地缘政治风险已成为投资决策的关键因素，周三在香港旗舰投资峰会上发言的嘉宾指出，全球紧张局势正日益蔓延至市场，这一现实日益凸显。
Geopolitical risk has become crucial to investment decision-making, according to speakers at Hong Kong’s flagship investment summit on Wednesday, who highlighted the increasing reality that global tensions are spilling over to markets.
在2026年环球金融领袖投资峰会的一个小组讨论环节中，Lazard Asset Management（雷曼资产管理）首席执行官Chris Hogbin和Schroders Plc（施罗德集团）首席执行官Richard Oldfield明确表示，投资者已无法仅凭财务指标来评估机遇。
During a panel at the 2026 Global Financial Leaders’ Investment Summit, Lazard Asset Management Chief Executive Officer Chris Hogbin and Schroders Plc CEO Richard Oldfield made clear that investors can no longer afford to assess opportunities through financial metrics alone.
“我认为，过去几年我们已进入一个看起来截然不同的世界，”Hogbin表示，“这是多极竞争。这是交易。这是冲突，无论是贸易战、军事冲突，还是重整军备，对吧？”“如果我们身处一个截然不同的环境，我们大概需要以不同的方式管理资金、思考资产配置，”他补充道。
“I would argue that over the last few years, we’ve moved to a world where it looks pretty different,” said Hogbin. “It’s multipolar competition. It’s deals. It’s conflict, whether that’s trade wars, whether that’s military wars, it’s rearmament, right?”“If we’re in a really different place, we probably need to manage money and think about asset allocations differently,” he added.
Hogbin表示，其公司正“投入巨资”建设地缘政治分析能力，已组建一支由前军事专业人士、前政客和政治分析师组成的团队，协助Lazard及其客户梳理地缘政治突发事件将如何影响资产价格。
Hogbin said his firm was “investing incredibly heavily” in building geopolitical capabilities, having assembled a team of former military professionals, ex-politicians and political analysts to help Lazard and its clients map out how geopolitical flareups will impact asset prices.
尽管人工智能在过去几天主导了香港峰会上银行家和投资者的讨论，但多位小组成员指出，燃料价格上涨是另一大隐忧。受伊朗冲击供应影响，油价期货今年飙升近70%，加剧了对全球通胀的担忧。
Although artificial intelligence has dominated discussion among bankers and investors at the Hong Kong event over the past few days, multiple panelists have pointed to higher fuel prices as another headache. Oil futures have jumped almost 70% this year as the Iran conflict has hit supply, adding to worries about global inflation.
Schroders的Oldfield强调了通胀引发恶性循环的风险，因为主权国家和消费者都在增加开支。
Schroders’ Oldfield highlighted the risk of inflation fueling a vicious cycle, as sovereigns and consumers up their spending.
“债务成本上升，由此形成一个循环，意味着股票和固定收益市场现在完全相关，”他说。“所以我认为，当我们展望2027年时，这就是不同的风险。” 与会专家发言之际，投资者正在消化美国中期选举的结果。民主党包揽国会两院的前景日益增大，在早期计票结果公布后，这一前景在全球市场引发连锁反应，导致美股指期货和美元下跌，同时推高了美国国债价格。
“The cost of debt goes up, and you get this cycle that means equity and fixed income markets are now perfectly correlated,” he said. “So I think that’s the risk that is different as we look forward into 2027.”The panelists spoke as investors digested the US midterm elections. The growing prospect of a Democratic sweep of Congress rippled across global markets, sending US stock-index futures and the dollar lower while boosting Treasuries as early returns came in.