Chinese shares slump sharply, down 8.84pct

时间：2007-02-28 01:45:13

（单词翻译:单击）

Feb.27 - Chinese shares slumped2 sharply on Tuesday, with the major Shanghai index down 8.84 percent, the biggest daily drop in 10 years. Analysts4 blame profit taking for the dramatic drop.

 

The benchmark Shanghai Composite Index, which covers both A- and B-shares, plunged5 8.84 percent to closed at 2,771.79 points, the biggest daily dive since Feb. 18 in 1997 when the index dropped 8.91 percent.

 

The component6 index of the smaller Shenzhen Stock Exchange lost9.29 percent, or 797.87 points to end at 7,790.82 points. Turnover7 on the two bourses totaled 198.9 billion yuan (24.8 billion U.S. dollars).

 

Share prices, 1,263 of the country's 1,400 domestically listed companies, were down. More than 900 stocks plunged to the allowable limit of 10 percent, while only 57 posted gains.

 

Market heavyweights declined, with shares of the Industrial and Commercial Bank of China sliding 8.04 percent to 4.69 yuan and that of the Bank of China falling 7.23 percent to 4.62 yuan.

 

China Life, the country's biggest life insurer, lost 9.02 percent to close at 33.89 yuan.

 

Banking8 shares experienced heavy loses after the People's Bank of China, the country's central bank, raised the required reserve ratio for financial institutions engaging in deposit business by 0.5 percentage points to 10 percent on Sunday.

 

Share prices of China Petroleum9 and Chemical Corporation, known as Sinopec, slid 10 percent, the daily maximum, after crude oil prices hit a two-month high on Monday following higher demand for heating oil was boosted by a winter storm in the United States.

 

Light sweet crude for April delivery was up 25 cents to 61.39 U.S. dollars on the New York Mercantile Exchange, the highest close since Dec. 22.

 

"As the indices stand at unprecedented10 highs, the risks are also piled high," said securities analyst3 Qiu Yanying, who believes the slump1 is a regular market adjustment.

 

Chinese shares climbed to a new high Monday, the first day of trading in the Year of Pig, as the benchmark Shanghai Composite Index gained 42.13 points to closed at 3,040.60 points.

 

"China's Bull market is based on continuing economic development and corporate11 profit growth, so the stocks will not slump further," said Zhao Jianxing, a stock analyst with China Merchants Securities.

 

"Investors12 should be optimistic," Shenyin & Wangguo Securities told Xinhua. "The bull market trend remains13."

 
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点击收听单词发音收听单词发音  

1 slump 4E8zU     
n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌
参考例句：
  • She is in a slump in her career.她处在事业的低谷。
  • Economists are forecasting a slump.经济学家们预言将发生经济衰退。
2 slumped b010f9799fb8ebd413389b9083180d8d     
大幅度下降，暴跌( slump的过去式和过去分词 )； 沉重或突然地落下[倒下]
参考例句：
  • Sales have slumped this year. 今年销售量锐减。
  • The driver was slumped exhausted over the wheel. 司机伏在方向盘上，疲惫得睡着了。
3 analyst gw7zn     
n.分析家，化验员；心理分析学家
参考例句：
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。
4 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
5 plunged 06a599a54b33c9d941718dccc7739582     
v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降
参考例句：
  • The train derailed and plunged into the river. 火车脱轨栽进了河里。
  • She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。
6 component epSzv     
n.组成部分，成分，元件；adj.组成的，合成的
参考例句：
  • Each component is carefully checked before assembly.每个零件在装配前都经过仔细检查。
  • Blade and handle are the component parts of a knife.刀身和刀柄是一把刀的组成部分。
7 turnover nfkzmg     
n.人员流动率，人事变动率；营业额，成交量
参考例句：
  • The store greatly reduced the prices to make a quick turnover.这家商店实行大减价以迅速周转资金。
  • Our turnover actually increased last year.去年我们的营业额竟然增加了。
8 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
9 petroleum WiUyi     
n.原油，石油
参考例句：
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
10 unprecedented 7gSyJ     
adj.无前例的，新奇的
参考例句：
  • The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
  • A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。
11 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
12 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
13 remains 1kMzTy     
n.剩余物，残留物；遗体，遗迹
参考例句：
  • He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
  • The remains of the meal were fed to the dog.残羹剩饭喂狗了。

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