(单词翻译:单击)
听力文本
China stopped trading on its stock market Thursday for the second time this week.
Stock shares fell seven percent in value before trading was halted. The China Securities Regulatory Commission used its "circuit-breaker" system to keep share prices from falling even further.
The value of country's currency, the yuan, fell after the People's Bank of China pushed down its guidance rate one half of one percent. It is now 6.56 yuan for one U.S. dollar, the lowest level in almost five years.
Observers say the situation in both the stock and money markets could worsen in the coming days.
On Thursday, the Chinese stock market fell five percent shortly after opening, and then another two percent in just one minute after the time-out.
Some investors are blaming the commission for developing the circuit-breaker rules. The measures force the stock exchange to halt trading for 15 minutes if share prices fall five percent. The exchange is forced to close for the day if prices drop seven percent or more.
Chinese officials enacted the rule to cool the market, but it ended up causing concern among investors, says Johnny Fang. He works for Z-Ben Advisors, a financial advisory service.
"The effect on the market is opposite of what was expected. Investors regard the circuit breaker as an accelerator for the bear market," he added.
This also affected stock markets around the world. The leading measure of American stocks fell more than two percent Thursday. The Dow Jones Industrial Average closed down nearly 400 points.
Investors are worried about China's economy and falling world oil prices.
Late Thursday, China's regulators met to decide whether they should use the circuit breaker on Friday or not. They decided against using the system.
A spokesman for the regulatory commission said "the negative effect of the mechanism outweighed its positive effect."
The Shanghai and Shenzhen exchanges will not use the circuit breaker on Friday.
I'm Dan Friedell.
词汇解释
1.halt vi. 停止；立定；踌躇，犹豫 n. 停止；立定；休息 vt. 使停止；使立定
Striking workers halted production at the auto plant yesterday.
昨天，汽车厂的罢工工人完全停止了生产。
2.circuit-breaker n. 断路器；断路开关
There is an internal circuit breaker to protect the instrument from overload.
内置有断路器，防止设备过载。
3.time-out n. 休息时间，暂停
After a time-out, Stockton’s three-point attempt hit the rim and bounced away, giving the Bulls their sixth NBA title in 8 years.
暂停之后，斯托克顿的三分弹框而出，芝加哥公牛赢得了8年中的第六个NBA总冠军。
4.accelerator n. 油门；催化剂；[机] 加速装置
He eased his foot off the accelerator.
他把脚慢慢移离了油门。
5.outweigh vt. 比…重（在重量上）；比…重要；比…有价值
The advantages of this deal largely outweigh the disadvantages.
这笔交易的利远大于弊。
内容解析
1.The value of country's currency, the yuan, fell after the People's Bank of China pushed down its guidance rate one half of one percent.
push down 下推；叠加
The parents are complaining that some unpopular subjects are being pushed down the students'throats.
家长们抱怨学校强迫学生学一些不受欢迎的学科。
The grass had been pushed down in places where people had been lying.
人们躺过的那些地方，草都被压倒了。
2.Chinese officials enacted the rule to cool the market, but it ended up causing concern among investors, says Johnny Fang.
end up 最后来到；到头来
She fled with her children, moving from neighbour to neighbour and ending up in a friend's basement.
她和她的孩子们逃走了，从一家邻居转到另一家，最终来到一个朋友家的地下室。
Every time they went dancing they ended up in a bad mood.
每次他们去跳舞，到头来总是扫兴而归。
参考译文
中国股市周四停止交易，这是本周的第二次。
在交易暂停之前，股价下跌了7%。中国证监会利用“熔断”机制来防止股价进一步下跌。
人民币在中国央行将指导利率调低了0.5个半分点后开始下跌，目前兑换一美元需要6.56元人民币，这是近五年来人民币价值最低的水平。
观察家称未来几天股市和货币市场还将继续恶化。
周四，中国股市在开盘后不久就下跌5%，然后在暂停交易的一分钟后又下跌两个百分点。
一些投资者就制订熔断机制一事谴责证监会，如果股价下跌5%，该机制就会迫使证交所停止交易15分钟，如果股价下跌7%以上，证交所就要被迫停止交易一天。
就职于财政咨询公司Z-Ben Advisors的强尼·方说，中国官方制订该措施是为了给市场降温，但却令投资者们担忧。
“熔断机制对市场的影响与预期相反，投资者认为熔断机制是熊市的加速器。”
该机制还影响了全世界的股市，周四美国股市主要指数下降了2%以上，道琼斯工业指数下跌了近400点。
投资者担心中国经济和全世界油价的下跌。
上周四，中国监管部门开会商议周五是否使用熔断机制，他们最终决定不再使用该机制。
证监会发言人称“该机制的负面影响大于积极影响”。
上海和深圳交易所周五将不再使用熔断机制。
我是丹·费力德里。
