China's stock market bounces back

时间：2007-03-02 01:42:25

（单词翻译:单击）
 
March 1 - China's stock market, after experiencing its sharpest daily fall in 10 years, saw a rebound1 of nearly 4 percent yesterday as the government allayed2 fears of a new capital gains tax.

 

The Shanghai Composite Index, which plummeted3 8.84 percent on Tuesday, closed 3.94 percent higher at 2,881.073 in heavy trade.

 

"Tuesday's move was profit-taking, not a fundamental shift in sentiment," said Stephen Green, senior economist4 at Standard Chartered Bank in Shanghai.

 

Meanwhile, officials at the finance ministry5 and the tax bureau said the government would not impose a capital gains tax on stock investments. The rumor6 was the catalyst7 for the big drop on Tuesday, analysts9 said.

 

Premier10 Wen Jiabao said yesterday the government would protect the safety and stability of financial markets, according to the Xinhua News Agency.

 

As China's major stock index recovered about half of Tuesday's losses, the rest of Asia fell yesterday.

 

"Tuesday suggested to some that China's stock market and the world's are now fundamentally linked; today's action pours cold water on that theory," Green said.

 

Although most analysts and economists11 are optimistic about the long-term performance of China's stock market, some analysts are forecasting more corrections.

 

"We see another 15 to 20 percent correction of the A-share index as is necessary and healthy," said Ma Jun, chief economist with Deutsche Bank (Greater China).

 

Dong Chen, a senior analyst8 with CITIC China Securities, said there will be more sharp ups and downs in the market this year, and investors12 had better fasten their seatbelts.

 

He added Ping An's performance today would have limited impact on the market.

 

The country's second-largest insurer will make its debut13 on the Shanghai bourse today, raising 38.87 billion yuan with an initial offer price of 33.8 yuan apiece. It is the second mainland insurer to list after China Life.

 

"If Ping An shares open lower than 45 yuan, it will still have enough growth potential, and could help lead upward momentum14 in the financial sector," Dong told China Daily. "But if the debut price is above 52 yuan, there may be more downward pressure, and it's likely to trigger a slide in financial shares."

 

The insurer said it would issue about 1.15 billion yuan-denominated A shares, accounting15 for 15.66 percent of the insurer's expanded stock of 7.345 billion shares.

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1 rebound YAtz1     
v.弹回；n.弹回，跳回
参考例句：
  • The vibrations accompanying the rebound are the earth quake.伴随这种回弹的振动就是地震。
  • Our evil example will rebound upon ourselves.我们的坏榜样会回到我们自己头上的。
2 allayed a2f1594ab7abf92451e58b3bedb57669     
v.减轻，缓和( allay的过去式和过去分词 )
参考例句：
  • His fever is allayed, but his appetite is still flatted. 他发烧减轻了，但食欲仍然不振。 来自《现代英汉综合大词典》
  • His fever was allayed by the medicine. 这药剂使他退烧了。 来自《现代英汉综合大词典》
3 plummeted 404bf193ceb01b9d9a620431e6efc540     
v.垂直落下，骤然跌落( plummet的过去式和过去分词 )
参考例句：
  • Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
  • A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》
4 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
5 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。
6 rumor qS0zZ     
n.谣言，谣传，传说
参考例句：
  • The rumor has been traced back to a bad man.那谣言经追查是个坏人造的。
  • The rumor has taken air.谣言流传开了。
7 catalyst vOVzu     
n.催化剂，造成变化的人或事
参考例句：
  • A catalyst is a substance which speeds up a chemical reaction.催化剂是一种能加速化学反应的物质。
  • The workers'demand for better conditions was a catalyst for social change.工人们要求改善工作条件促进了社会变革。
8 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。
9 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。
10 premier R19z3     
adj.首要的；n.总理，首相
参考例句：
  • The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
  • He requested that the premier grant him an internview.他要求那位总理接见他一次。
11 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家，经济专家( economist的名词复数 )
参考例句：
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
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 debut IxGxy     
n.首次演出，初次露面
参考例句：
  • That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
  • The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。
14 momentum DjZy8     
n.动力，冲力，势头；动量
参考例句：
  • We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
  • The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。
15 accounting nzSzsY     
n.会计，会计学，借贷对照表
参考例句：
  • A job fell vacant in the accounting department.财会部出现了一个空缺。
  • There's an accounting error in this entry.这笔账目里有差错。

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