Chinese shares climb another peak

时间：2007-04-25 00:41:53

（单词翻译:单击）

BEIJING, April 24 - Chinese shares soared to another new high on Monday, with the benchmark Shanghai Composite Index, led by steel and bank stocks, breaking the 3,700-point mark for the first time.

 

The index, which covers both yuan-denominated A-shares and foreign currency-denominated B-shares on the Shanghai Stock Exchange, jumped 126.69 points or 3.53 percent to close at a record 3,710.89 points. Turnover1 reached 184.5 billion yuan (23.65 billion U.S. dollars).

 

The component2 index of the smaller Shenzhen Stock Exchange was up 426.42 points or 4.16 percent to 10,685.06 points on turnover of 105.4 billion yuan.

 

The vast majority of the shares moved up - including 828 on the Shanghai bourse and 578 on the Shenzhen bourse - with 110 of them going up by the maximum ten percent.

 

Steel stocks recorded the highest rise, with Liaoning-based Fushun Special Steel Co. Ltd., Gansu-based Jiuquan Iron and Steel Group and Hebei-based Chengde Xinxin Vanadium and Titanium Co. Ltd. hitting their daily ten percent limits.

 

The heavyweight Industrial and Commercial Bank of China gained 2.07 percent to close at 5.43 yuan, while the Bank of China was up2.36 percent to 5.65 yuan.

 

"Following last week's plunge3, the stock market has recovered rapidly with shares rising on Friday and again today. This reflects continuing market expectations of higher share prices", said Qiu Yanying, an analyst4 at Shanghai TX Investment Consulting Co. Ltd.

 

Chinese shares plummeted5 by more than four percent on April 19 ahead of the release of China's first quarter economic data and amid concerns that an overheated economy might prompt the central government to raise interest rates.

 

But the next day, when official figures proved to be "better than expected", shares bounced back sharply with investors6 setting off on another buying spree, said an analyst with Guotai Junan Securities.

 
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1 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。
2 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。
3 plunge 228zO     
v.跳入，(使)投入，(使)陷入；猛冲
参考例句：
  • Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
  • That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。
4 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。
5 plummeted 404bf193ceb01b9d9a620431e6efc540     
v.垂直落下，骤然跌落( plummet的过去式和过去分词 )
参考例句：
  • Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
  • A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》
6 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

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