Shanghai Stock Exchange via WikipediaJust when I believed the financial authorities in China could not nothing to stem the downfall of the Shanghai Stock Exchange, they did just that - at least for today. The decisions to cut the tax on trading share, as reported here by the Financial Times, lifted the index of the stock market with more than 9 percent!
The FT:
The government will reduce the tax on each share trade from 0.3 per cent to 0.1 per cent from this morning, state television reported last night.This is by all mean a symbolic gesture, after the stock market dropped 50 percent in value. All the experts say this will be a short-term effect. For sure, I will not yet return to the market (after I got out at the highest point), but investors very seldom listing to experts or watch the global markets.
No comments:
Post a Comment