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Thread: China moves to save the equities market!
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[quote=ICEBERG,324113]Yesterday, the goverment annouced to scrap the stamp tax on stock purchase while that on share selling remained unchanged at 0.1 percentand. This policy has taken effect today. Stimulated by this move, the Shanghai Composite Index rises to its daily limit, up 9.45 percent or 179.24 points to 2,075.08 points. The Shenzhen Component Index also surges, up 8.97 percent or 588.38 points to 7,151.45 points. It seems that this move is very effective. And Central Huijin Investment Co., Ltd declared on Thursday that it would it would buy shares of three major Chinese banks to stablize the stock prices. The three banks are ICBC, BOC and CCB. Seems that the central government has made up its mind to save the stock market now. Long time ago, the investors had made their request to the government, hoping it can intervene in the stock market. However, the government didn't take some effective measures. This time, affected by Wall Street financial hurricane, the governement finally took two measures to stablize the market. Good news for those investors! What if the government still doesn't take some measures? I guess that the equities market will be dead very soon. Do you think it is too late for the government to take measures to save the equities market?[/quote]
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