(Bloomberg) -- China's stocks tumbled after the
government's main securities newspaper signaled that policy
makers won't try to arrest a slump that wiped out $224 billion
of market value in the previous three trading days.
The CSI 300 Index dropped 5.5 percent to 3595.50 as of 1:50
p.m. local time. The measure, which tripled in the past 10
months, has plunged 14 percent from its May 29 peak after the
government tripled the tax on share trades to 0.3 percent. About
70 of the benchmark's members, including Huadian Power
International Corp., slid by the 10 percent daily limit today.
Read more at Bloomberg Stocks News
government's main securities newspaper signaled that policy
makers won't try to arrest a slump that wiped out $224 billion
of market value in the previous three trading days.
The CSI 300 Index dropped 5.5 percent to 3595.50 as of 1:50
p.m. local time. The measure, which tripled in the past 10
months, has plunged 14 percent from its May 29 peak after the
government tripled the tax on share trades to 0.3 percent. About
70 of the benchmark's members, including Huadian Power
International Corp., slid by the 10 percent daily limit today.
Read more at Bloomberg Stocks News
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