak jobs data. On the tariff front, U.S. Treasury Secretary Scott Bessent expressed optimism, saying the U.S. and China have “the makings of a deal” after recent talks in Stockholm. However, further gains were tempered by caution ahead of the upcoming July services PMI from a private survey and China’s July trade figures, due later this week. Early movers included Zhaojin Mining Industry (7.1%), Lenovo Group (2.6%), SMIC (2.9%), and Sun Hung Kai Properties (2.0%).

周一，金价在周五创下两个月来最大涨幅后，小幅下跌至每盎司3350美元左右，投资者正在权衡唐纳德·特朗普总统即将出台的关税和美联储利率前景的影响。周五，金价上涨2.2%，为6月2日以来最大单日涨幅，受避险需求和降息押注增加的推动。特朗普宣布对来自数十个国家的进口商品征收10%至41%的全面新关税，将于8月7日生效，这引发了反弹。此外，美国就业数据显示劳动力市场疲软的迹象，巩固了美联储可能在9月会议上降低利率的预期。

Gold prices edged down to around $3,350 per ounce on Monday, after gaining the most in two months on Friday, with investors weighing the implications of President Donald Trump’s looming tariffs and the Federal Reserve’s interest rate outlook. On Friday, bullion climbed 2.2%, its largest one-day gain since June 2nd, driven by safe-haven demand and growing bets on an interest rate cut. The rally was sparked by Trump’s announcement of sweeping new tariffs — ranging from 10% to 41% — on imports from dozens of countries, set to take effect on August 7. Additionally, US jobs data showed signs of a softening labor market, cementing expectations that the Fed may lower interest rates at its September meeting.

周一，上证综指微涨0.2%，收于3570点，而深证成份股下跌0.2%，收于10970点，中国股市在经济和政策担忧挥之不去的情况下难以确定方向。上周的政治局会议上，北京承认通货紧缩、工业产能过剩和房地产衰退加剧等风险日益增长，但没有宣布重大刺激措施，这让希望采取更强有力支持措施的投资者失望。现在人们的注意力转向即将公布的贸易和通胀数据，这些数据可能为脆弱的美中关税休战的早期影响提供线索。虽然官员们上周在斯德哥尔摩结束了会谈，但美国总统唐纳德·特朗普尚未签署延长协议。科技股大多上涨，而工业和资源相关股则面临压力。

The Shanghai Composite edged up 0.2% toward 3,570 while the Shenzhen Component slipped 0.2% to 10,970 on Monday, as Chinese equities struggled for clear direction amid lingering economic and policy concerns. Last week’s Politburo meeting saw Beijing acknowledge growing risks including deflation, industrial overcapacity, and a deepening property downturn, but stopped short of announcing major stimulus, disappointing investors hoping for stronger support measures. Attention now turns to upcoming trade and inflation data, which could offer clues on the early effects of a fragile US-China tariff truce. While officials wrapped up talks in Stockholm last week, US President Donald Trump has yet to sign off on an extension of the agreement. Technology stocks mostly advanced, while industrial and resource-related stocks came under pressure.