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(单词翻译:双击或拖选)
An employee of Korea Stock Exchange reacts in front of a screen showing raising Korean benchmark stock index in Seoul, 08 Dec 2008 |
The rally began late Friday on Wall Street and gained momentum4 in Asia on Monday. Hong Kong's main market index gained nearly nine percent to a seven-week high and Tokyo was five percent higher. The rally continued in Europe with the main indexes in London and Frankfurt up substantially.
At midday on Wall Street, the Dow Industrials were up 250 points, reaching their highest level since early November.
Global markets have been in a tailspin for the past three months as the 16-month-old financial crisis began to impact global economies. Job losses have been accelerating with half a million jobs lost in the United States during November.
Analysts5 say the U.S. rally is being spurred by hopes the White House and Congress are close to an agreement on short-term assistance to the beleaguered6 American car companies. General Motors and Chrysler say that without emergency aid they will run out of money by the end of the month.
Meanwhile, France announced plans for increased government spending and President-elect Barack Obama says he will move quickly on an estimated $500-billion spending program.
At a conference in Washington, the U.S. Treasury7 housing expert said delinquencies on home mortgages are continuing to rise even where lenders lowered the interest rates charged to borrowers. At the same conference, the vice-chairman of the Federal Reserve, Donald Kohn, says the banking8 industry is still under immense pressure.
"Large losses taken by financial institutions and investors9 mostly, but not entirely10 from mortgage related assets, have increased uncertainty11 and undermined confidence. These events have caused lenders to greatly tighten12 lending conditions to households and businesses," he said.
On the commodities markets, oil prices rebounded13 from the sharp losses of last week when prices fell 20 percent.
1 coordinated | |
adj.协调的 | |
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2 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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3 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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4 momentum | |
n.动力,冲力,势头;动量 | |
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5 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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6 beleaguered | |
adj.受到围困[围攻]的;包围的v.围攻( beleaguer的过去式和过去分词);困扰;骚扰 | |
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7 treasury | |
n.宝库;国库,金库;文库 | |
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8 banking | |
n.银行业,银行学,金融业 | |
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9 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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10 entirely | |
ad.全部地,完整地;完全地,彻底地 | |
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11 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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12 tighten | |
v.(使)变紧;(使)绷紧 | |
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13 rebounded | |
弹回( rebound的过去式和过去分词 ); 反弹; 产生反作用; 未能奏效 | |
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