Increased stamp duty causes second contraction

A sudden increase of the stamp duty of trade at China's stock exchange of 0.1 to 0.3 percent has cause a second contraction this year at the bourses, as the Shanghai stock exchange fell more than 6 percent by noon.
The increased tax on securities transactions is largely symbolic, but did not miss its effect. The tax used to be 0.6 percent but was lowered in the past as the stock markets were in the doldrums.