酷兔英语


While most of the world's stock markets are still trading well below their highs of 2007, a handful has bucked the trend.


世界大多数股市仍低于其2007年的高点时,少数股市却鹤立鸡群。



Six, to be precise.


准确的说,是六个股市。



Tunisia, the tiny African nation south of Italy, has been the best-performing stock market since 2007. The Tunindex, a 12-year-old index of 45 stocks, is trading 81% above its high for that year, and is up 15% for 2010. Sri Lanka is up 53% since 2007 and 36% this year.


位于意大利以南的非洲小国突尼斯股市成为自2007年以来表现最佳的股市。与2007年相比,有着12年历史、包含45支成份股的Tunindex指数涨幅达81%,2010年的涨幅达15%。与2007年相比,斯里兰卡股指上涨53%,今年涨幅36%。



The other four are Venezuela, Colombia and Chile -- Latin American countries benefiting from a rush to commodity-rich emerging markets -- and Indonesia.


其它四个股市分别为委内瑞拉、哥伦比亚、智利和印度尼西亚。前三个国家均是拉美国家,它们受益于投资者对大宗商品资源丰富的新兴市场的追捧。



The tally of performances demonstrates just how much investors have been favoring emerging markets, and the extent to which they have been willing to delve into frontier markets.


上述排名展示出投资者有多青睐新兴市场以及他们愿意钻研前沿市场的程度。



Over the past three years, emerging and frontier markets -- those markets considered so small that they don't even fit into the 'emerging' category -- are down 7.5%, according to MSCI data.


摩根士丹利资本国际公司(MSCI)数据显示,过去三年,新兴市场和前沿市场下跌7.5%。前沿市场是指那些因规模过小而甚至不符合新兴市场条件的市场。



The All-Country World Index is down nearly 11%.


所有国家全球指数(MSCI All Country World Index)跌幅近11%。



Emerging-market mutual and hedge funds had inflows of $17.3 billion in the first half of this year, according to Emerging Portfolio Fund Research.


Emerging Portfolio Fund Research的数据显示,今年上半年,173亿美元的资金流入了新兴市场共同基金和对冲基金。



Frontier markets had inflows of $780 million.


7.8亿美元流入了前沿市场。



The continued flow of funds into emerging markets, and their outperformance, shows 'a big structural shift in markets' that may be long-lasting, said Jerome Booth, head of research at London-based emerging markets specialist Ashmore Investment Management.


英国新兴市场专家──安石投资管理有限公司(Ashmore Investment Management)的研究负责人布斯(Jerome Booth)说,资金持续流入新兴市场及新兴市场的出色表现显示出国际市场出现了大的结构性转变,这或许将是长期现象。



Most developed countries are trailing badly. Of 89 nations, the U.S. -- as measured by the Dow Jones Industrial Average, which remains 31% below its 2007 peak -- ranks 40th.


大多数发达国家股市表现较差。按道琼斯工业平均指数(Dow Jones Industrial Average)衡量,美国股市仍比2007年的峰值低31%。在89个国家中排名第40。



Japan's Nikkei Stock Average of 225 companies, which is down 49% from its 2007 high, ranks 65th. The U.K.'s FTSE 100, down 27% from 2007, ranks 36th.


涵盖225家公司的日本日经平均指数(Nikkei Stock Average)比2007年的高点低49%,排名第65。英国FTSE 100指数比2007年低27%,排名第36。



The best-performing developed market in this list is Canada, which is benefiting from demand for investments exposed to natural resources.


受益于对自然资源的投资需求,加拿大成为表现最好的发达国家。



Canada's main stock-market index remains about 22% below its 2007 high.


但加拿大的主要股指仍比2007年的高点低22%左右。



The data demonstrate just how difficult it has been for markets globally to recover from the financialcrisis. It also shows how widespread the fallout has been.


这些数据显示了全球市场从金融危机中恢复的步履有多么艰难,以及下跌的广度有多大。



In many ways, it isn't surprising that some emerging markets are outperforming their more established counterparts.


在许多方面,部分新兴市场的表现优于更成熟市场并不令人惊讶。



Stocks in these countries tend to be particularly volatile and subject to big swings in investorsentiment.


