0% found this document useful (0 votes)
18 views54 pages

2018年下半年展望

Uploaded by

delphi1334
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
18 views54 pages

2018年下半年展望

Uploaded by

delphi1334
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 54

(1) (2) (3) (4)

• () 1 / 0
7 % %%

• 6 4
7 % %%

• 83/ 2
6
2
- 1 0
21-Jan-18, 26,616.71 3-Jun-18, 25,316.53
27 ,00 0 3 4
1 2
26 ,00 0

25 ,00 0

24 ,00 0

23 ,00 0
18-Mar-18, 23,533.20
22 ,00 0
1-Jan-17, 19,963.80
21 ,00 0

20 ,00 0

19 ,00 0
7

8
7

8
7
7

-1 7

-17

-1 8
7

8
-17

-17
7

8
n-1

n-1

n-1

n-1
1

1
l-1
-1

-1

-1
1

1
ec
ct-
ar-

ar-
ug
pr

pr
ov
ay-

ay-
eb

ep

eb
u
u

u
a

a
1-O
1-J
1-M

1-M
1-D
1-A

1-A
1-N
1-M

1-M
1-A
1-F

1-S

1-F
1-J

1-J

1-J

1-J
2018 6 3
1-J

2,2 00
2,3 00
2,4 00
2,5 00
2,6 00
2,7 00
2,8 00
2,9 00
a n-1
7
1-F
eb
-1 7
1-M

1-Jan-17, 2,276.98
ar-
1 7
1

1-A
pr
-1 7
1-M
ay-
1 7
1-J
u n-1
7
1-J
u l-1
7
1-A
ug
-17

1-S
ep
-1 7
0
1

1-O
ct-
1
500
7
1-N
ov
2

-17

1-D
ec
-17

1-J
-

a n-1
8
1-F
eb
-1 8
21-Jan-18, 2,872.87

1-M
3

ar-
1 8
1-A
pr
4

-1 8
18-Mar-18, 2,588.26

1-M
ay-
1 8
2018 6 3

1-J
u n-1
8
3-Jun-18, 2,779.03
1-J

4,8 00
5,3 00
5,8 00
6,3 00
6,8 00
a n-1
7
1-F
eb
-1 7
1-M
ar-

1-Jan-17, 5,007.08
1 7
1-A
pr
-1 7
1-M
ay-
1 7
1-J
u n-1
7
1-J
u l-1
7
1-A
ug
-17
0

1-S
ep
-1 7
1-O
1

ct-
1
100
7
1-N
ov
-17
2

1-D
ec
-17

1-J
-

a n-1
8
1-F
eb
-1 8
21-Jan-18, 7,022.97

1-M
ar-
1 8
4-Mar-18, 7,101.18

1-A
3

pr
-1 8
1-Apr-18, 6,433.21

1-M
ay-
1 8
4

2018 6 3

1-J
u n-1
8
3-Jun-18, 7,152.62
1 -
0
29-Oct-17, 13,478.86 1 2 14-Jan-18, 13,434.45

13 ,40 0
3-Jun-18, 12,766.55

3 4
12 ,90 0

12 ,40 0

1-Jan-17, 11,599.01
11 ,90 0

18-Mar-18, 11,886.31

11 ,40 0
7

8
7

8
7
7

-1 7

-17

-1 8
7

8
-17

-17
7

8
n-1

n-1

n-1

n-1
1

1
l-1
-1

-1

-1
1

1
ec
ct-
ar-

ar-
ug
pr

pr
ov
ay-

ay-
eb

ep

eb
u
u

u
a

a
1-O
1-J
1-M

1-M
1-D
1-A

1-A
1-N
1-M

1-M
1-A
1-F

1-S

1-F
1-J

1-J

1-J

1-J
DAX 2018 6 3
1-J

6,7 00
6,9 00
7,1 00
7,3 00
7,5 00
7,7 00
7,9 00
a n-1
7
1-F
eb
-1 7

1-Jan-17, 7,210.05
1-M
ar-
1 7
0

1-A
pr
-1 7
1-M
ay-
1 7
1-J
u n-1
7
1-J
u l-1
7
1-A
ug
-

-17

1-S
ep
-1 7
1

1-O
ct-
1
100
7
1-N
ov
2

-17

1-D
ec
-17

1-J
a n-1
8
1-F
eb
-1 8
7-Jan-18, 7,778.64

1-M
ar-
1 8
1-A
4

pr
18-Mar-18, 6,921.94

-1 8
1-M
ay-
1 8
2018 6 3

1-J
u n-1
8
3-Jun-18, 7,681.07
0
-
21-Jan-18, 5,529.15 3-Jun-18, 5,450.22
5,7 00 1 2
29-Oct-17, 5,517.97 3 4
5,6 00
5,5 00
5,4 00
5,3 00
5,2 00
5,1 00
1-Jan-17, 4,909.84
5,0 00
18-Mar-18, 5,095.22
4,9 00
4,8 00
4,7 00
7

