希臘債務危機升級 全球股市普跌

PARIS — Stocks slumped modestly on Monday at the opening on Wall Street, after markets in Asia and Europe were battered by worries that the Greek financial crisis would prove contagious and Chinese investors endured another topsy-turvy session.

巴黎——週一，華爾街股市開盤後股價有所下滑。在此之前，亞洲和歐洲市場擔憂希臘債務危機會持續蔓延，中國的投資者也再次經歷震盪。

The Dow Jones industrial average fell 0.67 percent, the Standard & Poor’s 500 index fell 0.65 percent, and the Nasdaq average fell 0.76 percent in early trading in New York.

在紐約的早盤交易中，道瓊斯工業平均指數下降了0.67%，標準普爾500指數下降了0.65％，納斯達克平均指數下降了0.76%。

Asian stock markets slumped on Monday as Greece’s financial difficulties triggered worry about possible broader harm to the global financial system. An interest rate cut by Beijing on Saturday failed to stem the fall in Chinese stock markets beyond the first hour of trading.

由於希臘財政困難引發對可能進一步危害全球金融體系的擔憂，亞洲股市週一暴跌。北京週六作出的下調基準利率的決定並未能阻止中國股市在開盤一小時之後開始下跌。

The euro also dropped 1.5 cents against the dollar, to a value of $1.1017, as investors worried that Greece’s troubles would have a spillover effect and make European assets less attractive.

因投資者擔心希臘的麻煩可能造成溢出效應，使得歐洲資產的吸引力降低，歐元對美元的匯率同時下跌了1.5美分，爲1歐元兌1.1017美元。

Greece has been struggling for a solution to its debt troubles for years. But the speed with which its government called a national referendum and shut its banks appeared to have caught at least some investors off guard. “Most people’s consensus forecast was for them to muddle through with some kind of a deal, so it has taken people a little bit by surprise,” said Kymberly Martin, the senior market strategist at the Bank of New Zealand.

希臘已經被尋找解決債務問題的方案困擾多年。但政府決定舉行全民公投和關閉其銀行的速度之快讓至少一部分投資者措手不及。“大部分人的普遍預測是通過某種協議矇混過關，所以這讓人感到有些驚訝，”新西蘭銀行(Bank of New Zealand)高級市場策略師金伯利·馬丁(Kymberly Martin)稱。

The Japanese stock market fell 2.4 percent in midafternoon trade; the Australian market dipped 2.2 percent; and the South Korean market was down 1.3 percent. The price of gold, an asset that tends to become more popular during times of financial or political instability, climbed $12 an ounce, to $1,185.20.

日本證券市場在下午的交易中下跌2.4%；澳大利亞股市下跌了2.2%；韓國股市也下跌了1.3%。在金融市場或政局不穩定時趨於更受歡迎的黃金價格每盎司上漲了12美元，達到了1185.2美元。

Concerns about Greece more than offset any lift from China’s interest rate cut on Saturday. China’s own stock markets were the worse performers by midday, with share prices tumbling 5.4 percent in Shanghai and 7 percent in Shenzhen, after plunging more than 7 percent on Friday.

對於希臘的擔憂抵消了中國下調利率帶來的利好。中國股市在上週五暴跌7%之後，週一上午上海股市下跌5.4%，深圳股市下跌7%，是午前所有市場中表現最差的。

The Hang Seng Index in Hong Kong had not climbed nearly as fast as mainland markets over the past year and dropped more gently than the mainland did on Monday, falling 2.7 percent in morning trading.

香港恆生指數在去年並沒有像內地股市一般快速攀升，週一的跌幅小於內地股市，在上午的交易中下跌了2.7%。

The People’s Bank of China, the country’s central bank, reduced one-year lending and deposit rates by a quarter percentage point, effective on Sunday and also reduced the reserves that some banks are required to hold, allowing them to lend more money.

自週日起，中國央行中國人民銀行將一年期存貸款基準利率降低了0.25個百分點，並且降低了部分銀行的存款準備金率，從而使這些銀行有更多的資金用來放貸。

The central bank had previously refrained from acting so quickly after a market downturn, so its action over the weekend was interpreted as a clear sign that the government was reluctant to see the Chinese stock markets lose their gains after doubling in the past 12 months.

鑑於中國央行一直以來都未在市場下跌之後立即有所行動，週末的降息降準措施被外界解讀爲釋放了明確的信號，即政府不願意看到在過去12月裏上漲翻番的中國股市轉頭下跌。

“It marks a slight departure from the previous P.B.O.C. moves, because this time it looks to be directly timed as support for the equity markets,” said Erwin Sanft, the head of China strategy in Hong Kong at Macquarie Capital Securities.

位於香港的麥格理資本證券公司(Macquarie Capital Securities）中國策略部負責人埃爾文·桑弗特(Erwin Sanft)說，“中國人民銀行的舉動和之前大相徑庭，由於這一次的時機看上去更像是支撐股市。”

But while the Shanghai and Shenzhen markets surged at the opening on Monday, they soon reversed course on sustained selling. Heavy investments with borrowed money by individuals, many of them young and with scant experience in bear markets, have propelled the mainland markets to their current heights, and market strategists have been warning for months that if confidence in the markets cracked, the ensuing fall could be swift.

儘管週一滬深股市開盤上漲，但很快兩市便開始下跌，出現持續拋盤。在過去一段時間，中國的散戶投資者靠借貸大量下注推高了股市，他們中的很多人都是年輕且缺乏熊市經驗的投資者。數月來市場策略師一直在發出警告，如果市場信心崩潰，接下來的下跌可能會非常迅速。

Rajiv Biswas, chief economist for Asia at IHS Global Insight, said that if Greece defaulted and left the euro, the effects on Europe’s economy and on exporters in Asia would depend on whether European leaders could prevent financial troubles from spreading to Spain, Portugal and possibly Italy. If the damage were not contained, economic output in Asia could drop 0.3 percent next year on lower exports to Europe, Mr. Biswas said.

環球通視(IHS Global Insight)首席亞洲經濟學家拉吉夫·比斯瓦斯(Rajiv Biswas)稱，如果希臘違約並退出歐元區，對於歐洲經濟和亞洲出口商的影響將取決於歐洲的領導人們能否阻止財政問題擴散到西班牙、葡萄牙，甚或意大利。如果損害沒有得到遏制，亞洲的經濟產出將因爲對歐盟出口的下滑而降低0.3%，比斯瓦斯說。

But Ms. Martin of the Bank of New Zealand said such calculations were not at the front of investors’ minds. “I think people are still more concerned about the immediate impact, not the longer-term effects on eurozone growth,” she said.

但新西蘭銀行的馬丁說，這樣的計算並不在投資者的考慮之中。“我認爲人們更關心短期的影響，而不是對歐元區經濟增長的長期影響，”她說。