The Micex fell 1.6 percent today and the ruble dropped as much as 0.9 percent to its weakest level against the dollar in a week.

Micex股指今天下跌了1.6%，卢布兑美元下跌了0.9%，跌至一周来最低位。

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Russian stocks are inexpensive, said Conway. Russia’s Micex index, up 78 percent this year, trades at 8.65 earnings, less than half of the MSCI emerging-markets gauge.

俄罗斯股票不贵，康威说，俄罗斯的莫斯科银行间外汇交易所指数（Micex Index）今年上升了78%，盈利率8.65，比摩根士丹利资本国际公司(MSCI)新兴市场标准的一半还少。

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Even after recent one-day rallies, the dollar-denominated RTS index and the rouble-denominated MICEX index have shed around two-thirds of their value since mid-May (see chart).

即使是在近期股市出现一天内反弹之后，美元主导的RTS指数，和卢布主导的MICEX指数也已经字五月中旬开始约贬值三分之二(如图)。

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Since the Moscow Exchange had its IPO, Russian markets fell noticeably on crude oil, and last week the MICEX index dropped to the lowest level since November 2012.

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