帮忙翻译下经济文章3

来源：百度知道 编辑：UC知道 时间：2024/05/04 23:52:04
Previous adjustments of A-share market had no impact on overseas markets. But according to the above investment structure, the situation has now changed. Put more specifically; an A-share plunge may have two consequences: 1. When A-share prices continue to fall, Hong Kong’s H-share market will drop to a lesser degree. 2. A-share plunge may have long-term repercussions on Hong Kong’s H-share market even after the A-share stabilizes. Decline in H-share market will be smaller than in A-share for three reasons: 1. H shares are cheaper and lower in P/E (price to earnings) ratio than A shares. 2. Hong Kong’s financial market is better regulated than the Mainland’s, so investors are more confident and fluctuations smaller. 3. Liquidity in the Hong Kong market is better than in the Mainland, or in other words, the former has a higher proportion of institutional investors while the latter has a higher proportion of retail investors. Normally, retail investors tend to follow mass movements while

前调整的A股市场没有影响海外市场。但是，根据上述投资结构，现在情况已经改变。提出更具体; A股暴跌可能有两种后果： 1 。当A股价格继续下跌，香港H股市场将下降到一定程度。 2 。 A股暴跌可能有长期影响香港的H股市场即使在A股稳定。下降， H股市场将小于A股，理由有三： 1 。 H股的价格和较低的P /电子（价格收益）的比率高于A股。 2 。香港金融市场是更有效的规管内地以外的，使投资者更有信心和波动较小。 3 。流动资金在香港市场比在内地，或者换句话说，前者有较高比例的机构投资者，而后者有较高比例的散户投资者。通常情况下，散户投资者往往遵循群众运动，而机构投资者更倾向于长期投资。在“黑色星期一” ， A股市场几乎下降了9 ％ ，而H股市场下跌的只有3 ％ 。有趣的是，纽约股市也大跌的同一天，导致暴跌的香港股市的第二天。衰退持续了大约50周。