[新聞英文] Taiwan shares close down 6.31%

Taipei, Oct. 11 (CNA)-Taiwan shares closed down 660.72 points, or 6.31 percent, at 9,806.11 Thursday on turnover of NT$205.33 billion (US$6.59 billion).

Taiwan shares plunged below the 10,000-point mark on Thursday, a day after the market was closed for the National Day holiday, falling more than 600 points in the mid-morning trading session in the wake of falling U.S. markets overnight, where the Dow Jones Industrial Average fell 831 points, its worst loss in eight months.

The benchmark weighted index on the Taiwan Stock Exchange (TWSE), or the Taiex, opened down 194.79 points at 10,272.04 before tumbling more than 500 points to below the 10,000 point mark within three minutes and continuing the downtrend, falling 662.53 points or 6.33 percent as of 11:25 a.m.

The plunge came as the Ministry of Finance (MOF) announced the stabilization fund committee could meet later Thursday to decide whether the National Stabilization Fund should enter the local equity market to prop up share prices at a time of volatility in global financial markets.

The local stock market has been under pressure amid Wall Street weakness, a weaker Chinese yuan and the local currency falling against the U.S. dollar, which has resulted in foreign exchange losses for companies listed on the local bourse.

Taiwan posted the steepest decline among markets in the Asian region last week when the Taiex fell 489.22 points, or 4.44 percent, to close at 10,517.12 Friday.

In the last session on Tuesday, the major index closed up 10.90 points, or 0.10 percent, at 10,466.83, on a technical rebound after moving between 10,428.97 and 10,503.10, on turnover of NT$120.63 billion (US$3.90 billion).

In response to the deep dive in the mid-morning trading session, Deputy Finance Minister Juan Ching-hwa, executive secretary of the stabilization fund, said at a legislative session that local shares falling below the 10,000-point mark is not a key point of consideration when deciding whether the fund should intervene in the market, but market disorder caused by irrationality among investors and a confidence crunch would be factors prompting the fund committee to authorize the stabilization fund to intervene in the market.

Meanwhile, Vice Premier Shih Jun-ji called on investors not to panic, saying that local economic fundamentals remain sound, the U.S. economy is powering ahead and the Taiex will soon bounceback over the 10,000-point mark.

Since the Taiex hit 10,007.84 points on May 23, 2017, the main board has remained above the 10,000-point level for nearly 17 months, the longest run above that level in the history of the local equity market.

註解:

share:

n. 股票

any of the equal portions into which property or invested capital is divided specificallyany of the equal interests or rights into which the entire stock of a corporation is divided and ownership of which is regularly evidenced by one or more certificates

close down:

phr. 收市時價格下跌

反義:close up

turnover:

n. 成交量

the amount of business done especiallythe volume of shares traded on a stock exchange

plunge:

v. 巨幅下跌

to descend or dip suddenly

反義:jump/surge/soar

Dow Jones Industrial Average:

n. 道瓊工業指數

測量美國股票市場上工業發展,是最悠久及最有公信力的美國市場指數之一。由華爾街日報和道瓊公司創建者查爾斯·道創造的幾種股票市場指數之一。

The benchmark weighted index on the Taiwan Stock Exchange:

n. 臺股加權股價指數

Taiwan Stock Exchange(TWSE):

n. 臺灣證券交易所(證交所)

open down:

phr. 剛開盤時下跌

tumble:

v. 巨幅下跌

to fall suddenly and helplessly

反義:jump/surge/soar

downtrend:

v. 下跌、下探

a downward turn especially toward a decline in business and economic activity

Ministry of Finance (MOF):

n. 財政部

stabilization fund committee:

n. 穩定基金委員會

National Stabilization Fund:

n. 國家穩定基金

equity:

n. 公司普通股

the common stock of a corporation

prop up:

phr. 撐起

to stop (something) from falling or slipping by placing something under or against it

volatility:

n. 波動

a tendency to change quickly and unpredictably

Chinese yuan:

n. 人民幣

currency:

n. 貨幣

something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange

foreign exchange:

n. 外匯

companies listed on the local bourse:

n. 本地股市上市公司

bourse:

n. 股票交易所

an organized market or center for trading in securities or commodities

posted the steepest decline:

排名最大跌幅

technical rebound:

技術反彈

deep dive:

phr. 跳水 、急遽下跌

Deputy Finance Minister:

n. 副財政部長

executive secretary:

n. 執行秘書

legislative session:

n. 立法會議

intervene:

v. 干預

to interfere with the outcome or course especially of a condition or process (as to prevent harm or improve functioning)

irrationality:

n. 非理性

not governed by or according to reason

prompt:

v. 促使

to move to action

Meanwhile:

adv. 與此同時

during the intervening time

Vice Premier:

n. 副總理

sound:

adj. 良好

free from flaw, defect, or decay

參考資料:

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