纳斯达克12月6日起延长交易，华尔街开进亚洲时段，香港交易所
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:00 | Welcome to the deep dive. | 欢迎来到深潜 |
| 0:01 | So I want you to think about the stock market like a giant global supermarket for a second. | 所以我希望你考虑一下股票市场 像一个巨大的全球超市一秒钟。 |
| 0:06 | Okay, a supermarket. | 好吧,超级市场。 |
| 0:08 | Right. | 对 |
| 0:08 | I mean sure that makes sense, right? | 我的意思是肯定 这有道理,对不对? |
| 0:10 | So imagine the American supermarket suddenly decides to stay open almost 24 hours a day. | 所以想象一下美国超市突然决定每天几乎24小时开放. |
| 0:16 | Oh, wow. | 哦,哇呜。 |
| 0:16 | Yeah, and it is sitting right across the street from the Asian supermarket. | 是的,它正坐在街对面 亚洲超市。 |
| 0:20 | What happens to the Asian store? | 亚洲商店怎么了? |
| 0:22 | Well, hey people just walk across the street. | 嘿,人们只是走过街。 |
展开字幕全文（369 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | Welcome to the deep dive. | 欢迎来到深潜 |
| 2 | So I want you to think about the stock market like a giant global supermarket for a second. | 所以我希望你考虑一下股票市场 像一个巨大的全球超市一秒钟。 |
| 3 | Okay, a supermarket. | 好吧,超级市场。 |
| 4 | Right. | 对 |
| 5 | I mean sure that makes sense, right? | 我的意思是肯定 这有道理,对不对? |
| 6 | So imagine the American supermarket suddenly decides to stay open almost 24 hours a day. | 所以想象一下美国超市突然决定每天几乎24小时开放. |
| 7 | Oh, wow. | 哦,哇呜。 |
| 8 | Yeah, and it is sitting right across the street from the Asian supermarket. | 是的,它正坐在街对面 亚洲超市。 |
| 9 | What happens to the Asian store? | 亚洲商店怎么了? |
| 10 | Well, hey people just walk across the street. | 嘿,人们只是走过街。 |
| 11 | That is a huge problem for them. | 这对他们来说是一个巨大的问题。 |
| 12 | Exactly. | 没错 |
| 13 | And this is basically what is happening to global money right now. | 这基本上就是全球资金目前的情况。 |
| 14 | It really is. | 没错 |
| 15 | The American stock market is about to lose its sleep schedule completely. | 美国股市即将完全失眠. |
| 16 | We are looking at a really interesting article today. | 我们今天正在看一篇很有趣的文章。 |
| 17 | It is from the South China Morning Post from November 2026. | "南华早报"2026年11月刊载. |
| 18 | Yeah, our mission today is to help you understand this historic change. | 是的,我们今天的任务是 帮助你理解这个历史性的变化。 |
| 19 | We want to figure out what this means for your money and why the city of Hong Kong is right on the front lines here. | 我们想弄清楚这对你们来说意味着什么 香港市为什么就站在前线 |
| 20 | They are definitely on the front lines. | 他们肯定在前线 |
| 21 | So let us look at the exact details first. | 因此,让我们先看看确切的细节。 |
| 22 | Right. | 对 |
| 23 | So starting December 6th, 2026, the NASDAQ is making a huge move. | 因此,从2026年12月6日开始,纳斯达克号正在进行一个巨大的动作. |
| 24 | The NASDAQ is a major U.S. stock exchange, just to be clear. | 纳斯达克是一个主要的美国证券交易所,只是要明确. |
| 25 | Yes, exactly. | 没错 |
| 26 | They are extending their trading to almost 23 hours a day. | 他们每天将交易时间延长到近23小时。 |
| 27 | 23 hours. | 23小时。 |
| 28 | That is just it is almost nonstop. | 这只是它几乎是不间断的。 |
| 29 | It is. | 没错 |
| 30 | They are opening a new overnight trading window. | 他们正在打开一个新的交易窗口 |
| 31 | It runs from 9 p.m. to 4 a.m. in New York. | 纽约从晚上9时至凌晨4时。 |
| 32 | And that timing is critical. | 时机很关键 |
| 33 | Think about the time zones. | 想想时区. |
| 34 | Right. | 对 |