这些国家的股市易于出现大幅波动,且受投资者信心的影响很大。



On average, Latin American countries have performed better in the past three years.


平均而言,过去三年,拉美国家的表现更佳。



While Venezuela, Colombia and Chile are now above their 2007 highs, Brazil, Argentina and Mexico are among countries close to break-even.


委内瑞拉、哥伦比亚和智利现在均高于2007年的高点,而巴西、阿根廷和墨西哥等国也接近于持平。



African nations during 2010 have been among the best performers, perhaps benefiting from publicity surrounding the World Cup soccer tournament being played in South Africa. MSCI's Africa index, which includes Tunisia, is up 14% this year.


2010年,或许受益于围绕着南非世界杯足球赛的宣传,非洲国家位居表现最佳股市之列。今年,MSCI的非洲指数(包括突尼斯在内)上涨14%。



'The World Cup has been a booster shot,' says Clyde Wardle, emerging-markets currency strategist at HSBC Holdings.


汇丰控股 (HSBC Holdings)新兴市场汇市策略师沃德尔(Clyde Wardle)说,世界杯是助推器。



The nations also may be piggy-backing on a big change in investorsentiment toward countries that are rich in natural resources.


投资者对天然资源丰富的国家产生了重大信心,这些国家或许也受益于此。



Both mutual and alternative-investment funds focused on Africa saw inflows for the past 43 consecutive weeks, according to data provider Emerging Portfolio Fund Research.


数据提供商Emerging Portfolio Fund Research的数据显示,关注非洲的共同基金及另类投资基金已连续43周呈资金流入状态。



By contrast, flows in the U.S. have been largely negative all year.


与之相反,美国全年的资金流多为负值。



The continent's relative resilience to the global financialcrisis has helped to draw investments.


非洲大陆对全球金融危机有着相对较强的承受力,这有助于吸引投资。



Africa is expected to expand 4.5% in 2010 and 5.2% in 2011, according to the Organization for Economic Cooperation and Development.


经济合作与发展组织(Organization for Economic Cooperation and Development)预计非洲2010年的增长率为4.5%,2011年为5.2%。



By contrast, worries about other regions are increasing. U.S. economic data has been weak, sparking concerns that the recovery may be stalling.


与此同时,投资者对世界其它地区的担忧正在加剧。美国经济数据一直较差,引发人们对复苏或将停滞的担忧。



In the U.S., the blue-chip Dow industrials index is down 7.1% this year through Friday.


截至上周五,今年美国蓝筹股指──道琼斯工业平均指数下跌7.1%。



It has fallen for the past seven sessions, its longest losing streak since the height of the global financialcrisis in October 2008.


道指在过去七个交易日一直下滑,这是自2008年10月全球金融危机到达顶峰之后持续下滑时间最长的一次。



While investors' appetite for risk has waned in recent weeks, driving investors out of stocks generally, emerging and frontier markets are still outpacing the performance of developed nations, according to MSCI indexes.


MSCI指数显示,尽管近几周投资者对风险的胃口已经减弱并纷纷逃出股市,但新兴市场和前沿市场的表现仍好于发达国家的市场。



Investors may turn to emerging markets to escape growing 'political risk'


投资者或许转向新兴市场以规避日益增强的"政治风险"。



they see in developed markets, Ashmore's Mr. Booth said, citing worries about over-regulation of banks and the potential fallout from the oil spill in the Gulf of Mexico.


安石公司的布斯说,他们认为在发达市场中,对银行业监管过度的担心以及墨西哥湾漏油事件的可能后果是一种政治风险。



'Political populism and protectionism is rising in the developed world,' he said. 'Political risk premium has been factored into developed markets equities.'