8
7

8
7
7

-1 7

-17

-1 8
7

8
-17

-17
7

8
n-1

n-1

n-1

n-1
1

1
l-1
-1

-1

-1
1

1
ec
ct-
ar-

ar-
ug
pr

pr
ov
ay-

ay-
eb

ep

eb
u
u

u
a

a
1-O
1-J
1-M

1-M
1-D
1-A

1-A
1-N
1-M

1-M
1-A
1-F

1-S

1-F
1-J

1-J

1-J

1-J
CAC 2018 6 3
-
0 14-Jan-18, 23,808.06
3-Jun-18, 22,694.50
1 2
24 ,00 0 3 4

23 ,00 0

22 ,00 0

21 ,00 0
1-Jan-17, 19,454.33
20 ,00 0 18-Mar-18, 20,617.86

19 ,00 0

18 ,00 0
7

8
7

8
7
7

-1 7

-17

-1 8
7

8
-17

-17
7

8
n-1

n-1

n-1

n-1
1

1
l-1
-1

-1

-1
1

1
ec
ct-
ar-

ar-
ug
pr

pr
ov
ay-

ay-
eb

ep

eb
u
u

u
a

a
1-O
1-J
1-M

1-M
1-D
1-A

1-A
1-N
1-M

1-M
1-A
1-F

1-S

1-F
1-J

1-J

1-J

1-J
2018 6 3
(%) 1977 1978 1986 1987 1996 1997 2006 2007 2017 2018
-3.00 0.32 -3.23 -0.59 12.77 -0.96 5.89 0.71 6.18 9.92
-1.49 1.90 -0.03 12.71 -2.06 0.58 1.05 -2.26 1.63 -6.21
-2.45 8.82 -4.09 -5.70 -1.51 -6.45 -0.71 0.76 1.56 -2.44
5.91 2.40 12.98 -1.99 0.07 2.94 5.42 2.62 2.09 2.38
0.46 2.68 -2.67 9.77 2.74 14.37 -4.82 1.55 4.25 -1.10
-0.98 17.84 -2.73 8.85 -2.16 2.97 2.58 5.52 0.41 -3.71*
-4.95 4.95 6.69 9.47 -3.08 7.69 4.33 6.49 6.05
2.36 16.32 3.10 3.81 4.47 -13.63 2.48 3.45 2.37
-2.49 -6.87 8.13 9.19 6.66 6.47 0.87 13.17 -1.49
0.17 6.31 11.95 -43.20 4.83 -29.41 4.45 15.51 2.51
0.36 -25.80 4.45 -4.54 7.34 -0.91 3.47 -8.64 3.30
-3.64 -0.78 6.18 7.69 0.43 1.86 5.30 -2.90 2.54
-9.75 22.64 46.55 -10.34 33.53 -20.29 34.20 39.31 35.99
1996 * 2018 6 22
(%) 1977 1978 1986 1987 1996 1997 2006 2007 2017 2018
3.95 6.62 7.48 10.77 13.31 6.83 6.54 8.12 6.88 11.55
4.55 2.64 5.18 13.83 4.94 6.96 4.81 7.27 5.22 11.92
4.17 9.32 8.01 10.82 11.05 9.23 3.92 6.21 5.13 7.00
5.79 5.77 15.09 7.24 4.57 7.76 7.05 6.04 4.12 5.24
3.05 4.95 5.48 11.11 6.63 14.82 10.21 4.45 5.93 5.84
3.52 18.00 2.83 9.52 4.03 10.34 6.74 8.01 2.08 7.98*
5.38 6.30 8.15 11.07 6.15 11.95 7.16 7.33 8.25
3.85 15.00 4.10 6.61 7.38 16.70 4.09 20.28 4.63
4.55 14.36 8.65 10.93 8.74 15.21 4.38 15.33 3.39
2.87 13.59 13.10 50.42 6.26 42.97 5.91 19.20 3.85
4.48 31.10 9.29 16.91 10.19 20.94 5.61 19.25 7.30
4.25 6.73 6.93 23.60 5.89 16.95 7.71 13.51 6.39
-9.75 22.64 46.55 -10.34 33.53 -20.29 34.20 39.31 35.99
1996 * 2018 6 22
&
-
Dec-98, 1,229.23
1,6 00 1,3 00
May-98, 1,411.21 Jun-98, 1,339.20
Apr-97, 1,393.75
1,4 00 1,2 00
Aug-98, 1,150.22
Sep-97, 1,097.38
1,1 00
1,2 00
Jul-97, 954.31 1,0 00
1,0 00 Dec-98, 1,146.70
May-98, 1,090.82
Apr-97, 801.34 90 0
Sep-97, 947.28 Jun-98, 1,133.84
80 0 Aug-98, 957.28
Jan-96, 537.35 80 0

