搜搜考试网帮忙翻译下经济文章33,谢谢
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帮忙翻译下经济文章33,谢谢
Previous adjustments of A-share market had no impact on overseas markets. But according to the above investment structure, the situation has now changed. Put more specifically; an A-share plunge may have two consequences: 1. When A-share prices continue to fall, Hong Kong’s H-share market will drop to a lesser degree. 2. A-share plunge may have long-term repercussions on Hong Kong’s H-share market even after the A-share stabilizes. Decline in H-share market will be smaller than in A-share for three reasons: 1. H shares are cheaper and lower in P/E (price to earnings) ratio than A shares. 2. Hong Kong’s financial market is better regulated than the Mainland’s, so investors are more confident and fluctuations smaller. 3. Liquidity in the Hong Kong market is better than in the Mainland, or in other words, the former has a higher proportion of institutional investors while the latter has a higher proportion of retail investors. Normally, retail investors tend to follow mass movements while institutional investors are more inclined to long-term investments. On “Black Monday”, the A-share market fell by almost 9% while the H-share market slipped by only 3%. Interestingly, the New York stock market also plunged on the same day, which led to the plummeting of the Hong Kong stock market on the second day. The decline lasted for about half a week.
Previous adjustments of A-share market had no impact on overseas markets. But according to the above investment structure, the situation has now changed. Put more specifically; an A-share plunge may have two consequences: 1. When A-share prices continue to fall, Hong Kong’s H-share market will drop to a lesser degree. 2. A-share plunge may have long-term repercussions on Hong Kong’s H-share market even after the A-share stabilizes. Decline in H-share market will be smaller than in A-share for three reasons: 1. H shares are cheaper and lower in P/E (price to earnings) ratio than A shares. 2. Hong Kong’s financial market is better regulated than the Mainland’s, so investors are more confident and fluctuations smaller. 3. Liquidity in the Hong Kong market is better than in the Mainland, or in other words, the former has a higher proportion of institutional investors while the latter has a higher proportion of retail investors. Normally, retail investors tend to follow mass movements while institutional investors are more inclined to long-term investments. On “Black Monday”, the A-share market fell by almost 9% while the H-share market slipped by only 3%. Interestingly, the New York stock market also plunged on the same day, which led to the plummeting of the Hong Kong stock market on the second day. The decline lasted for about half a week.
A股市场的上一次调整对海外市场没有影响.但是按照上面的投资结构,目前的情况已经变了.说得更详细一点,A股的跳水可能产生两个后果：1.当A股价格持续下跌,香港的H股也要略小幅度地下跌.2.即使A股市场企稳以后,A股跳水也可能对香港H股市场产生长期影响.由于以下三个原因,H股市场的下跌会小于A股市场：1.与A股相比,H股更加便宜,市盈率更低.2.香港金融市场监管比大陆好,因此投资者信心更足,波动更小.3.香港金融市场的流动性比大陆好,或者换句话说,前者机构投资者比例更高,而后者散户投资者比例更高.通常散户投资者容易跟风而机构投资者更倾向于长期投资.“黑色星期一”那一天,A股市场惨跌近9%,而H股市场仅下跌3%.有趣的是,同日纽约股市也下跌了,引致香港股市次日跳水.该次下跌持续了半个星期.