Stamp Tax raises to cool down the stock market

Stamp Tax raises to cool down the stock market
May 31, 2007 02:21
JOHNNY512 Points: Join Date: Nov 29, 2004 Status: offline	On May 30th, the ministry of Finance announced to raise tehe stamp tax on securities trading-the amount of tax paid when buying or selling shares from 0.1% to 0.3%. The main purpose is to cool down China's stock market. The benchmark Shanghai Composite Index dropped 6.5% from the previous close, Shenzhen Component Index down 6.16 percent and the Hushen 300 Index down 6.76 percent. The investors reacted differently to this move. Some think the purpose is right to stabalize the stock market. Others are worried about the stock market and say that it has a limited effect. Personally I think some micro contral measures are needed to regulate the market.

May 31, 2007 02:21

JOHNNY512
Points:
Join Date: Nov 29, 2004
Status: offline

On May 30th, the ministry of Finance announced to raise tehe stamp tax on securities trading-the amount of tax paid when buying or selling shares from 0.1% to 0.3%.

The main purpose is to cool down China's stock market. The benchmark Shanghai Composite Index dropped 6.5% from the previous close, Shenzhen Component Index down 6.16 percent and the Hushen 300 Index down 6.76 percent.

The investors reacted differently to this move. Some think the purpose is right to stabalize the stock market. Others are worried about the stock market and say that it has a limited effect.

Personally I think some micro contral measures are needed to regulate the market.

May 31, 2007 22:42	#1
KEVIN0518 Points: Join Date: Mar 13, 2007 Status: Offline	Anyway, the purpose is good. Hope the stork market could have a steady development.

Jun 1, 2007 02:31	#2
MAY001 Points: Join Date: Sep 28, 2005 Status: Offline	Useless. Today's news showed that the mark has came back to 4000, again.

Jun 1, 2007 04:31	#3
FRANKENSTEIN Points: Join Date: Nov 29, 2004 Status: Offline	If the situation goes on without changes, surely China's stock market will be in trouble.

Jun 1, 2007 09:56	#4
APAULT Points: Join Date: Mar 11, 2006 Status: Offline	With the current attitudes, the change is irrelevant. It is a minor cot out of the big profits people think they will make.

Jun 22, 2007 04:34	#5
LEONARDO Points: Join Date: May 21, 2007 Status: Offline	Many peple view purchasing stock as a shortcut to make money. Hey, be careful, you may be trapped.

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