60 0 Jan-96, 636.02 70 0

40 0 60 0
Apr-9 6

Apr-9 7

Apr-9 8
Fe b-9 6

Se p-9 6

Fe b-9 7

Se p-9 7

Fe b-9 8

Se p-9 8
Dec-9 6

Dec-9 7

Dec-9 8
-6

-7

-8
Nov -96

Nov -97

Nov -98
Jan -96

Jan -97

Jan -98
Ma r-96

Ma r-97

Ma r-98
Oct-96

Oct-97

Oct-98
Jun -96

Jun -97

Jun -98
Jul -96

Jul -97

Jul -98
Ma y-96

Ma y-97

Ma y-98
Aug 9

Aug 9

Aug 9
S&P 500
60
4,0 00
3 4
50.42
50
3,5 00
1 2
40
3,0 00

30
2,5 00
10% 23.60

16.91 20
2,0 00
15.09 13.83
13.10
10.77 10.82 11.11 11.07 10.93
8.65 9.29 9.52
1,5 00 7.48 8.01 8.15 7.24 10
6.93 6.61
5.18 5.48
2.83 4.10

1,0 00 0
6

7
6

7
-86

-87
6

86

87
-86

-87
6

7
-86

-87
6

7
r-8

r-8
t-8

t-8
y-8

y-8
r-8

c-8

r-8

c-8
b-8

p-8

b-8

p-8
g 8-

v-

g 8-

v-
Jan

Jan
Jul

Jul
Jun

Jun
Oc

Oc
Ap

Ap
De

De
No

No
Au

Au
Ma

Ma
Ma

Ma
Fe

Se

Fe

Se
(%)
17 ,00 0 50
3 4
16 ,00 0 42.97 45

40
15 ,00 0 1 2
35
14 ,00 0
10%
30
13 ,00 0
25
12 ,00 0 20.94
20
16.70 16.95
11 ,00 0 14.82 15.21
13.31 15
11.05 11.95
10 ,00 0 10.19 10.34
8.74 9.23 10
7.38 6.96 7.76
4.94
6.63 6.15 6.26 5.89 6.83
9,0 00 4.57 4.03 5

8,0 00 0
6

7
6

7
-96

-97
6

96

97
-96

-97
6

7
-96

-97
6

7
r-9

r-9
t-9

t-9
y-9

y-9
r-9

c-9

r-9

c-9
b-9

p-9

b-9

p-9
g 9-

v-

g 9-

v-
Jan

Jan
Jul

Jul
Jun

Jun
Oc

Oc
Ap

Ap
De

De
No

No
Au

Au
Ma

Ma
Ma

Ma
Fe

Se

Fe

Se
(%)
25

30 ,00 0
20.28
3 4 19.20 19.25 20

25 ,00 0 15.33
1 2 15
13.51

20 ,00 0 10.21
10
7.71 8.12 7.27 8.01
7.33
6.54 7.05 6.74 7.16
5.91 5.61 6.21 6.04
15 ,00 0 4.81 4.45
3.92 4.09 4.38 5

