但就总体来说，欧洲股市今年的表现到目前为止还是逊于摩根·士丹利世界指数。

But overall European stocks have underperformed the MSCI World index so far this year.

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但是这些市场在“避险”交易中也难逃一劫，今年下跌幅度高达22%，而摩根·士丹利世界指数降幅仅为11%。

But they have still suffered in the "risk-off" trade, declining by 22% this year against an 11% fall in the MSCI World index.

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然而淡马锡的整体表现不过尔尔，而不是非常糟透的——在过去八个月中，以美元计算的37%的降幅完全符合摩根·士丹利世界指数。

Yet Temasek's overall performance has been merely mediocre rather than abysmal-the 37% drop in dollar terms over eight months is exactly in line with the MSCI world share index.

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