VOA标准英语2009年-Asian Markets Rebound After Dubai Scar

Asia reacted positively¹ Monday to word from the United Arab Emirates' central bank that it would inject money into the banking² system

Kurt Achin | Seoul 30 November 2009

The Gate building, left, of Dubai International Financial Center, DIFC, in Dubai, United Arab Emirates, 28 Nov 2009

Asian markets have rallied because of efforts in the United Arab Emirates to shore up banks hit by Dubai's debt problems.  But the region is keeping a close eye on Dubai's debt and a weakening dollar.

Asia reacted positively Monday to word from the United Arab Emirates' central bank that it would inject money into the banking system.  Dubai's neighboring emirate, Abu Dhabi, promised support for certain Dubai companies, alleviating³ concerns over Dubai debt that dragged world markets down on Friday.

In South Korea, shares on the Kospi index rose nearly 2.7 percent, while Hong Kong's Hang Seng rose more than three percent, and Tokyo's Nikkei was up almost three percent.  Gold and oil also traded at higher prices.

Kwon Hyouk-se, vice⁴ chairman of South Korea's Financial Services Commission, on Monday offered investors⁵ a message of reassurance⁶.

He says South Korea's exposure to Dubai debts is not big, and that local financial markets and the economy in general are in good shape to cushion its impact.

He adds that Seoul will strengthen a daily market monitoring system to prevent possible instability resulting from the Dubai shock.

Last week, Dubai World, the state-owned holding company responsible for much of the city-state's massive development portfolio⁷, said it needed more time to pay off nearly $60 billion in debt.  That spooked investors around the world, sending markets sharply lower.

Financial analysts⁸ say markets reacted swiftly because of the global context of the announcement. 

Sung Taeyoon is an economics professor at Seoul's Yonsei University.

He says Dubai is not big enough by itself to damage other countries, but its debt crisis can keep moving to other countries, such as Ukraine and other areas of eastern Europe which are heavily dependent on international financing. 

Market experts like Sung say memories of last year's U.S. financial crisis are still very fresh. They worry that Dubai's debt problems may cause banks to clamp down on lending that is necessary for economic growth.

The U.S. dollar strengthened slightly against the yen⁹ Monday, easing worries about Japanese exports.  The dollar has steadily¹⁰ weakened against the yen recently, making Japanese goods more expensive overseas.

Japanese Chief Cabinet Secretary Hirofumi Hirano expressed concern Monday about the currency market's effects on the country's troubled economy.

He says the yen is rising, while stocks are falling.  Japan is trying economic strategies to create jobs, but Hirano wonders aloud whether it will be enough.

The government on Monday announced plans new stimulus¹¹ spending of about $31 billion before next March.

 

1 positively   

adv.明确地，断然，坚决地；实在，确实

参考例句：

• She was positively glowing with happiness.她满脸幸福。
• The weather was positively poisonous.这天气着实讨厌。

2 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

3 alleviating   

减轻，缓解，缓和( alleviate的现在分词 )

参考例句：

• If it's alleviating pain,who knows what else it's doing? 如果它减轻了疼痛，天知道还影响什么？
• Measuring poverty is not the same as alleviating it, of course. 当然，衡量贫困和减轻贫困是截然不同的。

4 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

5 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

6 reassurance   

n.使放心，使消除疑虑

参考例句：

• He drew reassurance from the enthusiastic applause.热烈的掌声使他获得了信心。
• Reassurance is especially critical when it comes to military activities.消除疑虑在军事活动方面尤为关键。

7 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

8 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。

9 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

10 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

11 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。