本周要聞
Business
商業
Stockmarkets ended October on a positive note. But that was not enough to stop the month from being one of the worst for equities since the financial crisis. Markets were weighed down by investors’ jitters over rising interest rates, the slowing Chinese economy and uncertainty about global trade tensions. Some $5trn was wiped off the value of shares globally. The sell-off in tech shares was particularly brutal. The tech-heavy nasdaq index fell by 9% during October.
股市在10月份以一個積極的消息收尾。但這也無法阻止本月成為金融危機以來股市表現最差的月份之一。投資者對利率上升、中國經濟放緩以及全球貿易緊張局勢的不確定性感到不安,股市因此受到重創。全球股市市值損失了約5萬億美元。科技股的拋售尤其殘酷。10月份,以科技股為主的納斯達克指數下跌了9%。
America’s economy grew at an annualised rate of 3.5% in the third quarter, driven by a surge in consumer spending that compensated for weaker business investment. The second quarter chalked up growth of 4.2%, which makes this the economy’s best six-month performance since mid-2014.
美國經濟第三季度的年化增長率為3.5%,這是由于消費支出的激增抵消了商業投資的疲軟影響。第二季度的經濟增長率為4.2%,這是自2014年年中以來經濟表現最好的半年。

Economic growth in the euro zone slowed sharply in the third quarter, to 1.7%, year on year, compared with 2.2% in the previous three months. Inflation rose to 2.2%, the highest since December 2012.
歐元區經濟增長在第三季度大幅放緩,同比增長1.7%,而第二季度經濟增長為2.2%。通脹率升至2.2%,為2012年12月以來的最高水平。
Tensions surfaced between the government of India and the country’s central bank. The finance ministry has been putting pressure on the Reserve Bank of India to ease monetary policy and lending restrictions. The bank’s deputy governor warned of “catastrophic” consequences if the government tried to interfere with its independence.
印度政府和該國央行之間的緊張關系浮出水面。印度財政部一直在向印度央行施壓,要求其放寬貨幣政策和放貸限制。該行副行長警告稱,如果政府試圖干預該行的獨立性,將會承擔“災難性”后果。
The yuan hit its weakest point since the financial crisis, coming close to breaking the symbolic mark of seven yuan to the dollar. China’s central bank sets a daily peg around which the currency can trade. A weaker Chinese currency makes Chinese exports cheaper, a boon to Beijing in its battle to offset the Trump administration’s punitive tariffs.
人民幣匯率跌至金融危機以來的最低水平,接近1美元兌7元的象征性關口。中國央行設定了人民幣匯率每日浮動區間。人民幣貶值使中國出口產品更便宜,這對中國政府抵消特朗普政府懲罰性關稅的努力來說是一個好消息。

The main grievance behind those tariffs is America’s accusation that China is stealing technology secrets. This week the Commerce Department slapped a ban on American companies from supplying components to Fujian Jinhua, a Chinese chipmaker that is accused by Micron, an American rival, of intellectual-property theft. Similar American restrictions on zte brought that Chinese company to its knees earlier this year.
這些關稅背后的主要不滿是美國指責中國竊取技術機密。本周,美國商務部下令禁止美國公司向中國芯片制造商福建金華供應零部件。美國競爭對手美光科技公司指控福建金華竊取相關知識產權。年初,美國利用相似的限制令讓中國企業中興通訊屈服。
Investors breathed a sigh of relief after Facebook reported a solid quarter. Markets were keenly awaiting the social network’s earnings after a downbeat assessment it issued in July about its business wiped billions from its stockmarket value. Facebook made a net profit of $5.1bn in the third quarter on revenues of $13.7bn. Both figures were up from the comparable period last year, though the pace of growth was the slowest for some years.
Facebook公布了穩健的季度業績后,投資者松了一口氣。自該公司7月發布了一份悲觀的評估報告后,市場熱切地期盼著這家社交網絡公司的收益。這份評估報告顯示,該公司的業務導致其市值蒸發了數十億美元。Facebook第三季度實現凈利潤51億美元,營收137億美元。這兩份數據均高于去年同期,不過增速卻是幾年來最慢的。