VOA常速英语2008年-Asian Markets Remain Volatile in Limited Tradin

By Naomi Martig
Hong Kong
20 March 2008

Stock markets in Asia remain jittery¹, with fears of a U.S. recession continuing to cause major market fluctuation². As Naomi Martig reports from Hong Kong, financial analysts³ say that this may be the beginning of a long period of market instability.

Hong Kong's Hang Seng Index closed nearly 3.5 percent lower in limited trading, Thursday, while China's main stock index in Shanghai dropped to its lowest level in nine months, before rebounding⁴ to end one percent higher.

Share prices also fell in other major Asian stock exchanges.

The market fluctuations⁵ in Asia follow overnight losses on Wall Street, with the Dow Jones Industrial Average falling more than two percent.

Duncan Wooldridge is Chief Asia Economist⁶ for the bank UBS in Hong Kong. He says the declines in Asia stock markets reflect persistent⁷ investor⁸ concern over the American economy and the U.S. subprime mortgage crisis.

"It's not necessarily that the Fed is doing anything wrong, or not doing enough," he said. "You have certain pressures moving in a direction that just makes it very difficult to avoid outright⁹ recession."

Markets rebounded¹⁰, Wednesday, after the U.S. Federal Reserve announced an interest rate cut. Analysts say Thursday's slowdown was caused by investors¹¹ wanting to hold onto earnings¹² from the previous day.

Earlier this week, the Fed also announced emergency measures to ease the liquidity¹³ crisis in credit markets.

Wooldridge says investors are not as concerned about whether or not there will be a U.S. recession as they are about how bad the predicted recession will be.

"And the implications that that may imply, because I think that's where there's actually more uncertainty¹⁴ in terms of what investors are thinking about," he said.

The dollar gained against the euro, after nearly a week of volatility¹⁵, although volumes were reduced because markets in Japan are closed for the public holiday.

Financial markets in India, Indonesia, Malaysia, Pakistan and the Philippines were also closed for national holidays.

Oil prices fell, with American crude futures¹⁶ down 38 cents to $102.19 a barrel, far lower than Monday's record $111.80.

Gold prices also dropped more than two percent on Wednesday, their lowest level in one month.

1 jittery   

adj. 神经过敏的, 战战兢兢的

参考例句：

• However, nothing happened though he continued to feel jittery. 可是，自从拉上这辆车，并没有出什么错儿，虽然他心中嘀嘀咕咕的不安。 来自汉英文学 - 骆驼祥子
• The thirty-six Enterprise divebombers were being squandered in a jittery shot from the hip. 这三十六架“企业号”上的俯冲轰炸机正被孤注一掷。

2 fluctuation   

n.(物价的)波动，涨落；周期性变动；脉动

参考例句：

• The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
• Early and adequate drainage is essential if fluctuation occurs.有波动感时，应及早地充分引流。

3 analysts   

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。

4 rebounding   

蹦跳运动

参考例句：

• The strength of negative temperature concrete is tested with supersonic-rebounding method. 本文将超声回弹综合法用于负温混凝土强度检测。
• The fundamental of basketball includes shooting, passing and catching, rebounding, etc. 篮球运动中最基本的东西包括投篮，传接球，篮板球等。

5 fluctuations   

波动，涨落，起伏( fluctuation的名词复数 )

参考例句：

• He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
• There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。

6 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

7 persistent   

adj.坚持不懈的，执意的；持续的

参考例句：

• Albert had a persistent headache that lasted for three days.艾伯特连续头痛了三天。
• She felt embarrassed by his persistent attentions.他不时地向她大献殷勤，使她很难为情。

8 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

9 outright   

adv.坦率地；彻底地；立即；adj.无疑的；彻底的

参考例句：

• If you have a complaint you should tell me outright.如果你有不满意的事，你应该直率地对我说。
• You should persuade her to marry you outright.你应该彻底劝服她嫁给你。

10 rebounded   

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。

11 investors   

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

12 earnings   

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%。

13 liquidity   

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。

14 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

15 volatility   

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。

16 futures   

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。