<ul><li>投資者靜觀其變，伊朗稱將審議美國提議</li></ul><ul><li>股市方向不明，美元守住漲幅</li></ul><ul><li>市場仍擔心能源價格衝擊</li></ul><p>作者 Ankur Banerjee</p><p>新加坡，3 月 26 日（路透社）- 亞洲股市在方向不明的情況下掙扎，而美元週四持堅，因為投資者在中東緊張局勢下謹慎行事。伊朗表示將權衡美國結束海灣衝突的提議。</p><p>不斷升級的戰爭衝擊了全球市場，導致油價飆升，重新點燃通脹擔憂，並擾亂了全球利率預期。</p><p>亞洲早盤交易喜憂參半，日本日經指數（.N225）上漲 0.6%，而韓國股市（.KS11）下跌 1.2%。MSCI 除日本以外亞太地區股票指數（.MIAPJ0000PUS）小幅下跌 0.23%，本月有望下跌 8.7%，為 2022 年 10 月以來最大月度跌幅。</p><p>美元持穩於近期高位附近，本月有望上漲 2%，鞏固了其作為市場首選避險資產的地位。</p><p>伊朗的最新表態表明，德黑蘭方面若能滿足其要求，則願意就結束戰爭進行談判。美國向伊朗發送了一項 15 項條款的停火提議，該提議最初被伊朗官員駁回。</p><p>Pepperstone 研究主管 Chris Weston 表示：“雖然頭條新聞顯示出更具建設性的基調，但市場仍不確定應信任和採取哪些信號。”</p><p>“價格走勢表明，即使達成談判結果的可能性有所提高，市場參與者也預計會發生更多波折。”</p><p>始於二月下旬美以聯合對伊朗的打擊而引發的近一個月的戰爭，已有效關閉了霍爾木茲海峽，這是全球石油和液化天然氣供應的五分之一的通道。</p><p>此次中斷已將價格推高至每桶 100 美元以上。布倫特原油期貨（LCOc1）報每桶 103.35 美元，日漲 1%，本月有望上漲 42%。</p><p>Allspring Global Investments 的高級投資組合經理兼多資產團隊負責人 Matthias Scheiber 表示：“如果我們審視美國、以色列和德黑蘭各自的訴求，將很難調和所有這些觀點。”</p><p>“我們仍然認為，目前有理由看好結構性更高的能源價格。”</p><p>對能源價格飆升引發通脹後果的擔憂，已促使交易員們消化掉今年美聯儲降息的可能性，從而推高了美元。對美國加息的押注曾一度獲得關注，但隨後已被削減。</p><p>歐洲央行行長克里斯蒂娜·拉加德週三表示，如果中東戰爭在一段時間內推高該地區通脹，歐洲央行可能會考慮加息。</p><p>拉加德在法蘭克福表示：“如果衝擊導致通脹目標出現較大但不過於持久的超調，那麼一些有針對性的政策調整可能是值得的。”</p><p>歐元（EUR=）小幅變動，報 1.1562 美元，而英鎊（GBP=）報 1.3358 美元。日元（JPY=）徘徊在 159.43 兑美元，守住了交易員視為可能干預的 160 的關口。</p><p>在商品方面，黃金（XAU=）上漲 0.66%，報每盎司 4,537 美元，但本月大部分時間呈下跌趨勢，預計將下跌 14%，這是自 2008 年 10 月以來最嚴重的月度跌幅。</p>

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<ul>
<li>Investors sit tight as Iran says to review U.S. proposal</li>
</ul>
<div class="lb-trans"><ul>
<li>投資者靜觀其變，伊朗稱將審議美國提議</li>
</ul></div><ul>
<li>Stocks struggle for direction, dollar hangs on to gains</li>
</ul>
<div class="lb-trans"><ul>
<li>股市方向不明，美元守住漲幅</li>
</ul></div><ul>
<li>Markets remain worried about energy price shocks</li>
</ul>
<div class="lb-trans"><ul>
<li>市場仍擔心能源價格衝擊</li>
</ul></div><p>By Ankur Banerjee</p>
<div class="lb-trans"><p>作者 Ankur Banerjee</p></div><p>SINGAPORE, March 26 (Reuters) - Asian stocks struggled for direction while the dollar held firm on Thursday as investors treaded cautiously amid dizzying developments in the Middle East, where Iran said it would weigh a U.S. proposal to end the Gulf conflict.</p>
<div class="lb-trans"><p>新加坡，3 月 26 日（路透社）- 亞洲股市在方向不明的情況下掙扎，而美元週四持堅，因為投資者在中東緊張局勢下謹慎行事。伊朗表示將權衡美國結束海灣衝突的提議。</p></div><p>The widening war has jolted global markets, sending oil prices soaring, reigniting inflation fears and scrambling global rate expectations.</p>
<div class="lb-trans"><p>不斷升級的戰爭衝擊了全球市場，導致油價飆升，重新點燃通脹擔憂，並擾亂了全球利率預期。</p></div><p>It was a mixed picture in Asia in early trading with Japan’s Nikkei (.N225) up 0.6% while South Korean stocks (.KS11) were down 1.2%. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.23% lower, set for a 8.7% decline in the month, its biggest monthly drop since October 2022.</p>
<div class="lb-trans"><p>亞洲早盤交易喜憂參半，日本日經指數（.N225）上漲 0.6%，而韓國股市（.KS11）下跌 1.2%。MSCI 除日本以外亞太地區股票指數（.MIAPJ0000PUS）小幅下跌 0.23%，本月有望下跌 8.7%，為 2022 年 10 月以來最大月度跌幅。</p></div><p>The dollar held firm near recent highs and was on track for a 2% monthly gain, cementing its status as the markets’ preferred safe haven.</p>
<div class="lb-trans"><p>美元持穩於近期高位附近，本月有望上漲 2%，鞏固了其作為市場首選避險資產的地位。</p></div><p>The latest comments by Iran suggested some willingness by Tehran to negotiate an end to the war if its demands were met. The U.S. sent a 15-point ceasefire proposal to Iran that was originally brushed aside by Iranian officials.</p>