10 ,00 0 0
6

7
6

7
-06

-07
6

06

07
-06

-07
6

7
-06

-07
6

7
r-0

r-0
t-0

t-0
y-0

y-0
r-0

c-0

r-0

c-0
b-0

p-0

b-0

p-0
g 0-

v-

g 0-

v-
Jan

Jan
Jul

Jul
Jun

Jun
Oc

Oc
Ap

Ap
De

De
No

No
Au

Au
Ma

Ma
Ma

Ma
Fe

Se

Fe

Se
(%)
2010-2011
25
23.32

30 ,00 0
19.36 20
17.56

25 ,00 0
15
12.60 12.89

20 ,00 0 9.67 9.30 9.55 9.28 10


8.83
7.65 7.76 7.90
6.75 7.06 6.82
6.10 6.55
5.98 5.92 5.46
5.30
15 ,00 0 4.25 4.25 5

10 ,00 0 0
0

1
0

1
-10

-11
0

10

11
-10

-11
0

1
-10

-11
0

1
r-1

r-1
t-1

t-1
y-1

y-1
r-1

c-1

r-1

c-1
b-1

p-1

b-1

p-1
g 1-

v-

g 1-

v-
Jan

Jan
Jul

Jul
Jun

Jun
Oc

Oc
Ap

Ap
De

De
No

No
Au

Au
Ma

Ma
Ma

Ma
Fe

Se

Fe

Se
(%)
1978 1987 1997 2007

707.79 3,968.70 16,820.30 31,958.41

1978 9 1987 10 1997 8 2007 10

468.45 1,876.18 6,544.79 10,676.29

1978 11 1987 12 1998 8 2008 10

-59.22% -52.73% -61.09% -66.6%


2 3 13 12
1978 1987
1997 1998 1999 2000
1 17.11 10.62 11.70 25.52
2 17.11 12.76 13.15 26.18
3 14.48 12.54 17.89 12.33
4 14.91 11.84 21.76 11.10
5 16.95 9.88 20.75 11.00
6 17.43 9.45 23.11 12.06
7 19.20 8.83 22.62 12.55
8 16.59 8.09 23.12 13.63
9 17.48 9.18 21.72 25.52
10 12.26 12.55 22.41 26.18
11 12.07 12.80 25.50 12.33
12 12.29 12.36 27.88 11.10
10
15
20
25

0
5
Jan -74
Fe b-7 5
Ma r-76
Apr-7 7
Ma y-78
Jun -79
Jul -80
Aug 8
-1
Se p-8 2
Oct-83
Nov -84
Dec-8 5
Jan -87
Fe b-8 8
Ma r-89
Apr-9 0
Ma y-91
Jun -92
Jul -93
Aug 9
-4
Se p-9 5
Oct-96
Nov -97
Dec-9 8
Jan -00
Fe b-0 1
Ma r-02
Apr-0 3
Ma y-04
Jun -05
Jul -06
Aug 0
-7
Se p-0 8
Oct-09
Nov -10
Dec-1 1
Jan -13
Fe b-1 4
Ma r-15
Apr-1 6
Ma y-17
2018 5 31

0
5,0 00
10 ,00 0
15 ,00 0
20 ,00 0
25 ,00 0
30 ,00 0
2010 2011 2018
(%) (%) (%) (%) (%) (%)
20,121.99 -8.00 12.60 23,447.34 1.79 5.98 32,887.27 9.92 11.55
20,608.70 2.42 6.75 23,338.02 -0.47 6.55 30,844.72 -6.21 11.92
21,239.35 3.06 4.25 23,527.52 0.81 7.76 30,093.38 -2.44 7.00
21,108.59 -0.62 7.65 23,720.81 0.82 4.25 30,808.45 2.38 5.24
19,765.19 -6.36 9.67 23,684.13 -0.15 5.92 30,468.56 -1.10 5.84
20,128.99 1.84 8.83 22,398.10 -5.43 9.28 29,338.70* -3.71* 7.98*
21,029.81 4.48 7.06 22,440.25 0.19 5.46
20,536.49 -2.35 6.82 20,534.85 -8.49 17.56
22,358.17 8.87 9.30 17,592.41 -14.33 19.36
23,096.32 3.30 6.10 19,864.87 12.92 23.32
23,007.99 -0.38 9.55 17,989.35 -9.44 12.89
23,035.45 0.12 5.30 18,434.39 2.47 7.90
Ә" ⁣ $ 5.32 -19.97
* 2018 6 22
1974 1982 1994 2008 2018

