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(单词翻译:双击或拖选)
Fears over the extent of U.S. financial woes1 have rattled2 Asian markets, despite U.S. government attempts to shore up investor3 confidence. Heda Bayron reports from Hong Kong.
Woman walks by electronic stock board in downtown Tokyo, 15 Jul 2008, as Japanese shares fell sharply
Stocks in Asia fell sharply Tuesday. Hong Kong's Hang Seng index plummeted4 nearly four percent, while Japan's benchmark Nikkei 225 index fell two percent to its lowest level in more than three months.
Across Asia, analysts5 say investors6 dumped shares, worried about the health of the U.S. financial sector7 and its effect on Asian companies.
Kingston Lin, associate director at Prudential Brokerage in Hong Kong, says the U.S. government's move to help troubled mortgage lenders Fannie Mae and Freddie Mac failed to dispel8 those fears.
"It's useless, because the confidence is not coming back. So I think the market will continue to drop," he said.
The two lenders hold or guarantee about half the outstanding mortgages in the United States.
The Federal Reserve and the Treasury9 Department promised short-term funding and other aid Sunday.
Shares in Asian banks were big decliners Tuesday, as investors feared possible exposure to Freddie Mac and Fannie Mae debt.
Japan's biggest banks, Mitsubishi UFJ Financial Group and Mizuho Financial Group, both dropped about five percent. Japanese media reported that the two banks hold significant amounts of Freddie Mac and Fannie Mae bonds.
Shares in China's biggest bank, ICBC, also declined more than five percent.
Taiwan's weighted index closed four and a half percent lower to a 22-month low. Taiwan financial institutions hold an estimated $23 billion in Fannie Mae and Freddie Mac bonds.
South Korea's KOSPI fell 3.2 percent, to its lowest close in 15 months.
U.S. Federal Reserve Chairman Ben Bernanke and Treasury Department Secretary Henry Paulson are to testify before Congress Tuesday on the current financial turmoil10.
1 woes | |
困境( woe的名词复数 ); 悲伤; 我好苦哇; 某人就要倒霉 | |
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2 rattled | |
慌乱的,恼火的 | |
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3 investor | |
n.投资者,投资人 | |
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4 plummeted | |
v.垂直落下,骤然跌落( plummet的过去式和过去分词 ) | |
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5 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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6 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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7 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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8 dispel | |
vt.驱走,驱散,消除 | |
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9 treasury | |
n.宝库;国库,金库;文库 | |
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10 turmoil | |
n.骚乱,混乱,动乱 | |
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