2007年5月10日 4000点：中国上证综指再创纪录

The value of shares traded on the Chinese stock market on Wednesday was greater than the rest of Asia combined - including Japan - helping the benchmark index to breach the 4,000 mark for the first time.

分析师表示，中国股市的交易额超过亚洲其它股市之和，这几乎可以肯定是历史上的头一回。

Analysts said this was almost certainly the first time that turnover at the Chinese bourse has exceeded that of the rest of Asia.


上海证交所昨天成交金额为2553亿元人民币（合332亿美元），规模稍小的深圳证交所成交金额为1216亿元人民币（合158亿美元），两者之和为490亿美元，比4月末创下的前一个历史纪录高出21%。

The Shanghai stock exchange recorded Rmb255.3bn ($33.2bn) in turnover yesterday, while the smaller Shenzhen exchange saw Rmb121.6bn ($15.8bn) worth of shares change hands, bringing the combined total for the mainland Chinese market to $49bn - 21 per cent higher than the previous record set at the end of April.

就在不久之前的3月30日，中国这两家股票交易所的总成交金额还只有164亿美元，而在6个月前的去年11月初，这一数字仅为50亿美元。

As recently as March 30, trading volume on the two Chinese markets was a combined $16.4bn, while six months ago, in early November, it was only $5bn a day.

成交额的巨幅增长，源自于散户投资者的兴趣复苏。在不到两年的时间内，中国股市已经上涨了300%。尽管政府一再发表讲话，试图为之降温，但股指仍在不断上行。

The huge increase is a result of revived retail interest in a market that has climbed 300 per cent in less than two years and continues to defy gravity, in spite of government moves to talk it down.

中国股市周三的成交金额，几乎是日本股市当日成交额（269亿美元）的两倍，而澳大利亚、香港、泰国、新加坡、马来西亚、韩国、印度、台湾、印尼、新西兰和越南等地的股市，当天的成交额之和约为165亿美元。

Wednesday's figure of $49bn was nearly double that of Japan's $26.9bn turnover yesterday, and the roughly $16.5bn combined trading volume in Australia, Hong Kong, Thailand, Singapore, Malaysia, Korea, India, Taiwan, Indonesia, New Zealand and Vietnam.

尽管中国股市的成交额尚不及美国股市（周二成交1220亿美元）的一半，但已经大大超过伦敦股市（周二为294亿美元）。

It was still less than half Tuesday's $122bn trading volume in the United States, but well above London's $29.4bn on Tuesday.

成交量的巨大增长推动基准上证综指上涨1.6%，收报于4013.09点，距离它突破3000点还不到两个月。

The huge jump in trading volume helped push the benchmark Shanghai Composite Index up 1.6 per cent to close at 4,013.09, less than two months after it passed the 3,000 mark.

考虑到中国股市尚不允许"T+0"交易（当日买即可当日卖），这一创纪录的成交金额尤为令人印象深刻。

The record turnover was all the more impressive given that day trading is not allowed in China.

巴黎银行(BNP Paribas)的分析师孟原(Isaac Meng)表示："自从年初以来，进入市场的散户资金出现巨额增长，每天新开设的股票账户达到30万个。在未来几周，成交额肯定还会继续增长。"

"Since the start of the year we've seen a surge of retail money flow into the market, and with 300,000 stock accounts being opened every day we will definitely see turnover increase more in the coming weeks," said Isaac Meng, an analyst at BNP Paribas.

在如此持续的牛市行情之后，即使是最冷静的人现在也表示，虽然目前的市盈率超过50倍，但市场仍可以继续上冲。

After such a sustained bull run even the most sober-minded are now saying the market can continue to rise in spite of prices that are more than 50 times earnings.