| 35 | 9 p.m. to 4 a.m. in New York matches up exactly with 10 a.m. to 5 p.m. in Beijing and Hong Kong. | 纽约9时至4时与北京和香港的上午10时至下午5时完全吻合。 |
| 36 | So the American night shift happens during the normal Asian day. | 因此,美国的夜班发生在正常的亚洲白天. |
| 37 | Exactly. | 没错 |
| 38 | Got it. | 明白吗? |
| 39 | The U.S. Securities and Exchange Commission actually approved this back in April. | 美国证券交易委员会在4月份实际上批准了这个计划. |
| 40 | They're the government agency that makes the rules for U.S. markets. | 他们是为美国市场制定规则的政府机构. |
| 41 | Right. | 对 |
| 42 | And they approved it because, well, the NASDAQ said investors in Asia really want this. | 他们同意了 因为纳斯达克说亚洲的投资者真的希望这样 |
| 43 | They want to buy American stocks during their own daytime. | 他们想在白天买美国股票 |
| 44 | Yes. | 对 |
| 45 | If you live in Asia, you do not want to stay up until midnight just to buy shares of a U.S. | 如果你住在亚洲, 你不会想一直呆到午夜 只是为了买美国的股份。 |
| 46 | computer company. | 电脑公司。 |
| 47 | That makes total sense. | 这是完全合理的。 |
| 48 | You want to trade during your normal working hours. | 你想在正常工作时间进行交易。 |
| 49 | You do. | 没错 |
| 50 | But this creates a very specific headache for Hong Kong. | 不过这给香港造成了非常特别的头痛. |
| 51 | Why just Hong Kong? | 为什么只有香港? |
| 52 | I mean, the article says mainland China does not have the same problem. | 我的意思是,文章说中国大陆没有同样的问题. |
| 53 | They do not. | 他们没有。 |
| 54 | And it comes down to a term called capital controls. | 它下面是一个叫资本控制的术语。 |
| 55 | OK, we need to explain that one in plain English. | 好吧,我们需要解释 一个简单的英语。 |
| 56 | What are capital controls? | 什么是资本控制? |
| 57 | Capital controls are basically strict government rules. | 资本管制基本上是严格的政府规则。 |
| 58 | They stop people from moving their money to other countries. | 他们阻止人们把钱转移到其他国家. |
| 59 | So it is like a tall fence around the money. | 所以这就像一个高大的栅栏 围绕钱。 |
| 60 | Exactly like a fence. | 就像栅栏一样 |
| 61 | Mainland China has very strict capital controls. | 中国大陆资本管制非常严格. |
| 62 | So a normal person in Beijing cannot just send all their savings to New York. | 因此,北京一个正常人不能仅仅把他们所有的储蓄都寄到纽约. |
| 63 | Right. | 对 |
| 64 | They cannot easily buy American stocks. | 他们不能轻易购买美国股票。 |
| 65 | The government keeps the money locked inside their own economy. | 政府把钱锁在自己的经济里 |
| 66 | OK, but Hong Kong is different. | 好吧,但香港不一样 |
| 67 | Very different. | 非常不一样。 |
| 68 | Hong Kong is an open financial city. | 香港是一个开放的金融城市. |
| 69 | They have absolutely no capital controls. | 他们绝对没有资本控制。 |
| 70 | None at all. | 没有 |
| 71 | None. | 无。 |
| 72 | The money moves freely. | 钱可以自由移动。 |
| 73 | It flows in and out every single second. | 每一秒都流着 |
| 74 | So because Hong Kong has no gates keeping the money inside, people are worried. | 因为香港没有城门把钱藏在里面,所以人们很担心. |
| 75 | Right. | 对 |
| 76 | They worry the money will just walk out the door to buy U.S. | 他们担心钱会走出去买美国 |
| 77 | stocks instead. | 而不是库存。 |
| 78 | That is the exact fear. | 这就是真正的恐惧。 |
| 79 | If an investor in Hong Kong sees a good American stock during lunch, they can just buy it. | 如果在香港的投资者在午餐时看到好的美国股票,他们可以直接购买. |
| 80 | They do not have to wait for the U.S. morning anymore. | 他们不用再等美国早上了 |
| 81 | No, they can move their money instantly. | 不,他们可以马上转移他们的钱。 |
