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2011年A股已经收官,中国经济以9%以上的速度高速增长,而沪综指和深成指分别以21.68%和28.41%的跌幅报收,领跌全球主要股票市场(见图1)。形成鲜明对比的是,发生经济衰退的美国道琼斯工业指数上涨5.53%;深陷欧洲债务泥潭的德国DAX指数下跌14.69%,法国CAC指数下跌16.95%;发生大地震的日本日经指数下跌17.34%;孟买Sensex指数下跌24.64%;香港恒生指数下跌19.97%,表现均好于A股市场(见图2)。伴随指
In 2011, A-share market closed down. China’s economy grew rapidly by more than 9%. Shanghai Composite Index and Shenzhen Component Index closed down 21.68% and 28.41% respectively, leading the world’s major stock markets (Chart 1). In stark contrast, the U.S. Dow Jones Industrials index rose 5.53%, the German DAX index fell 14.69%, the French CAC index dropped 16.95%, the Japanese Nikkei index dropped 17.34% Mumbai Sensex index fell 24.64%; Hong Kong’s Hang Seng index fell 19.97%, the performance is better than the A-share market (see Figure 2). With the finger