港币/日元 (HKDJPY) 加自选

日元兑美元再次贬值超过154，回吐了上周的涨幅，尽管最高货币外交官金田正人表示，政府已准备好打击无序、投机驱动的外汇波动。尽管如此，神田拒绝证实日本当局是否是上周日元从低到高反弹5.2%时涉嫌干预的幕后黑手。日本银行的数据显示，该行为捍卫人民币汇率花费了近600亿美元。与此同时，分析人士认为，此举只为日本当局争取了一段时间，因为市场基本面对日元仍持悲观态度。美国财政部长珍妮特·耶伦周末也表示，干预应该是罕见的，应该进行磋商，这表明日本和美国在外汇政策上缺乏协调。

The Japanese yen depreciated again past 154 per dollar, giving back gains from last week even after top currency diplomat Masato Kanda said the government stands ready to combat disorderly, speculative-driven foreign exchange moves. Still, Kanda refused to confirm whether Japanese authorities were behind the suspected intervention last week when the yen bounced as much as 5.2% from low to high. Bank of Japan data suggested it spent nearly $60 billion to defend the currency. Meanwhile, analysts argued that the move only bought Japanese authorities some time as market fundamentals remain bearish for the yen. US Treasury Secretary Janet Yellen also said over the weekend that interventions should be rare and consultations should take place, indicating a lack of coordination between Japan and the US on foreign exchange policy.

香港股市在周四早盘交易中下跌99点，跌幅0.53%，至18480点，11个交易日来首次下跌，原因是大多数板块下跌，尤其是科技、消费者和金融板块。在恒生指数触及8个月来的最高水平后，交易员锁定了利润。此外，在本周中国公布一些关键数据之前，包括4月份的贸易数据和通胀数据，人们的警惕性有所提高。与此同时，根据上周的官方数据，4月份中国服务业的增长是3个月来最小的。此外，一家私人调查公司周一显示，由于成本上升，该国服务活动的增长率有所放缓。在中国最近召开的政治局会议之后，对支持性政策的押注为今年秋天画上了句号。在美国，由于希望美联储今年能够降息，股市一夜之间出现了自11月以来最好的3天涨势。腾讯（Tencent Hlds）是影响该指数的一些大盘股。（-0.7%），美团（-3.8%），科大。（-3.1%）和中通快递（-2.5%）。

Hong Kong's shares lost 99 points or 0.53% to 18,480 in morning deals on Thursday, falling for the first session in 11 due to losses in most sectors, notably tech, consumers, and financials. Traders locked their profits after the Hang Seng hit its highest level in 8 months. Further, vigilance grew ahead of some key data from China this week, including April trade figures and inflation numbers. Meanwhile, the Chinese service sector for April rose the least in 3 months, according to last week's official data. In addition, a private survey company showed Monday that the growth rate in the country's service activity eased due to rising costs. Bets for supportive policies following China's recent Politburo meeting capped the fall. In the US, stocks saw their best 3-day rally since November overnight, on hopes that the Fed will be able to cut interest rates this year. Some big-cap that weighed the index were Tencent Hlds. (-0.7%), Meituan (-3.8%), KE Hlds. (-3.1%), and ZTO Express (-2.5%).

周二，日经225指数上涨1.1%，收于38600点以上，东证指数上涨0.4%，收于2740点，日本股市创下三周新高，投资者从假期延长的周末回来。国内股市也追随华尔街的涨势，因为疲软的美国就业数据重新唤起了人们对美联储将很快开始降息的希望。在日本，最终数据显示，4月份私营部门活动仍呈扩张性，服务业活动扩张幅度为八个月来最大。继华尔街出现类似走势后，科技股领涨，东京电子（4.6%）、迪斯科公司（4.8%）、Advantest（2.1%）、Keyence（2.3%）和Lasertec（3.2%）领涨。其他指数权重股也上涨，包括迅销（3.4%）、三菱重工（2.4%）和日立（2.4%）。

The Nikkei 225 Index jumped 1.1% to above 38,600 while the broader Topix Index gained 0.4% to 2,740 on Tuesday, with Japanese shares hitting three-week highs as investors returned from a holiday-extended weekend. Domestic stocks also tracked gains on Wall Street as soft US jobs data revived hopes that the Federal Reserve will start cutting interest rates soon. In Japan, a final reading showed that private sector activity remained expansionary in April as services activity expanded the most in eight months. Technology stocks led the charge following similar moves on Wall Street, with gains from Tokyo Electron (4.6%), Disco Corp (4.8%), Advantest (2.1%), Keyence (2.3%) ang Lasertec (3.2%). Other index heavyweights also advanced, including Fast Retailing (3.4%), Mitsubishi Heavy Industries (2.4%) and Hitachi (2.4%).

在价格压力下，澳新银行日本服务业采购经理人指数从2024年4月的11个月高点54.6下调至54.3，此前3月为54.1。这标志着服务业连续第20个月增长，新订单增长速度为10个月来最高，而海外订单则在入境旅游销售额的推动下加速至9个月来最快。此外，就业人数连续第七个月增加，尽管就业创造率自3月份以来保持不变，积压工作在2024年降至迄今为止的最疲软水平。在通货膨胀方面，由于工资成本和运输费用的上涨，投入品价格通胀加速至八个月来的最高点。因此，产出成本通胀是自2014年4月销售税上调以来增长最快的，因为企业需要转嫁更高的业务费用。最后，市场情绪有所减弱，但仍远强于长期调查的平均水平。

The au Jibun Bank Japan Services PMI was revised lower to an eight-month high of 54.3 from a preliminary estimate's 11-month high of 54.6 in April 2024, after a final 54.1 in March, amid price pressures. It marked the 20th successive month of growth in the service sector, with new orders growing the most in 10 months while overseas orders accelerated to the fastest in nine months, boosted by sales from inbound tourism. Also, employment increased for the seventh straight month, although the rate of job creation was unchanged since March, with backlogs of work easing to the softest in 2024 so far. On inflation, input price inflation accelerated to an eight-month high due to higher wage costs and transportation bills. As a result, output cost inflation rose the fastest since the sales tax hike in April 2014, as firms needed to pass on higher business expenses. Finally, sentiment weakened but was still much stronger than the long-run survey average.