| 82 | So the local Hong Kong market could lose that money. | 这样当地的香港市场就会失去这笔钱. |
| 83 | Wow. | 珃 |
| 84 | OK, so if money can easily move to the U.S. | 好吧,所以如果钱可以很容易地转移到美国。 |
| 85 | market during Hong Kong's day, that changes things. | 香港时代的市场 改变了一切 |
| 86 | It changes everything. | 它改变了一切。 |
| 87 | How does that actually affect the prices of | 这实际上如何影响 |
| 88 | stocks in real time? | 实时股票? |
| 89 | Well, the matching hours will connect | 那么,匹配的时间会连接 |
| 90 | the prices between the two markets very tightly. | 两个市场之间的价格非常紧凑。 |
| 91 | So a shock in the U.S. hits Hong Kong instantly. | 所以,美国的一个冲击 立刻击中香港。 |
| 92 | Instantly. | 即时. |
| 93 | You do not wait for the next day anymore. | 你不会再等第二天了 |
| 94 | I have another analogy for this. | 我还有一个比喻 |
| 95 | Oh, let us hear it. | 哦,让我们听到它。 |
| 96 | It's like two pools of water. | 如两池水. |
| 97 | And now they are connected by a large pipe. | 现在它们通过大管连接起来。 |
| 98 | OK, I can see that. | 我看得出来 |
| 99 | If you drop a heavy rock in the U.S. | 若投重石于美国. |
| 100 | pool, the waves travel right through the pipe. | 游泳池,波浪穿过水管 |
| 101 | Yes. | 对 |
| 102 | And they hit the Hong Kong pool instantly. | 他们立刻撞到了香港游泳池 |
| 103 | The water moves together. | 水动相合. |
| 104 | That is a perfect way to picture it. | 这是一个完美的方法来描绘它。 |
| 105 | And this mostly affects shared industries. | 这主要影响到共享产业。 |
| 106 | Like which ones? | 喜欢哪个? |
| 107 | Things like Internet technology, | 比如互联网技术 |
| 108 | electric vehicles and biotechnology. | 电动车辆和生物技术。 |
| 109 | Biotechnology. | 生物技术。 |
| 110 | So like companies making new medicines. | 就像公司制造新药 |
| 111 | Right. | 对 |
| 112 | And also semiconductors. | 还有半导体 |
| 113 | Those are the computer chips inside all our phones and cars. | 这是我们所有手机和汽车里的电脑芯片 |
| 114 | Those industries are completely global. | 这些产业是完全全球性的。 |
| 115 | They are. | 他们是。 |
| 116 | The article gives a really good recent example of this | 文章给出了一个很好的例子 |
| 117 | instant wave effect. | 即时波效应. |
| 118 | Oh, right. | 对 |
| 119 | With the Heng Seng Index. | 与恒生指数. |
| 120 | Yes. | 对 |
| 121 | The Heng Seng Index is just a scorecard. | 恒生指数只是记分卡. |
| 122 | It tracks the biggest companies in the Hong Kong market. | 追踪香港市场上最大的公司. |
| 123 | So what happened last week? | 上周发生了什么? |
| 124 | Last week, the index had a great run. | 上周,指数运行顺利。 |
| 125 | It went up five point one percent. | 涨了5个百分点 |
| 126 | That is a big job. | 这工作很艰巨 |
| 127 | It was huge. | 这是巨大的。 |
| 128 | It hit over twenty four thousand four hundred eighty one points. | 它撞到了240004081分。 |
| 129 | People were celebrating. | 人们在庆祝。 |
| 130 | But then Friday happened. | 但后来星期五发生了。 |
| 131 | Right. | 对 |
| 132 | On Friday, it suddenly dropped one point three percent. | 星期五,它突然下降了百分之一的3%。 |
| 133 | Just out of nowhere. | 忽然无缘. |
| 134 | Was there bad news in Hong Kong? | 香港有坏消息吗? |
| 135 | No bad news in Hong Kong at all. | 香港没有坏消息 |
| 136 | It dropped purely because U.S. | 完全是因为美国 |
| 137 | tech stocks fell the night before. | 技术储备在前一天晚上下跌。 |
| 138 | Wow. | 珃 |
| 139 | So the American drop pulled the Asian market down with it. | 美国的降价使亚洲市场陷入低谷。 |
| 140 | Exactly. | 没错 |
