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John | 5th Jul 2009, 00:11 AM | 會考英語練習 | (544 Reads)
Read Passage A and complete the five sentences below.  Write ONE word in each space.  The key to this exercise and Passage A, with the parts relevant to the questions highlighted in yellow, are set out at the bottom of this article.

Passage A – Last-minute plunge of the stock market

Hong Kong's markets regulator has stepped in after a huge last-minute sell order yesterday caused the HSBC (0005) share price to plunge dramatically and close at a near 14-year low.

“We are aware of what has happened in the closing auction session in relation to the movement of HSBC’s share price … and we are making inquiries,” a spokesman for the Securities and Futures Commission said.

Hong Kong Exchanges and Clearing (0388) said it continues to monitor the market closely and will report any irregularities to the SFC.

HSBC shares slid 24.14 percent or HK$10.50, to close at HK$33, their lowest level since May 24, 1995.  It was the biggest one-day drop since Black Monday in 1987.

During the closing auction session, HSBC nearly doubled its earlier declines, erasing HK$127.52 billion of market capitalization in a single day.

In an online poll conducted by The Standard and its sister publication, 65 percent of 457 investors surveyed said they will not subscribe to the HSBC rights issue. 

  1.       The HSBC share price ________ to a 14-year low during the closing auction session yesterday.

2.        According to a Securities and Futures Commission ________, they ________ what had happened and they ________ making inquiries.

3.       Hong Kong Exchanges and Clearing (0388) said it would keep a close ________ on the market.

4.        HSBC ________ at HK$33.

5.        During the closing auction session, HSBC fell ________ as much as it did earlier on.

6.     457 investors were ________ in the online poll.  

Passage A (with parts relevant to the questions highlighted in yellow) - Tsang's fame spreads to the Vatican

Hong Kong's markets regulator has stepped in after a huge last-minute sell order yesterday caused the HSBC (0005) share price to plunge dramatically and close at a near 14-year low (Q 1).

“We are aware of what has happened in the closing auction session in relation to the movement of HSBC’s share price … and we are making inquiries,a spokesman for the Securities and Futures Commission said (Q2).

Hong Kong Exchanges and Clearing (0388) said it continues to monitor the market closely (Q3) and will report any irregularities to the SFC.

HSBC shares slid 24.14 percent or HK$10.50, to close at HK$33 (Q4), their lowest level since May 24, 1995.  It was the biggest one-day drop since Black Monday in 1987.

During the closing auction session, HSBC nearly doubled its earlier declines (Q5), erasing HK$127.52 billion of market capitalization in a single day.

In an online poll conducted by The Standard and its sister publication, 65 percent of 457 investors surveyed (Q6) said they will not subscribe to the HSBC rights issue. 

Answer Key

1.       The HSBC share price plunged to a 14-year low during the closing auction session yesterday.

2.        According to a Securities and Futures Commission spokesman, they knew what had happened and they were making inquiries.

3.       Hong Kong Exchanges and Clearing (0388) said it would keep a close watch on the market.

4.        HSBC closed at HK$33.

5.        During the closing auction session, HSBC fell twice as much as it did earlier on.

6.       457 investors were surveyed in the online poll.

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