Another record as index breaks 3,400 barrier

时间：2007-04-12 02:35:38

（单词翻译:单击）

Shanghai, Apr.11 - Fueled by a large inflow of investment funds, the Shanghai stock market surged for the seventh consecutive1 day, sending the key indicator2 up 1.33 percent yesterday to a record high of 3,444.29.

 

It was the first time the index has crossed the 3,400-point barrier.

 

The Shanghai Composite Index, the most widely watched indicator of the mainland stock market, rose 45 points, with 407 stocks out of the 912 closing higher. Turnover3 on the Shanghai Stock Exchange amounted to 152.9 billion yuan, also hitting an all-time high, from 139.95 billion yuan the day before.

 

Stocks in the non-ferrous metals sector4 took the biggest jump. Jiaozuo Wanfang Aluminum5 and Yunnan Aluminum surged to their daily allowable limits to close at 17.2 yuan and 20.3 yuan, respectively. Jiangxi Copper6 increased 8.9 percent to close at 23.5 yuan. "It is mainly because of the rising price of non-ferrous metals in the international commodity market, and the concept of asset injection in some State-owned metal companies," said Wu Jianxiong, an analyst7 at Guotai Jun'an Securities.

 

Companies in the financial sector performed well. Industrial Bank Ltd, which posted a 54 percent increase in net profit in 2006, surged 5.6 percent to close at 31.5 yuan. Bank of China rose 3.7 percent to close at 5.88 yuan, while Ping An of China climbed 2.3 percent to close at 52.8 yuan.

 

Analysts8 said the stock market performance, led by large-capitalization financial stocks, is expected to remain stable in the next few weeks before the introduction of index futures9 gives the market a jolt10.

 

"The performance of large-capitalization financial stocks will continue to act as an adjustor to avoid large-scale volatility11 in the stock market before the launch of index futures," said Wu.

 

"The largely increasing liquidity12 continues to drive the rally," said Liu Jun, an analyst at Orient Securities. "But we are still worried about the surging stocks' price-to-earnings ratios, which will possibly result in market volatility," he said.

 

Companies in the steel sector also performed well yesterday, encouraged by the good first-quarter result from Baoshan Iron and Steel. Anyang Iron and Steel surged to its daily limit to close at 6.55 yuan.

 
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1 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
2 indicator i8NxM     
n.指标；指示物，指示者；指示器
参考例句：
  • Gold prices are often seen as an indicator of inflation.黃金价格常常被看作是通货膨胀的指标。
  • His left-hand indicator is flashing.他左手边的转向灯正在闪亮。
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 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 aluminum 9xhzP     
n.(aluminium)铝
参考例句：
  • The aluminum sheets cannot be too much thicker than 0.04 inches.铝板厚度不能超过0.04英寸。
  • During the launch phase,it would ride in a protective aluminum shell.在发射阶段，它盛在一只保护的铝壳里。
6 copper HZXyU     
n.铜；铜币；铜器；adj.铜(制)的；(紫)铜色的
参考例句：
  • The students are asked to prove the purity of copper.要求学生们检验铜的纯度。
  • Copper is a good medium for the conduction of heat and electricity.铜是热和电的良导体。
7 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。
8 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。
9 futures Isdz1Q     
n.期货，期货交易
参考例句：
  • He continued his operations in cotton futures.他继续进行棉花期货交易。
  • Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。
10 jolt ck1y2     
v.（使）摇动，（使）震动，（使）颠簸
参考例句：
  • We were worried that one tiny jolt could worsen her injuries.我们担心稍微颠簸一下就可能会使她的伤势恶化。
  • They were working frantically in the fear that an aftershock would jolt the house again.他们拼命地干着，担心余震可能会使房子再次受到震动。
11 volatility UhSwC     
n.挥发性，挥发度，轻快，（性格）反复无常
参考例句：
  • That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
  • Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。
12 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。

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