2006年VOA标准英语-Tokyo Stock Exchange Forced to Close Early

By Steve Herman
Tokyo
18 January 2006

For the first time, the Tokyo Stock Exchange suspended all trading early to prevent a system crash after a surge in transactions. Heavy trading followed news that an Internet company popular with investors¹ is under investigation² for fraud. The benchmark Nikkei index closed down about 465 points - nearly 3 percent for the day.

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The Tokyo bourse ended all trading 20 minutes before the scheduled end of Wednesday's session.  

A man watches a video screen showing a downturn curve of stock prices in Tokyo  
  

At a news conference in the afternoon, the exchange said it had been swamped by sell orders for a second day and warned its computers could only handle 4.5 million orders each day.

Exchange officials asked for restraint by investors and brokers³, calling the situation a potential emergency, but the announcement merely prompted an even greater spike⁴ in orders.
 
 
Chairman of Tokyo Stock Exchange Taizo Nishimuro
  
Tokyo Stock Exchange President Taizo Nishimuro says it is obvious what caused Wednesday's surge.

Nishimuro says the situation was caused by the start of the unexpected criminal probe into the Internet company, Livedoor, and its subsidiaries.

A three-day sell off has now evaporated some $300 billion worth of shareholder⁵ value. And exchange officials warn they may shorten trading hours in the days ahead if the unprecedented⁶ deluge⁷ of orders continues.

Livedoor was suspended from trading Wednesday morning because of the criminal investigation.
 

Takafumi Horie (file photo)   
  
The company grew into Japan's most famous dot-com business through mergers⁸ and stock swaps⁹ and made its chairman, Takafumi Horie, a celebrity¹⁰ and - to many young people - a national hero.

The chairman of the Japan Securities Dealers¹¹ Association, Hiroshi Hoshida, says the Livedoor founder¹² now has a lot to answer for.

Hoshida says Livedoor should feel deeply responsible for damaging confidence at a time when Japanese investors were just beginning to move their money from savings¹³ to stocks.

Media reports Wednesday say the allegations the company is facing include falsifying earnings¹⁴ results and spreading false rumors¹⁵ to manipulate stock prices.

Toyota Chairman Hiroshi Okuda, who also heads Japan's most influential¹⁶ economic group, the Japan Business Federation¹⁷, says if Horie or his company are found guilty of any crimes, they would be ousted¹⁸ from the association.

Okuda says the organization made a mistake by admitting Livedoor prematurely¹⁹.

After the early close of Wednesday's trading session some analysts²⁰ say selling pressure will continue, unless the exchange restores confidence by upgrading its computer system to handle a glut²¹ of orders. But others say many investors will realize the massive sell-off now offers a number of bargains.

1 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

2 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

3 brokers   

n.（股票、外币等）经纪人( broker的名词复数 )；中间人；代理商；（订合同的）中人v.做掮客（或中人等）( broker的第三人称单数 )；作为权力经纪人进行谈判；以中间人等身份安排…

参考例句：

• The firm in question was Alsbery & Co., whiskey brokers. 那家公司叫阿尔斯伯里公司，经销威士忌。 来自英汉文学 - 嘉莉妹妹
• From time to time a telephone would ring in the brokers' offices. 那两排经纪人房间里不时响着叮令的电话。 来自子夜部分

4 spike   

n.长钉，钉鞋；v.以大钉钉牢，使...失效

参考例句：

• The spike pierced the receipts and held them in order.那个钉子穿过那些收据并使之按顺序排列。
• They'll do anything to spike the guns of the opposition.他们会使出各种手段来挫败对手。

5 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

6 unprecedented   

adj.无前例的，新奇的

参考例句：

• The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
• A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。

7 deluge   

n./vt.洪水，暴雨，使泛滥

参考例句：

• This little stream can become a deluge when it rains heavily.雨大的时候，这条小溪能变作洪流。
• I got caught in the deluge on the way home.我在回家的路上遇到倾盆大雨。

8 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

9 swaps   

交换( swap的名词复数 )； 交换物，被掉换者

参考例句：

• He swaps his old car for a new motorcycle. 他用旧车换了一辆新摩托车。 来自英汉 - 翻译样例 - 口语
• Swaps the anchor and end points of the current selection. 交换当前所选内容的定位点和结束点。

10 celebrity   

n.名人，名流；著名，名声，名望

参考例句：

• Tom found himself something of a celebrity. 汤姆意识到自己已小有名气了。
• He haunted famous men, hoping to get celebrity for himself. 他常和名人在一起, 希望借此使自己获得名气。

11 dealers   

n.商人( dealer的名词复数 )；贩毒者；毒品贩子；发牌者

参考例句：

• There was fast bidding between private collectors and dealers. 私人收藏家和交易商急速竞相喊价。
• The police were corrupt and were operating in collusion with the drug dealers. 警察腐败，与那伙毒品贩子内外勾结。

12 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

13 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

14 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

15 rumors   

n.传闻( rumor的名词复数 )；[古]名誉；咕哝；[古]喧嚷v.传闻( rumor的第三人称单数 )；[古]名誉；咕哝；[古]喧嚷

参考例句：

• Rumors have it that the school was burned down. 有谣言说学校给烧掉了。 来自《简明英汉词典》
• Rumors of a revolt were afloat. 叛变的谣言四起。 来自《简明英汉词典》

16 influential   

adj.有影响的，有权势的

参考例句：

• He always tries to get in with the most influential people.他总是试图巴结最有影响的人物。
• He is a very influential man in the government.他在政府中是个很有影响的人物。

17 federation   

n.同盟，联邦，联合，联盟，联合会

参考例句：

• It is a federation of 10 regional unions.它是由十个地方工会结合成的联合会。
• Mr.Putin was inaugurated as the President of the Russian Federation.普京正式就任俄罗斯联邦总统。

18 ousted   

驱逐( oust的过去式和过去分词 )； 革职； 罢黜； 剥夺

参考例句：

• He was ousted as chairman. 他的主席职务被革除了。
• He may be ousted by a military takeover. 他可能在一场军事接管中被赶下台。

19 prematurely   

adv.过早地，贸然地

参考例句：

• She was born prematurely with poorly developed lungs. 她早产，肺部未发育健全。 来自《简明英汉词典》
• His hair was prematurely white, but his busy eyebrows were still jet-black. 他的头发已经白了，不过两道浓眉还是乌黑乌黑的。 来自辞典例句

20 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

21 glut   

n.存货过多，供过于求；v.狼吞虎咽

参考例句：

• The glut of coffee led to a sharp drop in prices.咖啡供过于求道致价格急剧下跌。
• There's a glut of agricultural products in Western Europe.西欧的农产品供过于求。