Bubbles in stock market are inevitable, expert

时间：2007-05-28 05:54:07

（单词翻译:单击）

Chinanews, Hong Kong, May 26 – Chinese stock market has entered into a bullish period. Many people fear that there might be bubbles in it and such bubbles might burst at any time. In responding to such worry, Xiang Huaicheng, president of the National Council for Social Security Funds, said on Thursday that at present, media are discussing too much about the possible bubbles in the stock market. However, it is unavoidable for the stock market to have bubbles. Stock market is just like beer: if there are no bubbles in the beer, it is not beer any more. Faced with the extraordinary bullish performance, what investors1 should do is to control risks and be prepared for any fluctuations2 in the stock market, Hong Kong-based Wen Wei Po reported.

 

He made the remarks when attending a luncheon3 hosted by the Hong Kong provincial-level fraternity of Chinese People’s Political Consultative Conference.

 

At the luncheon, Xiang said that there were some problems existing in the current mainland stock market, that the index had risen too quickly and there might be bubbles in it. However, he said, we may use beer as a metaphor4 to describe the current situation in the stock market: it may not be a bad thing for beer to contain some bubbles, as long as there aren’t too many bubbles in it.

 

Despite this, Xiang also said that the index had risen too quickly within a short time. Right now, the average P/E ratio in the mainland stock market has already reached 40, or even 50. Usually, the average P/E ratio for a new stock market may be around 15. In Hong Kong, such ratio merely has reached 18. This shows that stock prices in the mainland stock market are relatively5 high, he pointed6 out.

 

He said that right now, the total number of stock account holders7 in the mainland has already reached 100 million. Even students and elderly people now plung into the stock market. According to him, mainland investors should be fully8 aware of the possible risks involved in the stock market and take measures to control the risks. In addition, investors should understand that fluctuations in the stock market are unavoidable and they should be prepared for the possible big drop in the market.

 
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1 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
2 fluctuations 5ffd9bfff797526ec241b97cfb872d61     
波动，涨落，起伏( fluctuation的名词复数 )
参考例句：
  • He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
  • There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。
3 luncheon V8az4     
n.午宴，午餐，便宴
参考例句：
  • We have luncheon at twelve o'clock.我们十二点钟用午餐。
  • I have a luncheon engagement.我午饭有约。
4 metaphor o78zD     
n.隐喻，暗喻
参考例句：
  • Using metaphor,we say that computers have senses and a memory.打个比方，我们可以说计算机有感觉和记忆力。
  • In poetry the rose is often a metaphor for love.玫瑰在诗中通常作为爱的象征。
5 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
6 pointed Il8zB4     
adj.尖的，直截了当的
参考例句：
  • He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
  • She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。
7 holders 79c0e3bbb1170e3018817c5f45ebf33f     
支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物
参考例句：
  • Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
  • It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。
8 fully Gfuzd     
adv.完全地，全部地，彻底地；充分地
参考例句：
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

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