Chinese stocks falls from record

时间：2007-03-30 06:47:23

（单词翻译:单击）

BEIJING, March 30 - Shares on the Chinese mainland fell from a record high Thursday on concern that recent gains have more than reflected prospects1 for earnings2 growth.

 

"There are no bargains in the market and some are selling on concern about the valuation of shares," Bloomberg News said, citing Sun Chao, a Shanghai-based analyst3 at Citic Securities Co. "The market needs to retreat to a more attractive level in terms of valuation before it comes back."

 

Shanghai International Port (Group) Co, the operator of China's biggest port, declined 0.31 yuan (four US cents), or three percent, to 9.92 yuan. The stock has climbed 42 percent so far this year. Shanghai Automotive Co, the listed unit of the country's largest automaker, fell 0.40 yuan, or three percent, to 12.76 yuan. ZTE Corp, the nation's biggest publicly traded phone-equipment maker4, retreated 1.01 yuan, or 2.3 percent, to 43.90 yuan.

 

The Shanghai Composite Index, which tracks the bigger of mainland's stock exchanges, rose 0.8 percent to 3,197.54, a record close. The Shenzhen Composite Index, which covers the smaller one, slid 1.8 percent to 820.72.

 

Industrial & Commercial Bank of China Ltd led lenders higher after a central bank survey showed their confidence is improving.

 

ICBC, the nation's largest bank, jumped 5.5 percent to 5.59 yuan. It overtook Bank of America Corp as the world's second-largest bank by market value.

 

Bank of China, the nation's second-biggest lender, surged 6.4 percent to 5.67 yuan.

 

China Minsheng Banking5 Corp rose 1.7 percent to 12.61 yuan. Shanghai Pudong Development Bank Co, partly owned by Citigroup Inc., climbed 2.9 percent to 26.69 yuan.

 

The bankers' confidence index rose to 60.6 in the first quarter from 58.4 in the previous three months, and the percentage of bankers who thought the economy will continue to overheat fell to 34.7 percent from 44.7 percent. The results were based on a survey of 2,850 heads of financial institutions.

 

Elsewhere, China Merchants Energy Shipping6 Co, the country's largest operator of international oil tankers7, fell four percent, to 9.14 yuan. The company said net income for 2006 fell 38 percent from a year earlier to 829.3 million yuan as higher fuel costs eroded8 earnings.

 

The benchmark Composite Index on the Shanghai Stock Exchange closed at 3,197.54 points on Thursday, up 24.52 points from the previous close.

 

The Component9 Index on the Shenzhen Stock Exchange closed at 8,579.32 points on Thursday, down 8.03 points from the previous close.

 
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1 prospects fkVzpY     
n.希望，前途(恒为复数)
参考例句：
  • There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
  • They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
2 earnings rrWxJ     
n.工资收人；利润，利益，所得
参考例句：
  • That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
  • Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。
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 maker DALxN     
n.制造者，制造商
参考例句：
  • He is a trouble maker，You must be distant with him.他是个捣蛋鬼，你不要跟他在一起。
  • A cabinet maker must be a master craftsman.家具木工必须是技艺高超的手艺人。
5 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。
6 shipping WESyg     
n.船运（发货，运输，乘船）
参考例句：
  • We struck a bargain with an American shipping firm.我们和一家美国船运公司谈成了一笔生意。
  • There's a shipping charge of ￡5 added to the price.价格之外另加五英镑运输费。
7 tankers f6c16f554e37ea81859ae031ca991f5d     
运送大量液体或气体的轮船[卡车]( tanker的名词复数 )； 油轮； 罐车； 油槽车
参考例句：
  • They should stop offloading waste from oil tankers into the sea. 他们应当停止从油轮上往海里倾倒废弃物。
  • The harbour admits large tankers and freighters. 这个港口容得下巨型油船和货轮。
8 eroded f1d64e7cb6e68a5e1444e173c24e672e     
adj. 被侵蚀的，有蚀痕的 动词erode的过去式和过去分词形式
参考例句：
  • The cliff face has been steadily eroded by the sea. 峭壁表面逐渐被海水侵蚀。
  • The stream eroded a channel in the solid rock. 小溪在硬石中侵蚀成一条水道。
9 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。

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