0:00 南方财经全媒体集团首席记者施诗 记者李依农 上海报道 《全球财经连线》：我们正经历特朗普2.0时期。与其第一任期相较，美国总统特朗普的关税政策更为 激进。这对全球经济，尤其是欧洲影响几何？ Nicolo Salsano：从整体来看，我们确实需要预期全球经济可能会出现一定程度的放缓。毫无疑问，关 税政策将在多个行业和地区产生广泛影响。 但与此同时，我们也认为，全球化的趋势不会因此而减弱。全球供应链已经高度一体化，具备成熟的机 制和稳定的贸易伙伴关系。因此，从中期来看，短期冲击所带来的影响将会在一定程度上被缓解甚至抵 消。 美国总统特朗普的关税政策，持续冲击全球贸易体系，并引发金融市场动荡，给全球经济带来了不小的 压力与不确定性。渣打银行欧洲区行政总裁Nicolo Salsano在接受南方财经记者采访时表示，尽管特朗 普的关税政策可能在短期内拖累全球经济增长，但全球化的大趋势依然不会改变。他指出，全球供应链 高度整合，国际贸易合作机制也已十分成熟，尽管关税壁垒会造成短期波动，但中长期来看，全球贸易 流动依然会作出必要的调整并有所修复，尤其是亚洲内部以及中欧之间的贸易往来，预期将进一步增 强。 Salsa ...

Tesla, Inc. (TSLA) has officially introduced a new rear-wheel-drive (RWD) version of the Cybertruck in the United States and Mexico at $70,000. This new model is more expensive than the previously announced RWD model and lacks many features, but it offers increased range. Tesla confirmed that the vehicle comes with a single RWD motor and a driving range of 350 miles, more than the previously announced version with a range of 250 miles. This suggests that it likely uses the same battery pack as the Dual Moto ...

特斯拉连续两个月在欧洲销量跌幅超四成 继1月份在欧洲销量接近"腰斩"之后，特斯拉2月销量继续大幅度下滑。 根据欧洲汽车制造商协会的数据，刚刚过去的2月，特斯拉在欧洲注册16888辆新车，同比下降 40%。今年头两个月的销量暴跌43%，而整个行业电动汽车注册量增长31%。值得注意的是，特斯拉在 欧洲的销量过去12个月中有10个月下降。 从份额方面来看，特斯拉2月整体汽车市场份额降至1.8%（去年同期为2.8%），在纯电动车市场份 额缩水至10.3%（去年同期为21.6%） 特斯拉在欧洲多个国家出现了销量大跌的情况。尽管瑞典、挪威、丹麦三国包含电动汽车在内的整 体需求上升，今年2月，瑞典新注册登记机动车中特斯拉品牌同比减少42%，至613辆；在挪威，减少 48%，至917辆；在丹麦，也减少48%，至509辆。 进入2025年后，特斯拉在欧洲的市场表现开始陷入颓势。此前1月份的数据显示，特斯拉在欧盟、 欧洲自由贸易联盟和英国市场的新车注册量为9945辆，较去年同期的18161辆大跌45.2%。而当地市场1 月纯电动汽车销量同比增长37.4%，特斯拉的竞争对手大众、Stellantis等表现出色。 分析认为，特斯拉在 ...

Core Viewpoint - Yageo Group is determined to acquire Shibaura Electronics despite the latter's lack of consent, emphasizing the strategic importance of Shibaura's temperature sensor technology for AI and electric vehicle applications [1][3]. Group 1: Acquisition Rationale - Shibaura Electronics has excellent temperature sensor technology, crucial for AI and electric vehicle applications. However, 60% of its business is domestic in Japan, with only 6% of sales coming from major markets like Europe and the US [3]. - The largest portion of Shibaura's sales comes from home appliances, accounting for 44%, while automotive and industrial applications contribute minimally and are unlikely to see significant growth [3]. Group 2: Business Strategy Post-Acquisition - Yageo plans to leverage its global influence and existing customer base in advanced fields like AI and automotive to help Shibaura expand its business in Europe and the US [4]. - The strategy focuses on growth through investment and support rather than cost-cutting, aiming for a mutually beneficial relationship [4]. - Yageo intends to expand Shibaura's factories, similar to its previous acquisition of Tokin, where it invested in debt repayment and new factory construction [4]. Group 3: Market Environment and Timing - The decision to pursue the acquisition now is influenced by significant changes in the global business environment and Japanese regulations over the past three years, including geopolitical risks and economic downturns [5][6]. - Taiwan has emerged as a center for the AI industry, increasing the urgency for Yageo to act [6]. Group 4: Approach to Acquisition - Yageo is open to proceeding with a tender offer even without Shibaura's consent but hopes to demonstrate sincerity to gain their approval [7]. - The company has never conducted an unsolicited acquisition before but believes that adapting to the rapidly changing industry landscape is essential for future success [9].

Macro Economic Insights - U.S. Treasury Secretary Bessent stated that the 10-year Treasury yield should "naturally" decline, emphasizing the need for economic "privatization" through tariffs aimed at increasing industrial capacity and job creation[1] - Trump announced that Ukrainian President Zelensky is expected to visit the U.S. for an agreement, while Russia demands Ukraine's military surrender and territorial concessions as conditions for a ceasefire[1] - Copper prices surged over 3% as Trump ordered an investigation into U.S. copper imports, indicating potential tariffs due to national security concerns[1] Commodity Market Performance - Domestic commodity futures closed mostly lower, with crude oil down 2.19% and glass down 2.16%[2] - Basic metals saw declines, with aluminum down 1.21% and stainless steel down 0.91%[2] - Agricultural products also fell, with soybean meal down 1.34% and vegetable oil down 1.09%[2] Global Asset Performance Overview - NYMEX crude oil closed at $69.12, down 2.52% daily and 11.42% year-on-year[4] - LME copper closed at $9,395.00, down 1.13% daily but up 8.63% year-on-year[4] - COMEX gold closed at $2,928.60, down 1.36% daily but up 35.34% year-on-year[4] Bond Market Insights - The 10-year Chinese government bond yield is at 1.75%, down 0.57% daily and down 25.31% year-on-year[4] - The 10-year U.S. Treasury yield is at 4.40%, down 0.02% daily and up 0.30% year-on-year[4] - The China-U.S. interest rate differential stands at -2.65, reflecting a slight increase of 0.01%[4] Currency and Forex Trends - The U.S. Dollar Index is at 106.28, down 0.36% daily and up 3.25% year-on-year[4] - The offshore RMB is trading at 7.25 against the U.S. dollar, showing a minor increase of 0.01%[4] - The Euro to U.S. dollar exchange rate is at 1.05, up 0.44% daily but down 3.77% year-on-year[4]