VOA标准英语10月-Asian Stocks Plunge as Policymakers Seek to Shore

Asian stock markets had another rough and tumble day, even as policymakers sought to restore confidence. Leaders of advanced economies voiced concern about swings in Japan's currency, and South Korea's president outlined his agenda for getting through the global turmoil². VOA Seoul correspondent Kurt Achin reports.

Thailand suspended trading on its stock market Monday, after it plunged³ nearly 10 percent immediately after opening. The so-called "circuit breaker" was invoked⁴ to ease the latest bout¹ of panic selling. The Philippines also paused trading after stocks plunged more than 12 percent.

Hong Kong's Hang Seng index slid more than 12 percent for its lowest close in four years, and Japan's Nikkei dropped almost 6.5 percent for its lowest close since 1982.

Availability of international credit has constricted⁵ following major bank collapses⁶ in the United States. That, and predictions of a severe recession in the United States have dealt a beating to global stock markets for days. Investors⁷ have flocked to U.S. government securities and the dollar, which they perceive as safe - ratcheting up the exchange value of the dollar against Asian currencies.

Leaders of the Group of Seven advanced industrial economies, or G-7, voiced concern the Japanese yen⁸ is also becoming inflated⁹. In a joint¹⁰ statement read by Japanese Finance Minister Nakagawa Shoichi, leaders reaffirmed a "shared interest in a strong and stable international financial system."

He says excessive volatility¹¹ has an adverse¹² effect on economic aid and financial stability. We will continue, he says, to watch moves in the foreign exchange markets.

Japanese officials say they are considering a massive capital injection into the country's banking¹³ system to try to offset¹⁴ the effects of the current crisis.
　

South Korean man walks past advertisement for bank's interests in Seoul, 27 Oct 2008

In South Korea, stocks finished slightly higher - thanks to robust¹⁵ central-bank action, and a detailed¹⁶ economic policy address by the South Korean president. The Bank of Korea slashed¹⁷ its key interest rate by three quarters of a percent - the sharpest cut in South Korea's history. The only other time the South Korean central bank cut the rate was after September 11, 2001.

President Lee Myung-bak went before lawmakers in hopes of reassuring¹⁸ his citizens and international investors.

Some raise a question, says Mr. Lee, about whether we can get over this crisis. The crystal-clear answer, he says, is "Yes, we can."

Mr. Lee adds, Seoul will expand government spending "boldly" to revitalize domestic consumption. He says there will also be tax cuts, more investment in social infrastructure¹⁹, and support for small and medium-sized businesses.

President Lee quoted Depression-era U.S. President Franklin D. Roosevelt, saying the only thing to fear is fear itself. He urged South Koreans to have confidence that the lessons of the Asian financial crisis ten years ago increased the stability of their country's economy. Mr. Lee is scheduled to join other world leaders next month in Washington for a summit on the financial crisis.

1 bout   

n.侵袭，发作；一次(阵，回)；拳击等比赛

参考例句：

• I was suffering with a bout of nerves.我感到一阵紧张。
• That bout of pneumonia enfeebled her.那次肺炎的发作使她虚弱了。

2 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

3 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

4 invoked   

v.援引( invoke的过去式和过去分词 )；行使（权利等）；祈求救助；恳求

参考例句：

• It is unlikely that libel laws will be invoked. 不大可能诉诸诽谤法。
• She had invoked the law in her own defence. 她援引法律为自己辩护。 来自《简明英汉词典》

5 constricted   

adj.抑制的，约束的

参考例句：

• Her throat constricted and she swallowed hard. 她喉咙发紧，使劲地咽了一下唾沫。
• The tight collar constricted his neck. 紧领子勒着他的脖子。

6 collapses   

折叠( collapse的第三人称单数 )； 倒塌； 崩溃； （尤指工作劳累后）坐下

参考例句：

• This bridge table collapses. 这张桥牌桌子能折叠。
• Once Russia collapses, the last chance to stop Hitler will be gone. 一旦俄国垮台，抑止希特勒的最后机会就没有了。

7 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

8 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

9 inflated   

adj.（价格）飞涨的；（通货）膨胀的；言过其实的；充了气的v.使充气（于轮胎、气球等）( inflate的过去式和过去分词 )；（使）膨胀；（使）通货膨胀；物价上涨

参考例句：

• He has an inflated sense of his own importance. 他自视过高。
• They all seem to take an inflated view of their collective identity. 他们对自己的集体身份似乎都持有一种夸大的看法。 来自《简明英汉词典》

10 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

11 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。

12 adverse   

adj.不利的；有害的；敌对的，不友好的

参考例句：

• He is adverse to going abroad.他反对出国。
• The improper use of medicine could lead to severe adverse reactions.用药不当会产生严重的不良反应。

13 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。

14 offset   

n.分支，补偿；v.抵消，补偿

参考例句：

• Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
• He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。

15 robust   

adj.强壮的，强健的，粗野的，需要体力的，浓的

参考例句：

• She is too tall and robust.她个子太高，身体太壮。
• China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。

16 detailed   

adj.详细的，详尽的，极注意细节的，完全的

参考例句：

• He had made a detailed study of the terrain.他对地形作了缜密的研究。
• A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

17 slashed   

v.挥砍( slash的过去式和过去分词 )；鞭打；割破；削减

参考例句：

• Someone had slashed the tyres on my car. 有人把我的汽车轮胎割破了。
• He slashed the bark off the tree with his knife. 他用刀把树皮从树上砍下。 来自《简明英汉词典》

18 reassuring   

a.使人消除恐惧和疑虑的，使人放心的

参考例句：

• He gave her a reassuring pat on the shoulder. 他轻拍了一下她的肩膀让她放心。
• With a reassuring pat on her arm, he left. 他鼓励地拍了拍她的手臂就离开了。

19 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。