<div class="lb-trans"><p>伊朗的最新表態表明，德黑蘭方面若能滿足其要求，則願意就結束戰爭進行談判。美國向伊朗發送了一項 15 項條款的停火提議，該提議最初被伊朗官員駁回。</p></div><p>“While the headline flow points to a more constructive tone, markets remain unsure which signals to trust and act upon,” Chris Weston, head of research at Pepperstone, said.</p>
<div class="lb-trans"><p>Pepperstone 研究主管 Chris Weston 表示：“雖然頭條新聞顯示出更具建設性的基調，但市場仍不確定應信任和採取哪些信號。”</p></div><p>“Price action suggests participants expect further twists and turns, even as the probability of a negotiated outcome edges higher.”</p>
<div class="lb-trans"><p>“價格走勢表明，即使達成談判結果的可能性有所提高，市場參與者也預計會發生更多波折。”</p></div><p>The near month-long war triggered by joint U.S.–Israeli strikes on Iran in late February has effectively shut the Strait of Hormuz, a conduit for a fifth of global oil and liquefied natural gas flows.</p>
<div class="lb-trans"><p>始於二月下旬美以聯合對伊朗的打擊而引發的近一個月的戰爭，已有效關閉了霍爾木茲海峽，這是全球石油和液化天然氣供應的五分之一的通道。</p></div><p>The disruption has sent prices surging above $100 per barrel. Brent crude futures (LCOc1) were at $103.35 per barrel, up 1% on the day, and set for a 42% jump in the month.</p>
<div class="lb-trans"><p>此次中斷已將價格推高至每桶 100 美元以上。布倫特原油期貨（LCOc1）報每桶 103.35 美元，日漲 1%，本月有望上漲 42%。</p></div><p>“If you look at what the U.S. wants to achieve, what Israel wants to achieve, and what Tehran wants to achieve, it will be very hard to reconcile all these points,” said Matthias Scheiber, senior portfolio manager and the head of the Multi Asset team at Allspring Global Investments.</p>
<div class="lb-trans"><p>Allspring Global Investments 的高級投資組合經理兼多資產團隊負責人 Matthias Scheiber 表示：“如果我們審視美國、以色列和德黑蘭各自的訴求，將很難調和所有這些觀點。”</p></div><p>“We still think there is a case to make for structurally higher energy prices for the moment.”</p>
<div class="lb-trans"><p>“我們仍然認為，目前有理由看好結構性更高的能源價格。”</p></div><p>Fears of an inflationary aftershock from soaring energy prices have pushed traders to price out any chance of a Federal Reserve rate cut this year, lifting the dollar. Bets on U.S. rate hikes briefly gained traction but have since been pared back.</p>
<div class="lb-trans"><p>對能源價格飆升引發通脹後果的擔憂，已促使交易員們消化掉今年美聯儲降息的可能性，從而推高了美元。對美國加息的押注曾一度獲得關注，但隨後已被削減。</p></div><p>European Central Bank President Christine Lagarde opened the door on Wednesday to raising interest rates in the euro zone if war in the Middle East pushes up inflation in the region for some time.</p>
<div class="lb-trans"><p>歐洲央行行長克里斯蒂娜·拉加德週三表示，如果中東戰爭在一段時間內推高該地區通脹，歐洲央行可能會考慮加息。</p></div><p>“If the shock gives rise to a large though not-too-persistent overshoot of our target, some measured adjustment of policy could be warranted,” Lagarde said in Frankfurt.</p>
<div class="lb-trans"><p>拉加德在法蘭克福表示：“如果衝擊導致通脹目標出現較大但不過於持久的超調，那麼一些有針對性的政策調整可能是值得的。”</p></div><p>The euro (EUR=) was little changed at $1.1562, while sterling (GBP=) bought $1.3358. The yen (JPY=) hovered at 159.43 per dollar, clinging to the closely watched 160 level that traders see as a potential trigger for intervention.</p>
<div class="lb-trans"><p>歐元（EUR=）小幅變動，報 1.1562 美元，而英鎊（GBP=）報 1.3358 美元。日元（JPY=）徘徊在 159.43 兑美元，守住了交易員視為可能干預的 160 的關口。</p></div><p>In commodities, gold (XAU=) was 0.66% higher at $4,537 per ounce, but has largely sold off this month and is on course for a 14% drop in the month, its steepest fall since October 2008.</p>
<div class="lb-trans"><p>在商品方面，黃金（XAU=）上漲 0.66%，報每盎司 4,537 美元，但本月大部分時間呈下跌趨勢，預計將下跌 14%，這是自 2008 年 10 月以來最嚴重的月度跌幅。</p></div>

全球市場 - 中東停火談判成為焦點，股市岌岌可危