| 141 | Experts call this intraday price correlations. | 专家称这一日内价格关联. |
| 142 | OK. Let us break that fancy term down. | 摆 让我们打破这个名词。 |
| 143 | It is actually simple. | 这其实很简单。 |
| 144 | It just means prices in two different | 换成两个不同的价格 |
| 145 | places move up or down at the exact same time. | 地点在同一时间上下移动。 |
| 146 | They move together during the same day. | 他们在同一天一起行动。 |
| 147 | Right. | 对 |
| 148 | In lockstep. | 在锁步。 |
| 149 | And this influence goes both ways, by the way. | 顺便说一句,这种影响是双向的。 |
| 150 | Oh, really? | 是吗? |
| 151 | Yeah. | 对 |
| 152 | So Hong Kong can move the U.S. | 这样香港就可以移动美国. |
| 153 | market, too. | 市场也是。 |
| 154 | Yes. | 对 |
| 155 | Hong Kong tech stocks can change the prices of U.S. | 香港科技股票可以改变美国的价格. |
| 156 | stocks during those Asian daytime hours. | 亚洲白天的库存。 |
| 157 | So a big announcement in China can push up an American stock | 所以,一个大公告在中国 可以推美国股票 |
| 158 | while New York is asleep. | 在纽约睡觉的时候 |
| 159 | Exactly. | 没错 |
| 160 | The connected pools push water back and forth. | 相连的水池前后推水. |
| 161 | With these instant waves in these shared hours, it sounds | 随着这些瞬间波浪 在这些共享的时间,听起来 |
| 162 | really bad for Hong Kong. | 对香港来说很不好 |
| 163 | It's not scary, for sure. | 当然不可怕 |
| 164 | It sounds like Hong Kong could just lose all its trading | 听起来香港会失去一切交易 |
| 165 | business. | 业务。 |
| 166 | Why buy there when you can buy the U.S.? | 你买得起美国的时候 为什么要在那里买东西? |
| 167 | Right. | 对 |
| 168 | But some experts say we should stay calm. | 但有些专家说我们应该保持冷静 |
| 169 | They do not think this change will hurt Hong Kong very much. | 他们认为这个改变不会对香港造成很大伤害. |
| 170 | Really? | 真的吗? |
| 171 | Why not? | 为什么不呢? |
| 172 | Well, the article talks to Jason Chan. | 那篇文章跟陈杰森谈过了 |
| 173 | He is from the Bank of East Asia. | 他是东亚银行的 |
| 174 | What does this take on it? | 这有什么关系? |
| 175 | He says we need to look at what | 他说我们需要看看什么 |
| 176 | actually moves stock prices. | 股价实际变动. |
| 177 | OK. Big news moves prices, right? | 摆 大新闻会影响价格,对吧? |
| 178 | Yes. | 对 |
| 179 | Things like company earnings reports. | 公司收入报告之类的 |
| 180 | Those tell you how much profit a company made. | 告诉你公司赚了多少钱 |
| 181 | And national economic data, too. | 还有国民经济数据 |
| 182 | Exactly. | 没错 |
| 183 | Like job numbers. | 譬如工数. |
| 184 | Exactly. | 没错 |
| 185 | And Jason Chan points out that almost all of those | 而杰森・陈指出,几乎所有这些 |
| 186 | big reports come out during U.S. | 在美国,大报告出来了。 |
| 187 | daytime hours. | 白天时间。 |
| 188 | When New York is wide awake. | 当纽约被唤醒时 |
| 189 | Right. | 对 |
| 190 | So he thinks the new Asian hours for U.S. | 因此他认为美国的新亚洲时间. |
| 191 | stocks might actually be pretty quiet. | 股票也许很安静 |
| 192 | Because the big news is not happening during the Asian day. | 因为大新闻不会在亚洲日发生。 |
| 193 | Yes. | 对 |
| 194 | The heavy trading based on planned news will still | 以计划新闻为基础的大量交易仍将继续 |
| 195 | happen during the normal American day. | 发生在正常的美国日子里 |
| 196 | OK. | 摆 |
| 197 | I see his point. | 我了解他的观点。 |
| 198 | But I know you have a couple more reasons why Hong Kong is | 但我知道你们还有几个理由 香港是 |
| 199 | safe. | 平安无事. |
| 200 | I do. | 当然 |
| 201 | Two big reasons. | 二大因缘. |
