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Thread: Stamp Tax raises to cool down the stock market
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[quote=JOHNNY512,235240]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.[/quote]
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