<p>1 月 9 日（路透社）- 截至 1 月 7 日的一周，全球股票基金录得三周以来的首次周净流出，因投资者因地缘政治担忧、美国利率不确定性和高估值，尤其是美国股票，削减风险。</p>
<p>LSEG Lipper 数据显示，全球投资者从股票基金中净撤回 60.7 亿美元，这是自 12 月 17 日以来首次周净流出，主要是由于美国股票基金的大规模抛售。</p>
<p>投资者对美联储在软化的劳动力市场与仍然高企的通胀之间的平衡感到谨慎，表明在上个月降息后，借贷成本在短期内不太可能进一步下降。</p>
<p>对高估值的担忧继续对一些科技股施加压力，进一步打击投资者情绪。英伟达（NVDA.O）本周迄今下跌约 2.0%，而博通（AVGO.O）则下跌约 4.4%。</p>
<p>与此同时，投资者向欧洲股票基金注入了 119.8 亿美元，这是自 2025 年 5 月以来的最大周流入。亚洲基金也录得净购买 45.2 亿美元。</p>
<p>货币市场基金本周见证了 1612.7 亿美元的净购买，为 2024 年 12 月以来的最大周流入。</p>
<p>债券基金在经历了上周微幅的 8.65 亿美元流出后，本周吸引了 170 亿美元。</p>
<p>短期债券基金获得了 47.7 亿美元，基本上弥补了前一周的 48.9 亿美元流出。企业债券和以欧元计价的债券基金分别也录得 15 亿美元和 13.3 亿美元的净购买。</p>
<p>瑞银全球财富管理首席投资官马克·哈费尔（Mark Haefele）表示：“虽然较低的利率可能意味着收入机会变得稀缺，但优质债券仍应继续在收益和多样化的来源中发挥重要作用，以及其他提升收入的策略。”</p>
<p>黄金和贵金属商品基金本周录得 2.68 亿美元的温和流出，结束了连续八周的净流入。</p>
<p>涵盖 28606 只新兴市场基金的数据表明，投资者向股票基金注入了 31.6 亿美元，为六周以来的最高水平，并向债券基金再增加了 11 亿美元。</p>
<p>资金流动：全球股票、债券和货币市场</p>
<p><img src="https://imageproxy.pbkrs.com/https://reut.rs/4g5IBBw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1600" height="876" original-src="https://imageproxy.pbkrs.com/https://reut.rs/4g5IBBw"/></p>
<p>流入全球债券基金的周流动</p>
<p><img src="https://imageproxy.pbkrs.com/https://reut.rs/467jIkm?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1680" height="758" original-src="https://imageproxy.pbkrs.com/https://reut.rs/467jIkm"/></p>
<p>资金流动：新兴市场股票和债券</p>
<p><img src="https://imageproxy.pbkrs.com/https://reut.rs/42e4by0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1600" height="890" original-src="https://imageproxy.pbkrs.com/https://reut.rs/42e4by0"/></p>

<p>全球股票基金在三周内首次出现资金流出，净撤回金额为 60.7 亿美元，原因是地缘政治担忧和美国利率不确定性。投资者表现出谨慎，特别是对美国股票的态度，而欧洲股票基金则吸引了 119.8 亿美元的资金流入，为 2025 年 5 月以来的最高水平。货币市场基金吸引了 1612.7 亿美元，债券基金获得了 170 亿美元的资金。黄金和贵金属基金面临轻微的 2.68 亿美元流出，结束了连续八周的资金流入。新兴市场股票基金获得了 31.6 亿美元的资金流入，标志着六周以来的最大流入</p>