1 481.86 1,445.32 12,599.23 27,853.60 33,484.08

6 399.36 1,278.56 8,758.41 22,102.01 29,338.70*


6
-17.12% -11.54% -30.48% -20.65% -12.38%*
1
150.11 676.3 7,670.83 10,676.29

12 12 12 10

-68.85% -53.21% -39.12% -61.67%


1
1974 1982 * 2018 6 22
1,0 00
1,2 00
1,4 00
1,6 00
1,8 00

0
20 0
40 0
60 0
80 0
Jan
-71
Ma
r-7
1
Ma
y-7
1

Jan-71, 220.73
Jul
-71
Se
p-7
1
No
v-
71
Jan
-72
Ma
r-7
2
Ma
y-7
2
Jul
-72
Se
p-7
2
No
v-
72
Jan
-73
Ma
r-7
3
Feb-73, 1,625.63

Ma
y-7
3
Jul
-73
Se
p-7
3
No
v-
73
Dec-73, 433.68

Jan
-74
Ma
r-7
4
Ma
Jan-74, 452.98

y-7
4
Jul
-74
Se
p-7
4
Jun-74, 399.36

No
v-
74
Dec-74, 171.11
2,0 00

Jun-81, 1,734.36
1,8 00

1,6 00
Jan-82, 1,417.42

1,4 00 Jun-82, 1,278.56

1,2 00
Dec-81, 1,405.82
Dec-82, 783.82
1,0 00

80 0 Jan-79, 543.06

Mar-80, 783.22
60 0

40 0
9

2
79

80

81

82
-79

-80

-81

-82
9

2
-79

-80

-81

-82
9

2
r-7

r-8

r-8

r-8
p-7

p-8

p-8

p-8
y-7

y-8

y-8

y-8
v-

v-

v-

v-
Jan

Jan

Jan

Jan
Jul

Jul

Jul

Jul
No

No

No

No
Ma

Ma

Ma

Ma
Se

Se

Se

Se
Ma

Ma

Ma

Ma
Dec-93, 11,888.39
13 ,00 0
Jan-94, 11,487.02
12 ,00 0

11 ,00 0

10 ,00 0

9,0 00

8,0 00 Jun-94, 8,758.41


Dec-94, 8,191.04
7,0 00

6,0 00
Jan-92, 4,601.78
5,0 00
Jan-91, 3,243.30
4,0 00

3,0 00
1

4
91

92

93

94
-91

-92

-93

-94
1

4
-91

-92

-93

-94
1

4
r-9

r-9

r-9

r-9
p-9

p-9

p-9

p-9
y-9

y-9

y-9

y-9
v-

v-

v-

v-
Jan

Jan

Jan

Jan
Jul

Jul

Jul

Jul
No

No

No

No
Ma

Ma

Ma

Ma
Se

Se

Se

Se
Ma

Ma

Ma

Ma
Oct-07, 31,352.58

Dec-07, 27,812.65
30 ,00 0

Jan-08, 23,455.74

Jun-08, 22,102.01
25 ,00 0

20 ,00 0

Jan-06, 15,753.14
Jan-05, 13,721.69

15 ,00 0
Oct-08, 13,968.67

10 ,00 0
5

8
05

06

07

08
-05

-06

-07

-08
5

8
-05

-06

-07

-08
5

8
r-0

r-0

r-0

r-0
p-0

p-0

p-0

p-0
y-0

y-0

y-0

y-0
v-

v-

v-

v-
Jan

Jan

Jan

Jan
Jul

Jul

Jul

Jul
No

No

No

No
Ma

Ma

Ma

Ma
Se

Se

Se

Se
Ma

Ma

Ma

Ma
Jan-18, 32,887.27

32 ,00 0
Dec-17, 29,919.15
30 ,00 0
Apr-15, 28,133.00

28 ,00 0
May-18, 30,468.56

26 ,00 0

Jan-14, 22,035.42
24 ,00 0

Feb-16, 19,111.93
22 ,00 0

20 ,00 0

18 ,00 0
4

7
14

15

16

17
-14

-15

-16

-17

-18
4

8
-14

-15

-16

-17
4

8
r-1

r-1

r-1

r-1

r-1
p-1

p-1

p-1

p-1
y-1

y-1

y-1

y-1

y-1
v-

v-

v-

v-
Jan

Jan

Jan

Jan

Jan
Jul

Jul

Jul

Jul
No

No

No

No
Ma

Ma

Ma

Ma

Ma
Se

Se

Se

Se
Ma

Ma

Ma

Ma

Ma
2018 5 31
1974 1982 1994 2008 2018
1 21.13 16.14 21.82 17.76 17.58