| 202 | First, people in Hong Kong can already buy U.S. | 首先,香港的人已经可以购买美国. |
| 203 | stocks during their day. | 日间库存。 |
| 204 | Wait, really? | 等等,真的吗? |
| 205 | How? | 怎么会? |
| 206 | They buy them through stock funds. | 他们通过股票基金来购买它们. |
| 207 | They are often called ETFs. | 它们常被称为ETFs. |
| 208 | So an ETF is just a large basket of different stocks, right? | 因此,ETF只是一大篮 不同的股票,对不对? |
| 209 | Yes. | 对 |
| 210 | You buy one share of the basket and there are already | 你买了一分篮子,就已经 |
| 211 | baskets in Hong Kong that hold U.S. | 香港的篮子 持有美国。 |
| 212 | companies. | 企业。 |
| 213 | So the access is already there. | 因此,进入已经在那里。 |
| 214 | It's not totally new. | 这不是全新的。 |
| 215 | Right. | 对 |
| 216 | It's just more direct now. | 现在更直接了 |
| 217 | But the second reason is the biggest one. | 但第二个原因是最大的。 |
| 218 | OK, let's hear it. | 好吧,让我们听听。 |
| 219 | It's called the Southbound Stock Connect. | 名为"南下股票联通". |
| 220 | Southbound Stock Connect. | 南行股票联通. |
| 221 | What is that? | 这是什么? |
| 222 | It is a special system. | 这是一个特殊的系统。 |
| 223 | Remember how we said mainland China has a fence around its | 记得我们说过中国大陆有栅栏 |
| 224 | money? | 钱? |
| 225 | Yes, the strict capital controls. | 是的,严格的资本控制。 |
| 226 | Well, this system is a special bridge through that fence. | 这个系统是穿过围栏的特别桥梁 |
| 227 | A bridge just for Hong Kong. | 香港的桥梁 |
| 228 | Exactly. | 没错 |
| 229 | It allows mainland Chinese investors to buy shares | 允许中国大陆投资者购买股票 |
| 230 | in Hong Kong. | 在香港,我们去香港 |
| 231 | OK, and it brings a lot of money into the city. | 好吧,这给城市带来了很多钱。 |
| 232 | Massive amounts of money. | 大笔钱 |
| 233 | But here is the trick. | 但这是骗局 |
| 234 | This specific money is not allowed to buy U.S. | 这种特定的金钱不允许购买美国. |
| 235 | stocks. | 库存。 |
| 236 | Oh, wow. | 哦,哇呜。 |
| 237 | So there is a rule, a very strict rule. | 所以有一个规则 一个非常严格的规则 |
| 238 | The mainland money that comes over the bridge must stay in Hong | 上桥的大陆钱一定要留在香港 |
| 239 | Kong shares. | 金刚股. |
| 240 | So it cannot just walk across the street to the | 所以它不能走过马路 |
| 241 | American supermarket. | 美国超市。 |
| 242 | Nope. | 没有 |
| 243 | It is legally trapped in the Hong Kong store. | 它被合法困在香港的商店里. |
| 244 | There's a massive protection for them. | 对他们的保护很大. |
| 245 | It really is. | 没错 |
| 246 | It guarantees a huge baseline of trading will | 它保证了巨大的贸易意志基线 |
| 247 | always stay in Hong Kong. | 总是留在香港。 |
| 248 | OK, that changes things. | 好吧,这改变了事情。 |
| 249 | But I have to push back on Jason Chan's calm view a little | 但我得把Jason Chan的镇静景望往后推 |
| 250 | bit. | 位数。 |
| 251 | Oh, what is your concern? | 哦,你关心什么? |
| 252 | Well, he focuses on planned reports, earnings, job numbers. | 他专注于计划的报告,收入,工作号码 |
| 253 | Sure, those happen during the U.S. | 当然,那些发生在美国。 |
| 254 | Day. | 日报. |
| 255 | Right. | 对 |
| 256 | They are on a schedule. | 他们的日程安排。 |
| 257 | But what about a sudden crisis like an emergency? | 但突然的危机怎么办? |
| 258 | Yeah, emergencies do not have a schedule. | 是的,紧急情况没有时间表。 |
| 259 | What if a huge unexpected scandal breaks at a tech company | 如果科技公司发生意外丑闻怎么办? |
| 260 | at 3 a.m. New York time? | 纽约时间凌晨3点? |
| 261 | That is a fair point. | 这一点很公平。 |
