China stocks hit record high_财经新闻

China stocks hit record high

文章来源：文章作者：发布时间：2007-09-18 07:28 字体： [大中小]　进入论坛

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Sept. 18 - China's major stock index shrugged¹ off the latest monetary² tightening³ measures on Monday, rising more than two percent to hit an all-time high.

The benchmark Shanghai Composite Index increased 109.21 points, or 2.06 percent, to close at 5,421.39 points. The Shenzhen Composite Index rose 1.99 percent to 1,512.29, while CSI 300 Index went up 1.88 percent to 5,498.90.

The rally came after the central bank announced an interest rate hike on Friday, the fifth so far this year and the third in less than two months. The latest monetary tightening was a response to an 11-year high inflation, a rapid growth in investment and industrial production, and trade surplus in August.

In theory, an interest rate hike is a bad news for the equity⁴ market as it increases firms' lending costs and makes bank deposits a more attractive alternative.

However, that rule does not seem to apply to China. Monday's surge was just a repetition of the market's performance on the first session after an interest rate increase this year.

Making Monday's rise more remarkable⁵, some 2.5 to 2.8 trillion yuan is expected to be frozen for a subscription⁶ for shares in China Construction Bank, reducing the amount available for the secondary market. The country's second largest bank may make its Shanghai debut⁷ before the end of this month.

Airline shares were among the best performers, with China Eastern Airlines jumping its daily limit of 10 percent to close at 19.14 yuan per share. Air China followed with a 7.67 percent increase to 24.98 yuan, while China Southern Airlines soared 5.69 percent to 27.32 yuan.

Steel shares were also strong. Baosteel rose 3.23 percent to 20.44 yuan, and Angang Steel and Iron Co. surged 5.26 percent to 38.2 yuan.

In the banking⁸ sector⁹, China Merchants Bank rose 1.32 percent to 35.38 yuan, compared with a 0.77 percent rise in the Industrial and Commercial Bank to 6.54 yuan.

Insurance shares also pushed up the market, with China Life increasing 3.32 percent to 55.04 yuan, followed by a 2.18 percent rise in Ping An of China to 107.46 yuan.

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收听单词发音

1 shrugged
vt.耸肩（shrug的过去式与过去分词形式）
参考例句：
Sam shrugged and said nothing. 萨姆耸耸肩膀，什么也没说。 She shrugged, feigning nonchalance. 她耸耸肩，装出一副无所谓的样子。来自《简明英汉词典》

2 monetary
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。

3 tightening
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。

4 equity
n.公正，公平，（无固定利息的）股票
参考例句：
They shared the work of the house with equity.他们公平地分担家务。 To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

5 remarkable
adj.显著的，异常的，非凡的，值得注意的
参考例句：
She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。 These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。

6 subscription
n.预订，预订费，亲笔签名，调配法，下标（处方）
参考例句：
We paid a subscription of 5 pounds yearly.我们按年度缴纳5英镑的订阅费。 Subscription selling bloomed splendidly.订阅销售量激增。

7 debut
n.首次演出，初次露面
参考例句：
That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。 The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

8 banking
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。

9 sector
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。

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