【星网专讯】**Bankruptcy–破产

Legal state of insolvency. An individual or organisation is declared bankrupt if a court judges that the party involved can no longer meet debt payments to creditors.
合法的无清偿能力的状态。如果法院作出判决，当事人或当事机构无法向债权人偿还债务，那么此个人或组织就被宣布破产。

**Basis point –基点

Normally one hundredth of a per cent (0.01 per cent), so 100 basis points is 1 per cent. Used in quoting movements in interest rates or yields on securities.
通常为0.01 % ，因而100个基点即1%。用于标报利率或证券收益率的变动。

**Bellwether –龙头股

A stock or other instrument considered as a key indicator of an overall trend in a particular market, business sectoror economy. Intel Corp, for instance, has traditionally been a bellwether for these miconductor industry.
被看作是某类市场、行业或经济总体走势关键指标的一种股票等金融工具。例如英特尔一向就是半导体行业的龙头股。

**Benchmark –基准

A stock, bond, interest rate,index or other basis of measurement that acts as a standard for comparison. For example,the MSCI indexes produced by Morgan Stanley International are often used as benchmarks to gauge the performance of regional mutual funds.
比较时用作标准的股票、债券、利率、指数或其他衡量基础。例如摩根士丹利发布的MSCI 指数就常常用来评估地方性共同基金业绩的基准。

**Block trade –大宗交易

A deal involving a large amount of a particular stock (called a block of shares).
大宗股票的交易

**Book-building –询价圈购

The process conducted by the investment bank leading an to ascertain potential market interest in the offer at various proposed prices. Once book-building is completed, a price can be set for the IPO.
投资银行提出多种建议价格以确定潜在的市场对报盘有多少兴趣的行为。询价圈购一旦完成，便可确定首次公开发行的价格。

**Bottom-up –自下而上的投资策略

An investment strategy that looks first at the performance of individual companies / stocks before considering general economic or market trends. The opposite approach is top-down investing.
先看个别公司或个股的业绩再考虑总体经济或市场走势的一种投资策略，与此相反的是自上而下的投资策略。

**Bubble –泡沫

When the prices of securities or otherassets rise so sharply and at such a sustainedrate that they exceed valuations justified byfundamentals, making a sudden collapselikely (at which point the bubble “bursts”).
指证券或其他资产的价格持续飘升，超出了合理的估价，从而可能会导致突然崩溃（即泡沫破裂）的情形。