The recent rally in China's stock markets, fueled by a series of stimulus measures, has significantly ignited investors' enthusiasm and bolstered market confidence in the country's economic recovery. 在中国股市，近期一系列刺激措施激发了投资者的热情，显著提振了市场对于经济复苏的信心。 The benchmark Shanghai Composite Index surged 8.03 percent to close at 3,335.44 points on Monday, while the Shenzhen Component Index soared 10.68 percent to reach 10,530.85 points at the close. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, skyrocketed 15.52 percent to close at 2,178.04 points.周一，上证综合指数大幅上涨8.03%，收于3335.44点；深证成指飙升10.68%，报收于10530.85点。跟踪中国纳斯达克风格创业板市场的创业板指暴涨15.52%，收盘报2178.04点。 Monday is the last trading day before the week-long National Day holiday. The Chinese stock markets will be closed Tuesday through Oct 7.周一是国庆节长假前最后一个交易日。中国股市将于周二至10月7日休市。 "Due to a rapid introduction of stimulus policies, with some clearly exceeding market expectations, the stock market has begun to show a noticeable upturn, attracting a broad base of investors," said Lou Feipeng, a researcher at China Postal Savings Bank.中国邮政储蓄银行研究员娄飞鹏表示：“由于刺激政策迅速出台，部分政策明显超出市场预期，股市已开始出现明显好转，吸引了广大投资者。” PROPERTY STOCK SURGE房地产股大涨 The combined turnover of the Shanghai and Shenzhen bourses surpassed 2.5 trillion yuan (about $356.76 billion) on Monday, reaching a historic high. Stock prices for property firms surged following an announcement by China's central bank on Sunday evening, asking commercial banks to reduce interest rates on existing mortgages by Oct 31. This directive is part of an extensive set of measures aimed at shoring up the country's struggling property sector.周一，沪深两市成交额超过2.5万亿元人民币（约合3567.6亿美元），创历史新高。周日晚，中国央行宣布要求商业银行在10月31日前下调存量房贷利率。这一指令是旨在支撑该国陷入困境的房地产行业的一系列广泛措施之一。 Also on Sunday, the major southern city of Guangzhou announced the removal of all home purchase restrictions, while Shanghai and Shenzhen have also taken steps to relax their buying curbs.同样在周日，南方大城市广州宣布全面取消限购政策，上海和深圳也采取措施放宽购房限制。 Lifted by the news, property shares rose across the board. Greenland Holdings, a leading property developer, surged by 10 percent to 2.08 yuan per share. Gemdale, another big developer, bounced 10 percent to close at 5.47 yuan.受消息提振，房地产板块全面上涨。龙头房企绿地控股股价大涨10%，报每股2.08元。另一家大型房企金地集团也上涨10%，收盘报5.47元。 BROADER STIMULUS EFFORTS更广泛的刺激措施 Last week, the government's financial authorities announced a broader-than-expected policy package to galvanize the economy's rebound.上周，政府金融部门宣布了一项超出市场预期的政策组合拳，以推动经济反弹。 These policy measures include reducing the reserve requirement ratio for banks and mortgage rates for existing homes, among others.这些政策措施包括下调银行存款准备金率和存量房贷利率等。 In a move especially beneficial for stocks, the central bank introduced two fresh tools to boost the capital market, one of which includes a swap program allowing funds, insurers and brokers easier access to funding in order to buy stocks.尤其有利于股市的是，央行推出了两项新工具来提振资本市场，其中之一是互换计划，该计划使基金、保险公司和券商更容易获得资金以购买股票。 Adding to efforts to firm up economic operation, the Political Bureau of the Communist Party of China Central Committee held a meeting on Thursday, which called for efforts to "boost the capital market and vigorously guide medium and long-term funds into the capital market."为巩固经济运行，中共中央政治局周四召开会议，要求“大力发展资本市场，积极引导中长期资金入市”。 "With the slew of policies taking effect, we believe the capital market has a solid foundation for more transactions and room for valuation increases," said Wang Yifeng, an analyst at Everbright Securities.