每周经济观察海外周报第89期：亚洲区域货币普涨的背后-20250506

Currency Performance - Asian currencies collectively appreciated, led by the New Taiwan Dollar (6.8%), South Korean Won (3.5%), and Russian Ruble (1.9%) during the May Day holiday[2] - The depreciation was most pronounced in the Argentine Peso (-0.8%), Japanese Yen (-0.8%), and British Pound (-0.4%) during the same period[11] Economic Indicators - The U.S. added 177,000 non-farm jobs in April, exceeding the market expectation of 130,000, with an average job growth of 155,000 over the last three months[6] - The U.S. GDP for Q1 recorded a negative growth of -0.3%, primarily due to a significant drop in net exports, with imports surging by 41.3%[44][45] - Japan's central bank maintained its policy rate at 0.5%, revising down its GDP growth forecast for this year from 1.1% to 0.5%[46] Investment Insights - The absolute scale of foreign currency deposits is highest in Hong Kong (approximately $1.25 trillion), followed by the UK ($857 billion) and mainland China ($768 billion)[18] - The net international investment position (excluding reserve assets) is highest in Germany (approximately $3.345 trillion) and Japan ($2.315 trillion), with Hong Kong leading in net position relative to GDP at 398%[24] Market Trends - Global stock markets showed a "risk-on" sentiment, with the Nasdaq index rising by 3% and the S&P 500 increasing by 2.1% during the holiday[5][29] - U.S. Treasury yields rose significantly, with the 10-year yield increasing by 16 basis points, while Japanese yields fell by 3.9 basis points[30] Commodity Performance - Commodity prices generally increased, with industrial metals performing well; however, precious metals and oil prices saw declines, with Brent crude oil dropping by 2.9%[32]