他说,政治民粹主义和保护主义正在发达国家中崛起,政治风险溢价已成为影响发达市场股票的因素之一。



Nesil Staney


Nesil Staney


  • extent [ik´stent] 移动到这儿单词发声 n.长度;程度;范围 (初中英语单词)
  • willing [´wiliŋ] 移动到这儿单词发声 a.情愿的,乐意的 (初中英语单词)
  • frontier [´frʌntiə] 移动到这儿单词发声 n.国境;边疆;边界 (初中英语单词)
  • research [ri´sə:tʃ] 移动到这儿单词发声 n.&vi.调查;探究;研究 (初中英语单词)
  • investment [in´vestmənt] 移动到这儿单词发声 n.投资;(时间等)投入 (初中英语单词)
  • industrial [in´dʌstriəl] 移动到这儿单词发声 a.工业的,产业的 (初中英语单词)
  • financial [fi´nænʃəl] 移动到这儿单词发声 a.金融的,财政的 (初中英语单词)
  • surprising [sə´praiziŋ] 移动到这儿单词发声 a.惊人的;意外的 (初中英语单词)
  • mexico [´meksikəu] 移动到这儿单词发声 n.墨西哥 (初中英语单词)
  • sentiment [´sentimənt] 移动到这儿单词发声 n.情绪;多愁善感 (初中英语单词)
  • contrast [´kɔntrɑ:st] 移动到这儿单词发声 n.对比 v.使对比(照) (初中英语单词)
  • relative [´relətiv] 移动到这儿单词发声 a.有关系的 n.亲属 (初中英语单词)
  • cooperation [kəu,ɔpə´reiʃən] 移动到这儿单词发声 n.合作;协作 (初中英语单词)
  • height [hait] 移动到这儿单词发声 n.高度;顶点;卓越 (初中英语单词)
  • appetite [´æpitait] 移动到这儿单词发声 n.欲望;食欲 (初中英语单词)
  • performance [pə´fɔ:məns] 移动到这儿单词发声 n.履行;行为;工作 (初中英语单词)
  • handful [hændful] 移动到这儿单词发声 n.一把,少数,一小撮 (高中英语单词)
  • mutual [´mju:tʃuəl] 移动到这儿单词发声 a.相互的;共同的 (高中英语单词)
  • billion [´biljən] 移动到这儿单词发声 num.万亿 (高中英语单词)
  • demonstrate [´demənstreit] 移动到这儿单词发声 v.证明;表明;示威 (高中英语单词)
  • crisis [´kraisis] 移动到这儿单词发声 n.转折点;危机 (高中英语单词)
  • brazil [brə´zil] 移动到这儿单词发声 n.巴西 (高中英语单词)
  • surrounding [sə´raundiŋ] 移动到这儿单词发声 n.周围的事物 (高中英语单词)
  • tournament [´tuənəmənt] 移动到这儿单词发声 n.比赛,锦标赛 (高中英语单词)
  • currency [´kʌrənsi] 移动到这儿单词发声 n.通货;通用;货币 (高中英语单词)
  • negative [´negətiv] 移动到这儿单词发声 a.否定的 n.否定词 (高中英语单词)
  • expand [ik´spænd] 移动到这儿单词发声 vt.张开;膨胀;扩大 (高中英语单词)
  • recovery [ri´kʌvəri] 移动到这儿单词发声 n.重获;获得;恢复 (高中英语单词)
  • streak [stri:k] 移动到这儿单词发声 n.纹理 v.用线条(条纹) (高中英语单词)
  • potential [pə´tenʃəl] 移动到这儿单词发声 n.&a.潜在的;可能的 (高中英语单词)
  • specialist [´speʃəlist] 移动到这儿单词发声 n.专家 (英语四级单词)
  • widespread [´waidspred] 移动到这儿单词发声 a.广布的;普遍的 (英语四级单词)
  • argentina [,ɑ:dʒən´ti:nə] 移动到这儿单词发声 n.阿根廷 (英语四级单词)
  • premium [´pri:miəm] 移动到这儿单词发声 n.奖励;奖金;保险费 (英语四级单词)
  • category [´kætigəri] 移动到这儿单词发声 n.种类;部属;范畴 (英语六级单词)
  • investor [in´vestə] 移动到这儿单词发声 n.投资者 (英语六级单词)
  • consecutive [kən´sekjutiv] 移动到这儿单词发声 a.连续的;连贯的 (英语六级单词)