China stocks tumble amid global sell-off

时间：2007-08-20 03:14:14

（单词翻译:单击）

Aug. 18 - China's main stock index fell more than two percent on Friday as concerns over global debt market turmoil1 drove down major overseas markets.

 

The benchmark Shanghai Composite Index tumbled 2.28 percent to close at 4,656.57 points, extending Thursday's 2.14 percent loss. The Shenzhen Composite Index went down 1.57 percent to 1,297.21.

 

The decline came as investors2 around the world sold off stocks because of worries that the global credit market trouble stemming from the United States' sub-prime mortgages may spread further and slow down the world economy.

 

In Hong Kong, the Hang Seng Index plunged3 more than 6 percent at one stage before recovering some lost ground to close 1.38 percent down. In Tokyo, the key Nikkei Index lost more than 5 percent and closed at its lowest level in 12 months.

 

In Wall Street on Thursday, the Dow Jones industrial average plunged as many as 343 points before ending the day 15.69 points lower from the previous close.

 

Blue chips were among the worst performers in the Shanghai and Shenzhen stock exchanges. These stocks have led the market rally in the last few weeks, making them easy targets for profit-taking.

 

The Industrial and Commercial Bank of China dropped 4.58 percent to close at 6.46 yuan per share, while Bank of China fell 3.19 percent to 5.76 yuan.

 

In the insurance sector4, Ping An Insurance of China shed 4.28 percent to 89.17 yuan, followed by a 2.93 percent fall in China Life to 47.34 yuan.

 

Sinopec also contributed to the decline, diping 2.55 percent to 14.52 yuan, as Angang Steel and Iron Co. fell 5.09 percent to 26.10 yuan.

 

Bucking5 the trend, Aluminium6 Corporation of China gained 2.66 percent to 35.49 yuan, and Shanghai Automobile7 edged up 0.48 percent to 23.19 yuan.

 

Another factor pulling down the market is a possible interest rate hike. The Consumer Price Index, a barometer8 of inflation, jumped a 10-year high of 5.6 percent in July, raising the odds9 for the fourth interest rate increase this year.

 

The possible monetary10 tightening11 made investors jittery12 on Friday as the central bank usually announces interest rate hikes during the weekend.

 
分享到：


点击收听单词发音收听单词发音  

1 turmoil CKJzj     
n.骚乱，混乱，动乱
参考例句：
  • His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
  • The robbery put the village in a turmoil.抢劫使全村陷入混乱。
2 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
3 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。
4 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
5 bucking a7de171d35652569506dd5bd33b58af6     
v.（马等）猛然弓背跃起( buck的现在分词 )；抵制；猛然震荡；马等尥起后蹄跳跃
参考例句：
  • a bucking bronco in the rodeo 牛仔竞技表演中一匹弓背跳跃的野马
  • That means we'll be bucking grain bags, bustin's gut. 那就是说咱们要背这一袋袋的谷子，得把五脏都累坏。 来自辞典例句
6 aluminium uLjyc     
n.铝 (=aluminum)
参考例句：
  • Aluminium looks heavy but actually it is very light.铝看起来很重，实际上却很轻。
  • If necessary, we can use aluminium instead of steel.如果必要，我们可用铝代钢。
7 automobile rP1yv     
n.汽车，机动车
参考例句：
  • He is repairing the brake lever of an automobile.他正在修理汽车的刹车杆。
  • The automobile slowed down to go around the curves in the road.汽车在路上转弯时放慢了速度。
8 barometer fPLyP     
n.气压表，睛雨表，反应指标
参考例句：
  • The barometer marked a continuing fall in atmospheric pressure.气压表表明气压在继续下降。
  • The arrow on the barometer was pointing to"stormy".气压计上的箭头指向“有暴风雨”。
9 odds n5czT     
n.让步，机率，可能性，比率；胜败优劣之别
参考例句：
  • The odds are 5 to 1 that she will win.她获胜的机会是五比一。
  • Do you know the odds of winning the lottery once?你知道赢得一次彩票的几率多大吗？
10 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
11 tightening 19aa014b47fbdfbc013e5abf18b64642     
上紧，固定，紧密
参考例句：
  • Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
  • It needs tightening up a little. 它还需要再收紧些。
12 jittery jittery     
adj. 神经过敏的, 战战兢兢的
参考例句：
  • However, nothing happened though he continued to feel jittery. 可是，自从拉上这辆车，并没有出什么错儿，虽然他心中嘀嘀咕咕的不安。 来自汉英文学 - 骆驼祥子
  • The thirty-six Enterprise divebombers were being squandered in a jittery shot from the hip. 这三十六架“企业号”上的俯冲轰炸机正被孤注一掷。

©2005-2010英文阅读网