Stock market bounces back

时间：2007-11-15 08:15:58

（单词翻译:单击）


 
SHANGHAI, Nov. 15 - The stock market rebounded2 Wednesday on the heels of a jump in Wall Street shares, pushing the index up nearly 5 percent.

 

The benchmark Shanghai Composite Index rose 4.94 percent, or 254.57 points, to close at 5412.69, after sliding 13.4 percent from the beginning of this month. Gainers outnumbered losers by 831 to 14. The Shenzhen Component3 Index increased 3.63 percent to close at 17355.55.

 

The turnover4 on the two bourses amounted to 127.26 billion yuan Wednesday, with heavy buying and selling in the afternoon trading.

 

The stock markets in Hong Kong and other Asian markets also jumped as a reaction to the recovery of the US stock market the day before.

 

The Hang Seng Index soared 4.86 percent to close at 29155.01, while Japan's Nikkei Index rose 2.47 percent to close at 15499.56.

 

Large-cap stocks led the rally Wednesday as a knee-jerk reaction to the rise of their H-share counterparts. PetroChina jumped 5 percent to close at 38.88 yuan, while its H share increased 7 percent to close at 15.74 yuan.

 

Analysts5 said that the rebound1 of PetroChina, which is the largest company in terms of market capitalization and will be included in the main index next Monday, triggered the rebound of other oil stocks and large-caps.

 

"Many stocks, especially large-caps, have fallen substantially to reach a reasonable price, which propelled institutional investors7, including mutual8 funds, to again include them in their portfolios," Wu Feng, an analyst6 at TX Investment Consulting Co Ltd, said.

 

The average price-earnings ratio (P/E) of the constituent9 stocks in the CSI 300 index was 38.96 Wednesday, which analysts said is a more reasonable level.

 

"A P/E ratio under 40 is reasonable, and the market is not likely to require a sharp correction in the short term," Qin Hong, an analyst at Bohai Investment Research Institute, said.

 

The issuance of new mutual funds, which is expected to raise 80 billion yuan this year, is likely to fuel the stock market.

 

However, analysts said that further interest rate hikes in response to October's high consumer price index is imminent10 and will raise concern among investors, but the market trend would not change.

 

"A correction in the A-share market and further moderate monetary11 tightening12 can be seen as healthy developments," JPMorgan Securities China Equities13 chairman Jing Ulrich said.

 

"Meanwhile, programs such as QDII are leading to greater capital outflows. These trends will take some pressure off the excess liquidity14 situation in China."

 

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点击收听单词发音收听单词发音  

1 rebound YAtz1     
v.弹回；n.弹回，跳回
参考例句：
  • The vibrations accompanying the rebound are the earth quake.伴随这种回弹的振动就是地震。
  • Our evil example will rebound upon ourselves.我们的坏榜样会回到我们自己头上的。
2 rebounded 7c3c38746f183ba5eac1521bcd358376     
弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效
参考例句：
  • The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
  • The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。
3 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。
4 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。
5 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。
6 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。
7 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
8 mutual eFOxC     
adj.相互的，彼此的；共同的，共有的
参考例句：
  • We must pull together for mutual interest.我们必须为相互的利益而通力合作。
  • Mutual interests tied us together.相互的利害关系把我们联系在一起。
9 constituent bpxzK     
n.选民；成分，组分；adj.组成的，构成的
参考例句：
  • Sugar is the main constituent of candy.食糖是糖果的主要成分。
  • Fibre is a natural constituent of a healthy diet.纤维是健康饮食的天然组成部分。
10 imminent zc9z2     
adj.即将发生的，临近的，逼近的
参考例句：
  • The black clounds show that a storm is imminent.乌云预示暴风雨即将来临。
  • The country is in imminent danger.国难当头。
11 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。
12 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。
13 equities 501c457a1f918a4b41824052f5a3f5eb     
普通股，股票
参考例句：
  • These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
  • They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。
14 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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