美元指数周四下跌至105.8左右，因投资者避免在美国第一季度GDP数据可能影响美联储货币政策前景之前下大赌注。市场还期待着周五的PCE价格指数报告，这是美联储首选的通胀指标，以获得更多关于价格趋势的见解。最近的数据显示，3月份美国耐用品订单超出预期，而标普数据显示，美国私营部门上月的增长开始放缓。交易员们现在已经减少了对美联储今年降息的押注，但仍将9月视为宽松周期的潜在开始。美元兑大多数主要货币最近都有所下跌。与此同时，由于投资者等待日本央行的政策信号，日元兑日元汇率创下34年新高。

The dollar index was subdued around 105.8 on Thursday as investors avoided making big bets ahead of US GDP data for the first quarter that could influence the outlook for Federal Reserve monetary policy. Markets also look forward to the PCE price index report on Friday, the Fed’s preferred inflation gauge, to gain more insights on price trends. Recent data showed that US durable goods orders exceeded expectations in March, while S&P data indicated that US private sector growth is beginning to slow down last month. Traders have now scaled back bets on Fed rate cuts this year, but still see September as the potential start of the easing cycle. The dollar held recent declines against most major currencies. Meanwhile, it scaled new 34-year highs versus the Japanese yen as investors await policy signals from the Bank of Japan.

周四，上证综指上涨0.1%，收于3048点左右，深证成分股上涨0.6%，收于9307点。随着中国市场情绪和宏观前景的改善，内地股市连续第二个交易日攀升。瑞银（UBS）分析师周二将摩根士丹利资本国际（MSCI）中国股票评级上调至“增持”，称外国投资者将通过沪港通逐步重返中国市场。在数据方面，投资者期待下周公布的最新PMI数据，以获得对这个世界第二大经济体的新见解。科技和消费相关股领涨，鲁讯精密（5%）、成都高新（4.2%）和四川九州（3.6%）领涨。在企业新闻方面，长城汽车股价上涨8.4%，此前第一季度净利润同比增长1752.6%，达到32亿元，收入增长47.6%，达到428.6亿元。

The Shanghai Composite rose 0.1% to around 3,048 while the Shenzhen Component gained 0.6% to 9,307 on Thursday, with mainland stocks climbing for the second straight session amid an improving market sentiment and macro outlook in China. UBS analysts upgraded MSCI China equities to “overweight” on Tuesday, saying foreign investors will gradually return to China’s market via the Stock Connect. On the data front, investors look forward to the latest PMI figures due next week for fresh insights on the world’s second-largest economy. Technology and consumer-related stocks led the advance, with gains from Luxshare Precision (5%), Chengdu Hi-Tech (4.2%) and Sichuan Jiuzhou (3.6%). In corporate news, Great Wall Motor rallied 8.4% after posting a 1,752.6% surge in Q1 net profit from a year ago to 3.2 billion yuan, with revenue up 47.6% to 42.86 billion yuan.

香港股市周四早盘上涨113点，涨幅0.66%，至17311点，连续第四个交易日上涨，所有板块均上涨。恒生指数触及近五个月来的最高水平，包括高盛和瑞银在内的主要投资银行对中国和香港股市的乐观展望继续提振市场情绪。与此同时，美国国务卿布林肯今天抵达中国，在上海与共产党高级官员交谈，然后前往北京进行最后一天的会晤，可能会与习近平主席主席面对面。与此同时，北京车展将于周四开幕，预计这一活动将提振汽车公司的股价。在美国国债收益率上升和Meta Platforms股份有限公司前景令人失望的情况下，美国期货价格回落，为牛市势头画上了句号。在单股中，中国海外地产上涨4.8%，联想集团上涨1.8%，比亚迪、吉利汽车和比亚迪分别上涨1.7%和1.2%。

Stocks in Hong Kong rose 113 points or 0.66% to 17,311 on Thursday morning trade, increasing for the fourth session in a row as all sectors gained. The Hang Seng hit its highest level in nearly five months as positive outlooks on Chinese and Hong Kong stocks from major investment banks, including Goldman Sachs and UBS, continued to lift sentiment. Meanwhile, US Secretary of State Blinken has arrived in China to talk with senior Communist Party officials in Shanghai today before heading to Beijing for a final day of meetings, with a possible face-to-face with President Xi Jinping. In the meantime, the Beijing Auto Show will begin Thursday and the event is expected to boost the stock prices of auto companies. Capping the bullish traction was a pullback in US futures amid rising Treasury yields and a disappointing outlook from Meta Platforms Inc. Among single shares, China Overseas Land jumped 4.8%, Lenovo Group climbed 1.8% while BYD Co. and Geely Auto and BYD each added 1.7% and 1.2%.

周四，随着日本央行开始为期两天的货币政策会议，日元兑美元汇率突破155，跌至34年来的新低。人们普遍预计，日本央行在3月份退出负利率后将保持利率不变，但随着日元走软超过市场此前表示将促使东京采取行动的心理关键水平，交易员将关注任何鹰派信号。日本央行行长上田一夫上周在G20峰会上也表示，如果日元疲软导致进口成本上升导致价格持续上涨，央行可能会再次加息。此外，他本周表示，如果趋势通胀如预期那样加速向2%的目标迈进，日本央行将再次加息。与此同时，日本财务大臣铃木顺一表示，他不会对外汇水平发表评论。

The Japanese yen breached the 155 per dollar level on Thursday, sinking to new 34-year lows as the Bank of Japan kicks off its two-day monetary policy meeting. The BOJ is widely expected to keep rates unchanged after exiting negative rates in March, but traders will watch for any hawkish signals as the yen weakened past the psychologically key level that markets previously said would prompt Tokyo into action. BOJ Governor Kazuo Ueda also said at the G20 summit last week that the central bank may raise interest rates again if the yen’s weakness leads to sustained price increases through higher import costs. Moreover, he said this week that the BOJ will hike rates again if trend inflation accelerates toward the 2% target as expected. Meanwhile, Japan Finance Minister Shunichi Suzuki said he won’t comment on foreign exchange levels.