中國滬港股市昨日雙雙大跌

Shares in Shanghai and Hong Kong tumbled yesterday as investors snapped up two newly listed mainland construction groups while selling down the rest of the market following reports China's central bank might rein in bank lending.

滬港兩市股指昨日均出現(xiàn)大跌。投資者紛紛搶購新上市的兩支中國內(nèi)地建筑集團股票，同時在有報道稱中國央行可能收緊銀行放貸后，拋售其它股票。

Shares in China State Construction Engineering rose by as much as 90 per cent on their debut before closing 56 per cent stronger in Shanghai. China's largest home builder had last week raised Rmb50.2bn ($7.34bn) in the world's largest initial public offering since Visa raised $19bn in March 2008.

在上海上市首日，中國建筑股份有限公司(China State Construction Engineering)漲幅一度高達90%，收盤上漲56%。這家中國最大住宅建造商上周融資502億元人民幣（合73.4億美元），為自去年3月Visa融資190億美元以來，全球最大規(guī)模的首次公開發(fā)行(IPO)。

The surge of funds into the market has reignited fears of a new bubble forming in both the property and share markets. The Shanghai Composite index has doubled since it hit bottom late last year, beating all major indices around the world.

流入股市的資金激增，已重燃人們對于房地產(chǎn)和股票市場正在形成新泡沫的擔憂。自去年末觸底以來，上證綜指已翻了一番，表現(xiàn)勝過全球所有主要股指。

Yesterday the Shanghai index sank 5 per cent to 3,266.43, after falling as much as 7.7 per cent in the day. In Hong Kong, the Hang Seng index ended down 2.4 per cent at 20,135.

昨日，上證綜指下跌5%，收于3266.43點，盤中一度下跌7.7%。在香港，恒生指數(shù)收于20135點，下跌2.4%。

The collapse of the previous bubble in Shanghai stocks, in October 2007, helped to trigger the global financial crisis. However, international reaction was muted yesterday, with European and US equity futures dipping only briefly in response to the Asian news.

2007年10月，上海股市上一個泡沫的破滅，推動觸發(fā)了全球金融危機。但國際上昨日的反應相當溫和，亞洲股市的表現(xiàn)僅使歐洲和美國的股指期貨短暫下跌。

Investors cited CSCE's exposure to China's construction and infrastructure boom in their rush to buy shares.

投資者在搶購股票時，紛紛提及中國建筑在中國基礎(chǔ)設(shè)施及建筑業(yè)繁榮中的地位。

Domestic IPOs were suspended for nine months until this month at a time when large investors in particular were flush with funds accessed through the government's economic stimulus package.

持續(xù)了9個月的中國內(nèi)地IPO禁令于本月解除，而目前大型投資者尤其資金充裕，部分資金來源于中國政府的經(jīng)濟刺激方案。

The appetite for new shares is overwhelming, with a record number of 566,937 new trading accounts opened last week, the most since January 2008.

搶購新股的意愿壓倒了一切，上周開設(shè)的交易賬戶數(shù)目達到創(chuàng)紀錄的56.6937萬，為自2008年1月以來新高。

Shares in Sichuan Expressway, the first large IPO to debut in Shanghai this year, tripled on debut before closing 203 per cent up on Monday, the first day of trading. The shares have fallen every day since by the maximum daily limit of 10 per cent.

四川成渝高速(Sichuan Expressway)為今年上海證交所的首支大規(guī)模IPO。該股在周一上市首日大漲203%。自此以后，該股天天跌停。

The market frenzy has spilled into neighbouring Hong Kong, where yesterday, BBMG, a Chinese construction material maker, saw its shares rise nearly 60 per cent in the first hour of trading.

股市狂熱已蔓延至香港。昨日，在香港首發(fā)上市的中國建筑材料制造商金隅股份(BBMG)，在交易開始后的一小時內(nèi)上漲近60%。

譯者/陳云飛