| 262 | Panic does not check a clock. | 恐慌不检查时钟。 |
| 263 | Exactly. | 没错 |
| 264 | If big news breaks, traders will want the option to | 如果大新闻中断,交易商会想选择 |
| 265 | act instantly. | 立即行动 |
| 266 | They want to sell their shares fast. | 他们想快速出售他们的股份。 |
| 267 | They want to stop losing money. | 他们想停止输钱。 |
| 268 | Right. | 对 |
| 269 | And if the Nasdaq is open, they will rush there. | 如果纳斯达克号被打开,他们就会赶到那里. |
| 270 | Hong Kong cannot just ignore this risk. | 香港不能忽视这种风险。 |
| 271 | You are absolutely right. | 你说得对 |
| 272 | And to be fair, Hong Kong is not ignoring it. | 公平地说,香港并没有忽视这一点。 |
| 273 | They are not. | 他们不是。 |
| 274 | No, they are actually planning their own | 不,他们实际上是在计划自己的 |
| 275 | counterattack. | 反击 |
| 276 | Oh, really? | 是吗? |
| 277 | What are they doing? | 他们在干什么? |
| 278 | They are extending their own trading hours | 他们延长了自己的交易时间 |
| 279 | to fight back. | 来反击 |
| 280 | So they are joining the race. | 所以他们要参加比赛了 |
| 281 | Yes, they want to stay competitive in this new global | 是的,他们想保持竞争力 在这个新的全球 |
| 282 | setup. | 设置。 |
| 283 | Who is making this change? | 谁在做这个改变? |
| 284 | The Hong Kong exchanges and clearing. | 香港交流与清场. |
| 285 | They run the local market. | 他们经营当地市场。 |
| 286 | OK, they plan to stretch their late night trading session. | 好吧,他们计划 延长他们的深夜交易会。 |
| 287 | What are the hours right now? | 现在几点了? |
| 288 | Right now, their night session ends at 3 a.m. | 现在,他们的夜会于凌晨3时结束。 |
| 289 | And what is the new time from March 20, 27? | 27年3月20日的新时间是什么? |
| 290 | They will stay open until 4 15 a.m. | 他们将在上午4时15分之前保持开放。 |
| 291 | Wow. | 珃 |
| 292 | 4 15 in the morning. | 凌晨4点15分 |
| 293 | That is late. | 已经很晚了 |
| 294 | It is very late. | 已经很晚了 |
| 295 | Now, we should be clear. | 现在,我们应该清楚。 |
| 296 | This extension is just for derivatives, derivatives. | 这个扩展只针对衍生物,衍生物. |
| 297 | Let us explain that one. | 让我们解释一下。 |
| 298 | What is a derivative? | 什么是衍生物? |
| 299 | It is a special financial contract. | 这是一种特殊的金融合同。 |
| 300 | OK, you are not buying normal stock shares. | 好吧,你不会买普通的股票。 |
| 301 | What are you buying then? | 那你买什么? |
| 302 | You are placing a bet on future prices. | 你打赌未来的价格。 |
| 303 | So you bet on what the stock will be worth next week. | 你下星期要赌多少 |
| 304 | Exactly. | 没错 |
| 305 | Traders use these contracts to protect themselves | 商人利用这些合同保护自己 |
| 306 | from big set in price drops. | 价格大幅下跌。 |
| 307 | So by staying open until 4 15 a.m., Hong Kong gives traders | 所以香港在凌晨4点15分前 一直开着门给商人 |
| 308 | a way to react to late breaking American news. | 这是对美国晚间新闻的反应 |
| 309 | Right. | 对 |
| 310 | But it might not stop with derivatives. | 但它可能不会停止与衍生物。 |
| 311 | They might extend normal stock hours, too. | 他们可能会延长正常的库存时间。 |
| 312 | They might. | 也许吧 |
| 313 | Julia Lung is the head of the local market police, the SFC. | 朱莉娅·龙是当地市场警察SFC的负责人. |
| 314 | OK. What did she say? | 摆 她说什么? |
| 315 | She says they are looking at extending normal stock trading hours very soon. | 她说他们很快就会延长正常的股票交易时间了 |
| 316 | So the whole market might stay open longer. | 所以整个市场可能会保持开放的时间更长。 |
| 317 | Yes. | 对 |
