推荐回答（3个）
stir-fried shares
参考资料:
中国的证券交易市场依然如翻滚过山车，运行极其不稳定——改变还需假以时日
6月26日对深圳证券交易所来说可是一个大喜的日子，当天大族激光开始上市交易，这是该所自2000年10月以后的第一批新上市股票。但是，对于那些不只是想投机获利的投资者来说，这种快乐实在太短命。在首日狂升了367%以后，这家深圳的激光打标机生产商的股票在第二天就暴跌了10%，达到跌停限度，接下来是一个又一个跌停板。到7月7日，大族激光的股价已跌至最高价的约50%， 但仍然高于上市开盘价，不过丝毫没有稳定的迹象。该公司的一位发言人说：“股价如此大起大落不反映任何现实，它只能说明投机的存在。”对专家来说，该股与它所在的交易市场的表现一样。深圳的海通证券公司分析师张琦说：“就像是一个赌场，每个人都在投机。”
事实上，深圳证券交易所和更大的上海证券交易所都被认为不比短期交易市场强多少，因而令谨慎的投资者不敢靠近。这是一个大问题，因为中国越来越需要一个能够有效地把资金分配给高速成长的工业基地的股市。正如20世纪90年代网络经济在西方兴起时新发股的市场表现一样，中国股市的不稳定性在新发股的狂升猛跌中表露无遗。有7家公司于大族激光一起在同一天在深圳上市。每支股票在开始下跌之前都平均上涨了129.9%。
在这种股价涨涨跌跌的背后是众多的经纪商和股民，这种现象甚至还有一个名字：“炒股”，翻译成英文的大意就是“stir-fried shares”。公司的业绩又怎样呢？有些公司还可以，有些则不行（大族激光是赢利的，它宣称去年的净收入为444万美元）。不论怎么说，在中国内地股市13年的历史中，其新股的发行成功率一直都接近100%。去年，在上海上市的64支新股的平均首日涨幅是惊人的72%——而去年还是中国股市的熊市。虽然这些新股中的大多数很快便从高空跌落下来，但是有一家公司的股票除外——中国长江电力股份公司，其股票自去年10月上市以来就一直稳步上升。不过新股交易是典型的投机交易。在中国股市中，几乎没有人愿意买入并长期持有股票——这是不成熟市场的显著特征。
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