周度金融市场跟踪：受美国“对等关税”影响全球主要股市多数下跌，债券市场利率大幅下行-2025-04-06

Market Performance - Global stock markets declined significantly due to the impact of the U.S. "reciprocal tariffs," with the MSCI Global Index dropping by 7.9% and the MSCI Developed Markets Index falling by 8.5%[1] - A-shares showed resilience despite a decrease, with the CSI 2000 Index down by 1.1%, the CSI 1000 Index down by 1.0%, and the Shanghai Composite Index down by 1.4%[1] - The Hang Seng Index fell for the fourth consecutive week, decreasing by 2.5%, while the Hang Seng Tech Index dropped by 3.5%[1] Trading Volume and Valuation - Average daily trading volume in A-shares decreased to 1.14 trillion CNY, down 9.8% from the previous week[1] - The turnover rate for the entire A-share market was 1.3%, with a Z-Score of 0.2, indicating a significant drop from the historical average[1] - The price-to-earnings (P/E) ratio for the CSI 300 was 12.4, with a Z-Score of -0.3, while the CSI 1000 had a P/E ratio of 38.1 and a Z-Score of -0.4[1] Bond Market and Interest Rates - The bond market experienced a general decline in yields across all maturities, with the 1-year government bond yield falling by 5.7 basis points to 1.48% and the 10-year yield down by 7.1 basis points to 1.72%[2] - The market's risk aversion increased following the announcement of U.S. tariffs, leading to a significant drop in bond yields[2] Currency and Commodity Trends - The U.S. dollar index fell by 1.1% to 102.9, while the offshore RMB exchange rate rose by 0.4% to 7.30[2] - Gold prices decreased by 1.5% over the week, closing at 3037 USD/ounce, after peaking at 3168 USD/ounce following the tariff announcement[2] - Brent crude oil prices dropped by 10% and WTI crude by 9.7% due to tariff impacts and OPEC's unexpected production increase[2]