光大证券分析师王一峰表示：“随着一系列政策生效，我们认为资本市场具备了更多交易和估值提升的坚实基础。” BULLISH SENTIMENT看涨情绪 This series of measures has stimulated the buying sentiment of investors both at home and abroad.这一系列措施激发了国内外投资者的买入情绪。 Billionaire David Tepper, widely considered as one of the most successful hedge-fund managers, said last week that he was going all-in on China after the announcement of these stimulus measures.被广泛认为是最成功的对冲基金经理之一的亿万富翁大卫·特珀上周表示，在这些刺激措施公布后，他将全力押注中国。 Bullish on all aspects of China, Tepper said that he will buy "everything" in China, including ETFs and futures.特珀对中国持全面看涨态度，他表示将在中国购买“一切”，包括交易所交易基金（ETF）和期货。 The continued net purchases of Chinese stocks by overseas capital are not only a positive endorsement of China's economic prospects but also a rational choice in the process of seeking high-quality investment opportunities.海外资本持续净买入中国股票，不仅是对中国经济前景的积极认可，也是在寻求高质量投资机会过程中的理性选择。 This trend also sends a positive signal to domestic investors, indicating the constantly growing appeal of Chinese stocks in the global capital market.这一趋势也向国内投资者发出了积极信号，表明中国股票在全球资本市场的吸引力不断增强。 As people rush to open their investment accounts, many brokers will have to work overtime during the National Day holiday, according to industry insiders.据业内人士称，随着人们争相开立投资账户，许多券商将在国庆假期期间加班。 "Capital is pouring into the market, there is a fear of missing out on this wave of the trend," said Zhou Maohua, a macroeconomic researcher at Everbright Bank.光大银行宏观经济研究员周茂华表示：“资金正在涌入市场，人们担心错过这波趋势。” Japan's Prime Minister Fumio Kishida resigned with his Cabinet on Tuesday, paving the way for his likely successor Shigeru Ishiba to take office.日本首相岸田文雄及其内阁于周二辞职，为其可能的继任者石破茂上任铺平道路。 Kishida took office in 2021 but is leaving so his party can have a fresh leader after his government was dogged by scandals. Ishiba plans to call a parliamentary election for Oct. 27 after he is formally chosen as prime minister later in the day.岸田于2021年上任，但因政府丑闻缠身而离职，以便其政党能有一位新领导人。石破茂计划在当天晚些时候被正式选为首相后，于10月27日召集议会选举。 "I believe it is important to have the new administration get the public's judgment as soon as possible," Ishiba said Monday in announcing his plan to call a snap election. Opposition parties criticized Ishiba for allowing only a short period of time for his policies to be examined and discussed in parliament before the vote.石破茂在周一宣布计划举行提前选举时表示：“我认为重要的是让新政府尽快接受公众的评判。”反对党批评石破茂只允许在投票前短时间内让议会审查和讨论其政策。 Ishiba was chosen as the governing Liberal Democratic Party's leader on Friday to replace Kishida, who announced in August he would resign at the end of his three-year term.石破茂于周五被选为执政党自由民主党（简称“自民党”）领导人，接替岸田，后者于8月宣布将在三年任期结束时辞职。 Ishiba is assured of becoming prime minister later Tuesday in a vote by parliament because it is dominated by his party's ruling coalition. Kishida and his ministers stepped down at a Cabinet meeting in the morning, Chief Cabinet Secretary Yoshimasa Hayashi said.由于议会由石破茂所在政党的执政联盟主导，他周二晚些时候将在议会投票中顺利成为首相。岸田及其内阁大臣们在上午的内阁会议上辞职，内阁官房长官松野博一表示。 Hayashi, who is Kishida's top confidante, said the world has high expectations for Japan's diplomatic role, noting a deepening global divide over Russia's war in Ukraine and the conflict in the Middle East. "We hope the next administration will pursue an active and powerful diplomacy while placing importance on (Japan's) main pillars such as achieving a free and open Indo-Pacific," Hayashi said.松野是岸田最信赖的助手，他指出，全球在俄罗斯乌克兰战争和中东冲突等问题上分歧加剧，世界对日本的外交角色寄予厚望。