中國製造業數據疲弱影響市場情緒

Sluggish manufacturing data from China as well as renewed weakness of the renminbi weighed on commodity prices, fuelling concerns over the country’s demand for raw materials.

中國製造業數據疲弱以及人民幣再次貶值令大宗商品價格承壓，加劇了人們對中國原材料需求的擔憂。

Further evidence of slowing growth in China’s manufacturing sector unnerved investors, who had been hoping that the latest stimulus measures would help reboot activity in the second quarter.

表明中國製造業增長放緩的進一步證據讓投資者感到不安，此前投資者希望最新刺激舉措將有助於激活第二季度的製造業活動。

The unofficial Caixin purchasing managers’ index, which provides a snapshot of operating conditions in the country’s industrial sector, fell to 49.2 in May, slightly lower than the previous month, and below the neutral 50 level for the 15th successive month.

非官方的財新(Caixin)採購經理人指數5月降至49.2，略低於4月，而且連續第15個月低於50的臨界值。該指數提供有關中國工業部門運營狀況的“快照”。

The continuing downward trend in payroll numbers at Chinese manufacturers “indicated a solid rate of job shedding”, according to Caixin — adding to the negative sentiment.

財新表示，中國製造業就業人數持續下降的趨勢“表明用工規模持續壓縮”，這加劇了人們的負面情緒。

Analysts said that the recent decline of the renminbi was also unsettling investors, since the fall in the currency reduced the dollar price that importers were willing to pay for commodities.

分析師表示，最近人民幣貶值也讓投資者感到擔憂，因爲它降低了進口商願意爲大宗商品支付的美元價格。

The renminbi suffered its largest monthly fall in May since its devaluation last August, down 1.6 per cent against the dollar.

人民幣在5月出現自去年8月貶值以來最大單月跌幅，兌美元匯率下跌1.6%。

The currency’s weakness, with the dollar trading at about Rmb6.575, has raised speculation that Beijing might be eyeing another devaluation.

人民幣兌美元匯率大約爲1美元兌6.575元人民幣，這種疲弱令人猜測中國政府可能考慮讓人民幣再次貶值。

Industrial metals retreated, with copper for three-month delivery on the London Metal Exchange down 1.6 per cent to $4.579 a tonne and lead falling 1.4 per cent to $1.669.50 a tonne.

工業金屬價格下跌，倫敦金屬交易所(LME)的3個月期銅下跌1.6%，至每噸4579美元，期鉛下跌1.4%，至每噸1669.50美元。

Oil lost more than 2 per cent, declining $1.11 to 48.78 a barrel, while iron ore fell almost 1 per cent to $49.30 a tonne. In agricultural commodities, Chicago Board of Trade July soyabeans slipped 0.6 per cent to $10.72½ a bushel.

原油下跌1.11美元，至每桶48.78美元，跌幅逾2%，同時鐵礦石下跌近1%，至每噸49.30美元。在農產品方面，芝加哥期貨交易所(Chicago Board of Trade)的7月大豆期貨下跌0.6%，至每蒲式耳10.725美元。

Some economists said the impact of the Chinese government’s economic stimulus measures had yet to become apparent. “If you were hoping that the second quarter and beyond would be stronger, so far the evidence is against you,” said Julian Jessop, head of commodity research at Capital Economics.

一些經濟學家表示，中國政府經濟刺激舉措的影響迄今仍不明顯。凱投宏觀(Capital Economics)的大宗商品研究主管朱利安•傑瑟普(Julian Jessop)表示：“如果你期待第二季度及以後將會更加強勁，迄今爲止的證據不支持你的期待。”

Meanwhile, analysts at BMI Research forecast real gross domestic product growth to slow to 6.3 per cent in 2016, compared with 6.9 per cent in 2015, because of the “ongoing rebalancing of China’s economy”.

與此同時，BMI Research的分析師們預計，由於“中國經濟持續再平衡”，2016年實際GDP增長將放緩至6.3%，而2015年該數據爲6.9%。

“Structural weaknesses and the government’s difficulties in addressing them will continue to place a drag on economic activity,” BMI said.

BMI表示：“結構性疲弱以及政府在應對這些疲弱方面的困難，將繼續拖累經濟活動。”