2 16.84 14.36 19.68 18.34 15.37
3 14.17 11.94 15.08 14.03 13.39
4 12.28 10.60 15.02 15.50 13.30
5 16.31 11.14 15.84 14.76 13.22
6 16.13 10.29 14.49 13.43
7 13.71 9.51 15.69 13.81
8 11.11 8.40 16.43 12.77
9 8.73 7.43 15.64 10.72
10 9.23 6.18 15.21 8.27
11 7.32 5.57 13.60 8.22
12 7.09 6.20 13.16 8.52
Nov-89, 38,915.87

38 ,00 0

33 ,00 0
Sep-91, 25,222.28
28 ,00 0 Dec-17, 23,098.29
May-96, 22,530.75
May-97, 20,604.96 Jun-15, 20,585.24
23 ,00 0
Feb-00, 20,337.32
May-07, 18,138.36
18 ,00 0

13 ,00 0 Jun-92, 15,910.28

May-95, 14,517.40 Aug-98, 13,406.39


8,0 00 Jul-75, 4,060.57
Mar-03, 7,831.42
Jan-09, 7,568.42
3,0 00
Jun -75
Jun -76
Jun -77
Jun -78
Jun -79
Jun -80
Jun -81
Jun -82
Jun -83
Jun -84
Jun -85
Jun -86
Jun -87
Jun -88
Jun -89
Jun -90
Jun -91
Jun -92
Jun -93
Jun -94
Jun -95
Jun -96
Jun -97
Jun -98
Jun -99
Jun -00
Jun -01
Jun -02
Jun -03
Jun -04
Jun -05
Jun -06
Jun -07
Jun -08
Jun -09
Jun -10
Jun -11
Jun -12
Jun -13
Jun -14
Jun -15
Jun -16
Jun -17
10 ( ) 2018 5 31
Oct-07, 20,081.75

20 ,00 0

Apr-08, 14,230.25
Apr-15, 14,431.11
15 ,00 0 Mar-11, 13,315.84

Dec-06, 10,340.36

10 ,00 0 Dec-93, 8,436.93

Aug-97, 6,349.69
Dec-03, 5,020.18 Sep-11, 8,917.36
Feb-16, 7,916.34
5,0 00 Oct-08, 6,611.15
Jun-99, 2,690.78

Jul-93, 3,769.81
Jul-96, 3,288.20 Aug-98, 1,043.55
0
-93

-94

-95

-96

-97

-98

-99

-00

-01

-02

-03

-04

-05

-06

-07

-08

-09

-10

-11

-12

-13

-14

-15

-16

-17
Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul

Jul
10 ( ) 2018 5 31
Oct-07, 5,954.77
6,0 00

5,0 00 May-15, 4,611.74

Jan-18, 3,480.83
4,0 00
Jul-09, 3,412.06

3,0 00
Jun-01, 2,218.03
Jun-99, 1,689.43
Mar-04, 1,741.62
2,0 00 Feb-16, 2,687.98
Apr-93, 1,358.78 Apr-97, 1,393.75

Oct-08, 1,728.79 Jul-13, 1,993.80


1,0 00 Oct-03, 1,348.30
Jan-91, 129.97 Jun-05, 1,080.94
Jul-94, 333.92
0
-91

-92

-93

-94

-95

-96

-97

-98

-99

-00

-01

-02

-03

-04

-05

-06

-07

-08

-09

-10

-11

-12

-13

-14

-15

-16

-17

-18
Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan
10 ( ) 2018 5 31
4

. L

1 OA 1 5 N
.G

NC 52.
(
( 1 2
2 1

3 1 2 1 (
1 3 2 ) 1
1 ( 4 1
9= :
• . 666 8 /6 . /

• . 666 8 /6 .
• •
▫ •




▫ % 0

▫ D P %
▫ 7 % 0 1 9 6

▫ 5 G4
▫ 8 2

D
• 1
▫ %P %
▫ 1
▫ 0 15
• G
▫ %P %

▫ % % 1 G









• 2
3 4
3 1 0


7
• 1
• 2
-




(
( 1 2
2 1

3 1 2 1 (
1 3 2 ) 1
1 ( 4 1













%
• A A
• , A
• 8A
• K A 3

You might also like