美关税谈判进度影响亚太股市走势，世行下调越南、菲律宾、印尼经济增速丨东盟观察

Group 1: Trade Negotiations and Market Impact - The U.S. government has urged trade partners to accelerate negotiations, which may reduce systemic risks in the market [1][3] - The fluctuation in the Asia-Pacific stock markets is influenced by U.S. tariff policies and ongoing trade negotiations, affecting investor sentiment [2][3] - If trade negotiations progress smoothly, it could improve profit expectations for export-dependent countries in the Asia-Pacific region, potentially boosting stock markets [3][4] Group 2: Performance of Asian Markets - South Korea's stock market led the gains in the Asia-Pacific region with a weekly increase of 4.24%, entering a technical bull market [3][4] - The South Korean stock market benefits from strong technology sector competitiveness and increased foreign investment following political stability [4] - Other Asia-Pacific indices showed mixed results, with Japan's Nikkei 225 index declining by 0.59% and Australia's S&P/ASX200 index rising by 0.96% [1] Group 3: Southeast Asia Economic Outlook - Southeast Asian economies are negatively impacted by U.S. tariff policies, leading to reduced consumer confidence and investment [5][6] - The World Bank forecasts a slowdown in economic growth for the region, with specific countries like Vietnam and the Philippines experiencing lower growth projections [6][7] - Countries in Southeast Asia are exploring ways to mitigate the negative impacts of tariffs by enhancing domestic demand and regional cooperation [7] Group 4: Japanese Bond Market Dynamics - Japan's 30-year bond auction saw the lowest bid-to-cover ratio of 2.92 in 2023, indicating weak demand [8] - The Bank of Japan's reduction in bond purchases is contributing to decreased liquidity in the bond market, which may affect stock market valuations [8][9] - Rising long-term bond yields could lead to a shift in investment from equities to higher-yielding bonds, impacting stock market dynamics [9]