India's Stock Markets Plunged Sharply

By Anjana Pasricha
New Delhi
09 June 2008

VOA Standard English

India's stock markets have plunged sharply, largely on worries increasing oil prices will hurt the country's fast-growing economy. Anjana Pasricha reports from New Delhi, the Indian stock markets have been falling since worries rose about a slowdown in the U.S. economy earlier this year.

由于太担心油价上涨会给挫伤国家迅速发展的经济, 印度股市大幅下跌. Anjana Pasricha 在新德里报道说, 自从今年早些时候不断担忧美国队经济放缓, 印度股市已经下滑.

The Mumbai stock index, the Sensex, tumbled by 4.5 percent soon after trading opened. It recovered somewhat later, but had lost more than three percent by the end of the day, closing at 15,066 points.

开盘后孟买证券指数, 森塞克斯下跌4.5个百分点. 尽管后来有所回落, 但傍晚收盘于15,000点, 下跌超过3点.

The Indian stock market was the hardest hit compared to other Asian markets such as Japan, and Singapore, which also recorded losses.

与同样遭受损失的日本和新加坡股票市场相比，印度市场受打击最大深.

Analysts say the latest surge in prices of crude oil, which topped $138 a barrel last week, has raised worries that India's economy could be hit harder than estimated. India imports three quarters of its oil, and its state-owned oil companies have been losing billions of dollars since oil prices began climbing.

分析人士说, 最近原油价格上涨, 上星期每桶超过138美元, 使人们更加担心印度经济所受到的影响会比预先的更深. 印度四分之三的石油有赖进口, 而且自从油价攀升以来, 印度国有石油公司已经损失了几十亿美元.

But high oil prices are not the only factor affecting the Sensex, which has lost about 23 percent of its value since the start of the year.

但是高油价不是影响森塞克斯的唯一原因, 从今年年初以来, 森塞克斯已经损失了23个百分点.

Rajesh Jain, at Pranav Securities in Mumbai, says the steep stock-market decline has been driven by heavy selling by foreign institutional investors or FII's.

孟买普拉纳弗证券公司的拉杰什贾恩说, 外国机构投资者FII’s的大笔抛售,已经造成了股市的急剧下跌.

"Holdings are concentrated in the hands of large FII's who sell any quantity on a single day," said Jain. "To absorb that kind of quantity you may not have ready buyers at all times, and both long-term buyers and speculators are absent from the market."

贾恩说: “持有股份集中在了大型的外国机构投资者手里, 他们单在一天就能做出任何抛售.” 要消化掉这种抛售额你不可能一直拥有现成买家, 长期买家和投机商同样缺席市场.

The foreign investors have pulled approximately $5 billion from the Indian stock markets this year. They began pulling out earlier this year amid concerns that a slowdown in the U.S. economy will adversely impact emerging economies such as India.

今年外国投资者已经从印度股市几乎撤出了50亿美元. 由于担忧美国经济放缓会不利地影响印度新兴经济体, 今年早些时候他们就开始撤离.

Those worries have been intensified by the relentless rise in crude oil prices and high domestic inflation.

原油价格持续强劲上涨和国内的高通货膨胀加剧了人们的担忧.

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