<p>Jan 9 (Reuters) - Global equity funds recorded their first weekly outflow in three weeks in the week through January 7 as investors trimmed risk on geopolitical concerns, U.S. rate uncertainty and stretched valuations, especially in U.S. stocks.</p>
<div class="lb-trans"><p>1 月 9 日（路透社）- 截至 1 月 7 日的一周，全球股票基金录得三周以来的首次周净流出，因投资者因地缘政治担忧、美国利率不确定性和高估值，尤其是美国股票，削减风险。</p>
</div><p>LSEG Lipper data showed that global investors withdrew a net $6.07 billion from equity funds, the first weekly net outflow since December 17, driven largely by massive sales in U.S. equity funds.</p>
<div class="lb-trans"><p>LSEG Lipper 数据显示，全球投资者从股票基金中净撤回 60.7 亿美元，这是自 12 月 17 日以来首次周净流出，主要是由于美国股票基金的大规模抛售。</p>
</div><p>Investors are wary as the Federal Reserve balances a softening labour market against still-elevated inflation, signalling after last month’s rate cut that borrowing costs are unlikely to fall further in the near term.</p>
<div class="lb-trans"><p>投资者对美联储在软化的劳动力市场与仍然高企的通胀之间的平衡感到谨慎，表明在上个月降息后，借贷成本在短期内不太可能进一步下降。</p>
</div><p>Concerns over elevated valuations continued to weigh on some technology stocks, further dampening investor sentiment. Nvidia (NVDA.O) is down about 2.0% so far this week, while Broadcom (AVGO.O) has fallen roughly 4.4%.</p>
<div class="lb-trans"><p>对高估值的担忧继续对一些科技股施加压力，进一步打击投资者情绪。英伟达（NVDA.O）本周迄今下跌约 2.0%，而博通（AVGO.O）则下跌约 4.4%。</p>
</div><p>Investors, meanwhile, pumped $11.98 billion into European equity funds, the biggest amount for a week since May 2025. Asian funds also saw a net $4.52 billion net purchase.</p>
<div class="lb-trans"><p>与此同时，投资者向欧洲股票基金注入了 119.8 亿美元，这是自 2025 年 5 月以来的最大周流入。亚洲基金也录得净购买 45.2 亿美元。</p>
</div><p>Money market funds witnessed $161.27 billion worth of weekly net purchase, the largest for a week since December 2024.</p>
<div class="lb-trans"><p>货币市场基金本周见证了 1612.7 亿美元的净购买，为 2024 年 12 月以来的最大周流入。</p>
</div><p>Bond funds attracted $17 billion during the week after a marginal $865 million outflow, a week ago.</p>
<div class="lb-trans"><p>债券基金在经历了上周微幅的 8.65 亿美元流出后，本周吸引了 170 亿美元。</p>
</div><p>Short-term bond funds received $4.77 billion, broadly recovering a net $4.89 billion outflow in the prior week. Corporate and Euro denominated bond funds also saw $1.5 billion and $1.33 billion worth of net purchases, respectively.</p>
<div class="lb-trans"><p>短期债券基金获得了 47.7 亿美元，基本上弥补了前一周的 48.9 亿美元流出。企业债券和以欧元计价的债券基金分别也录得 15 亿美元和 13.3 亿美元的净购买。</p>
</div><p>“While lower rates may mean income opportunities are becoming scarce, quality bonds should continue to play an important role as a source of yield and diversification, among other strategies to boost income,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.</p>
<div class="lb-trans"><p>瑞银全球财富管理首席投资官马克·哈费尔（Mark Haefele）表示：“虽然较低的利率可能意味着收入机会变得稀缺，但优质债券仍应继续在收益和多样化的来源中发挥重要作用，以及其他提升收入的策略。”</p>
</div><p>Gold and precious metals commodity funds recorded a modest weekly outflow of $268 million, ending an eight-week streak of net inflows.</p>
<div class="lb-trans"><p>黄金和贵金属商品基金本周录得 2.68 亿美元的温和流出，结束了连续八周的净流入。</p>
</div><p>Data covering 28,606 emerging market funds showed that investors poured $3.16 billion into equity funds, the most in six weeks, and added a further $1.1 billion to bond funds.</p>
<div class="lb-trans"><p>涵盖 28606 只新兴市场基金的数据表明，投资者向股票基金注入了 31.6 亿美元，为六周以来的最高水平，并向债券基金再增加了 11 亿美元。</p>
</div><p>Fund flows: Global equities, bonds and money markets</p>
<div class="lb-trans"><p>资金流动：全球股票、债券和货币市场</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://reut.rs/4g5IBBw" alt="" original-src="https://reut.rs/4g5IBBw"/></p>
<p>Weekly flows into global bond funds</p>
<div class="lb-trans"><p>流入全球债券基金的周流动</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://reut.rs/467jIkm" alt="" original-src="https://reut.rs/467jIkm"/></p>
<p>Fund flows: EM equities and bonds</p>
<div class="lb-trans"><p>资金流动：新兴市场股票和债券</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://reut.rs/42e4by0" alt="" original-src="https://reut.rs/42e4by0"/></p>

图表显示全球股票基金结束了连续三周的资金流入趋势