“我们希望下一届政府能在重视（日本的）主要支柱，如实现自由开放的印太地区的同时，推行积极有力的外交政策，”松野说。 Ishiba earlier announced his party's leaders ahead of naming his Cabinet, once he becomes prime minister. Former Environment Minister Shinjiro Koizumi, who came in third in the party leadership race, will head the party's election task force. He is expected to name defense experts Takeshi Iwaya as foreign minister and Gen Nakatani as defense chief.石破茂在任命内阁大臣前，先宣布了党内领导人名单。在党内领导人竞选中排名第三的前环境大臣小泉进次郎将领导党内的选举专责小组。预计他将任命防卫专家岩屋毅为外务大臣，中谷元为防卫大臣。 The majority of his Cabinet ministers, like Ishiba, are expected to be unaffiliated with factions led and controlled by party heavyweights, and none are from former Prime Minister Shinzo Abe's powerful group linked to damaging scandals.预计他的内阁大臣中，像石破茂一样，大多数人将不隶属于由党内重量级人物领导和控制的派系，且无人来自因丑闻缠身而声名狼藉的前首相安倍晋三的强大派系。 Ishiba's lack of stable power base could also mean a fragility of his government, and "could quickly collapse" even though Ishiba hopes to build up party unity as it prepares for the upcoming election, the liberal-leaning Asahi newspaper said.《朝日新闻》称，石破茂缺乏稳定的权力基础也可能意味着其政府脆弱，并“可能迅速崩溃”，尽管他希望建立党内团结，为即将到来的选举做准备。 The move is also seen as a revenge by Ishiba, who was largely pushed to the side during most of Abe's reign.此举也被视为石破茂的报复之举，在安倍执政的大部分时间里，他基本上被排挤在一边。 Ishiba has proposed an Asian version of the NATO military alliance and more discussion among regional partners about the use of the U.S. nuclear deterrence. He also suggested a more equal Japan-U.S. security alliance, including joint management of U.S. bases in Japan and having Japanese Self Defense Force bases in the United States.石破茂提议建立亚洲版北约军事联盟，并加强地区伙伴之间关于美国核威慑使用的讨论。他还建议建立更平等的日美安全联盟，包括共同管理美国在日本的基地，以及在日本设立日本自卫队基地。 Ishiba outlined his views in an article to the Hudson Institute last week. "The absence of a collective self-defense system like NATO in Asia means that wars are likely to break out because there is no obligation for mutual defense. Under these circumstances, the creation of an Asian version of NATO is essential to deter China by its Western allies," he wrote.石破茂上周在哈德逊研究所发表的一篇文章中概述了他的观点。“亚洲没有像北约那样的集体自卫体系，意味着战争很可能爆发，因为没有相互防卫的义务。在这种情况下，创建亚洲版北约对于通过西方盟友威慑中国至关重要，”他写道。 Ishiba proposes combining of existing security and diplomatic groupings, such as the Quad and other bilateral and multilateral frameworks involving the United States, Australia, New Zealand, South Korea and the Philippines.石破茂提议将现有的安全和外交集团，如四方安全对话和其他涉及美国、澳大利亚、新西兰、韩国和菲律宾的双边及多边框架结合起来。 He pledged to continue Kishida's economic policy aimed at pulling Japan out of deflation and achieving real salary increases, while tackling challenges such as Japan's declining birthrate and population and resilience to natural disasters.他承诺将继续实施岸田的经济政策，旨在使日本摆脱通货紧缩并实现实际薪资增长，同时解决日本出生率下降、人口减少以及增强对自然灾害的抵御能力等挑战。 The LDP has had a nearly unbroken tenure governing Japan since World War II. The party members may have seen Ishiba's more centrist views as crucial in pushing back challenges by the liberal-leaning opposition and winning voter support as the party reels from corruption scandals that drove down Kishida's popularity.自民党自二战以来几乎不间断地统治着日本。自民党成员可能认为石破茂更加中立的观点对于击退自由派反对派的挑战和赢得选民支持至关重要，因为该党正因腐败丑闻而声誉受损，岸田的人气也因此下降。 Ishiba, first elected to parliament in 1986, has served as defense minister, agriculture minister and in other key Cabinet posts, and was LDP secretary general under Abe.石破茂于1986年首次当选议员，曾担任防卫大臣、农林水产大臣和其他重要内阁职位，并在安倍任下担任自民党干事长。并担任安倍领导下的自民党秘书长。 素材来源：iYuba