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The receiver of Dick Smith says the retailer1 stores will stay open as new buyers’ thought. The electronics chain has gone into voluntary administration because it wasn’t able to get more bank loans to buy new stock after poor sales. Receiver Ferrier Hudson says the company ran out of cash recently. It says New Zealand businesses profitable and is expected to attract potential buyers.
The Chinese markets regulator is looking at new rules to restrict the sale of shares by big investors2 after yesterday’s 7% fall on the Shanghai Composite Index. The China’s Securities Regulatory Commission says the consequence suspension of trade helped calm markets. Chinese markets fell because of weak Chinese manufacturing figures and worries about the end of a limit on share sales by major investors. The Shanghai Composite opened down 3% today but recovered ground in a volatile3 power trading session.
And concerns about China’s economy hit the Australian share market and major commodities. The All Ordinaries Index lost 1.6% after a late sell-off. Miners, energy and financial stocks led the falls on the ASX 200. Big miners and big banks took a hit. JB Hi-Fi jumped more than 2% after Dick Smith’s troubles. Gold Miner Newcrest mining rose on higher gold prices. And oil and gas explorer AWE4 jumped after approved new gas field. To commodities, Tapis Crude Oil dropped below 40 US dollars a barrel. Spot gold rose as investors look for a safe haven5. And the Australian dollar increased to around 72 US cents after an overnight sell-off.
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1 retailer | |
n.零售商(人) | |
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2 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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3 volatile | |
adj.反复无常的,挥发性的,稍纵即逝的,脾气火爆的;n.挥发性物质 | |
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4 awe | |
n.敬畏,惊惧;vt.使敬畏,使惊惧 | |
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5 haven | |
n.安全的地方,避难所,庇护所 | |
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