| 318 | They feel they have to stay competitive across all time zones. | 他们觉得他们必须保持所有时区的竞争力。 |
| 319 | You know, hearing all this, the human element just jumps out at me. | 你知道,听到这一切, 人类元素只是跳出在我身上。 |
| 320 | How do you mean? | 你说什么? |
| 321 | Well, it sounds exhausting. | 听起来很累 |
| 322 | Oh, absolutely. | 当然 |
| 323 | I mean, the markets are basically declaring a war on sleep. | 我的意思是,市场基本上 宣战睡眠。 |
| 324 | They really are. | 他们真的是。 |
| 325 | New York stays open. | 纽约保持开放。 |
| 326 | Hong Kong stays open. | 香港保持开放. |
| 327 | Everyone is stretching their hours just to make sure they do not miss a single trade. | 每个人都在延长工作时间,以确保不错过任何一次贸易。 |
| 328 | It is a relentless cycle. | 这是一个无情的循环。 |
| 329 | You cannot blink or you might lose millions. | 你不能眨眼,否则会损失上百万 |
| 330 | Right. | 对 |
| 331 | It forces a total rethink of how humans work in finance. | 这迫使人们重新思考 人类如何在金融领域工作。 |
| 332 | So let us quickly wrap this up for you. | 所以,让我们迅速结束 为你。 |
| 333 | Good idea. | 不错 |
| 334 | We started with the Nasdaq. | 我们从纳斯达克开始 |
| 335 | They are opening a 23 hour window next year. | 他们明年将打开一个23小时的窗口。 |
| 336 | Right. | 对 |
| 337 | And this links the U.S. | 这与美国有关 |
| 338 | and Asian markets closer than they have ever been. | 和亚洲市场比以往更接近。 |
| 339 | We learned that Hong Kong is uniquely exposed to this. | 我们得知香港有独特的接触。 |
| 340 | Money can flow out instantly. | 钱可以立刻流出 |
| 341 | But they also have unique protections. | 但他们也有独特的保护. |
| 342 | Like that locked mainland money from the stock connect. | 就像从股票上锁的大陆钱一样 |
| 343 | Exactly. | 没错 |
| 344 | And now Hong Kong is fighting back with longer hours of their own. | 而现在香港则以更长的自身时间进行反击. |
| 345 | The competition is heating up everywhere. | 比赛到处都在热闹 |
| 346 | It is a wild time for global money. | 这是全球货币的疯狂时代。 |
| 347 | But before we go, we always like to leave you with something extra to think about. | 但在我们走之前 我们总想给你留点别的东西 |
| 348 | Right. | 对 |
| 349 | Final thought. | 最终的想法。 |
| 350 | So as we move toward this world where financial markets literally never close, | 当我们走向这个金融市场从未关闭的世界时, |
| 351 | what happens to the human traders? | 人贩子怎么办? |
| 352 | That is the big question. | 这是一个大问题。 |
| 353 | We need sleep. | 我们需要睡觉。 |
| 354 | Markets do not. | 市场没有。 |
| 355 | Right. | 对 |
| 356 | If the market is awake and jumping around for 23 hours a day, | 如果市场醒了 每天跳23小时 |
| 357 | can humans even keep up? | 人类能跟上吗? |
| 358 | Probably not. | 也许不是。 |
| 359 | So the data moves too fast. | 所以数据移动太快。 |
| 360 | Does this mean the future of trading will be handed over entirely to computers | 这是否意味着交易的未来将完全交给计算机? |
| 361 | and artificial intelligence? | 还有人工智能? |
| 362 | It might. | 也许吧 |
| 363 | While the humans finally go to sleep, | 人类终于睡着了 |
| 364 | the machines take over the buying and selling. | 机器接管了买卖 |
| 365 | It is like our global supermarket is getting entirely run by robots at night. | 这就像我们的全球超市 得到了完全由机器人运行的夜晚。 |
| 366 | It is definitely something for you to think about. | 这绝对是让你思考的东西。 |
| 367 | It really is. | 没错 |
| 368 | Well, thank you for joining us on this deep dive. | 谢谢你加入我们的深潜行动 |
| 369 | See you next time. | 下次见 |
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