Chinese shares close higher Monday

时间：2007-05-22 03:18:50

（单词翻译:单击）

May 22 - Chinese shares rose on Monday to a new high after central bank's latest move to curb1 liquidity2 and squeeze bubble in the capital market.

 

The benchmark Shanghai Composite Index rose 1.04 percent, or about 42 points, to close at 4,072.23 points. The turnover3 reached211.354 billion yuan (22.4 billion U.S. dollars).

 

The Component4 Index of the smaller Shenzhen Stock Exchange climbed 169.10 points, or 1.4 percent, to conclude trading at 12,269.20 points on a turnover of 106.146 billion yuan.

 

The shares were led by coal and aviation companies.

 

The Shanxi-based Datong Coal Industry Company soared to the daily limit 10 percent at 23.1 yuan and the Beijing-based Aerospace5 Hi-tech Holding Group went up 9.97 percent to 15.88 yuan.

 

Shares in telecommunication6, building materials and recycling also performed well.

 

However, banking7 shares dropped on Monday following the announcement of hiked in interest rate and reserve requirement ratios.

 

The Industrial and Commercial Bank fell 0.73 percent to reach at 5.45 yuan. The Bank of China slump8 1.03 percent to close at 5.75 yuan.

 

The People's Bank of China, the central bank announced to raise the benchmark interest rates and the bank reserve ratio simultaneously9 on Friday.

 

"The decision is reasonable and within people's expectations," said Yin Jianfeng, a financial expert with the Chinese Academy of Social Sciences.

 

"By doing so, the central bank attempts to impose curbs10 on excessive investment and the speculative11 bubble on the stock market, but it is too early to say whether the move will be effective," Yin said.

 

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1 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
2 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
3 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。
4 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。
5 aerospace CK2yf     
adj.航空的，宇宙航行的
参考例句：
  • The world's entire aerospace industry is feeling the chill winds of recession.全世界的航空航天工业都感受到了经济衰退的寒意。
  • Edward Murphy was an aerospace engineer for the US Army.爱德华·墨菲是一名美军的航宇工程师。
6 telecommunication 5gMzg5     
n.电信，远距离通信
参考例句：
  • Telecommunication is an industry of service.电信业是一个服务型的行业。
  • I only care about the telecommunication quality and the charge.我只关心通信质量和资费两个方面。
7 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。
8 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。
9 simultaneously 4iBz1o     
adv.同时发生地，同时进行地
参考例句：
  • The radar beam can track a number of targets almost simultaneously.雷达波几乎可以同时追着多个目标。
  • The Windows allow a computer user to execute multiple programs simultaneously.Windows允许计算机用户同时运行多个程序。
10 curbs 33e58ba55cb8445083b74c118601eb9a     
v.限制，克制，抑制( curb的第三人称单数 )
参考例句：
  • In executing his functions he is not bound by any legal curbs on his power. 在他履行职务时，他的权力是不受任何法律约束的。 来自辞典例句
  • Curbs on air travel were being worked out and would shortly be announced. 限制航空旅行的有关规定正在拟定中，不久即将公布。 来自辞典例句
11 speculative uvjwd     
adj.思索性的，暝想性的，推理的
参考例句：
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。

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