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Chen Maobo pointed out that there is no inevitable relationship between the increase of stamp duty on stocks and the collapse of Hong Kong stocks.

2021-02-25T05:52:17.422Z


[Stock Stamp Duty/Budget 2021] The new "Budget" proposes to adjust the stock stamp duty rate from 0.1% to 0.13%. However, the Hang Seng Index of Hong Kong stocks plummeted after the announcement yesterday (February 24).


Research Institute

Author: Master of Number Research

2021-02-25 13:43

Last update date: 2021-02-25 13:43

[Stock Stamp Duty/Budget 2021] The new "Budget" proposes to adjust the stock stamp duty rate from 0.1% to 0.13%. However, the HSI fell sharply after the announcement yesterday (February 24). It fell more than a thousand points, and finally closed down 914.4 points, or 2.99%, falling below the 30,000-point mark.

In response to doubts that the government’s increase in stamp duty on stocks has caused Hong Kong stocks to fall sharply, Financial Secretary Chen Maobo emphasized in response yesterday that the stock market will not rise or fall for one or two days, which is bound to be related to the deduction of stamp duty. "Other stock markets in the region, Japan, South Korea, Mainland In Shanghai, all have returned (adjusted), so this time the stock market has corrected, like all stock markets, there will be ups and downs, with its fluctuations...not just Hong Kong alone."

This is the first time that Hong Kong has increased the stamp duty on stocks in the past 30 years. But does the increase in stamp duty on stocks really have nothing to do with the rise and fall of the stock market?

Can analyze one or two from the following chart.

The above chart shows that even if the Hong Kong government lowered the stamp duty on stocks several times in the past, the Hong Kong stocks have risen and fallen on the same day, or that the adjustment of stamp duty on stocks may not be completely related to the rise and fall of stocks. Today (February 25) Hong Kong stocks have rebounded. The 30,000-point mark closed at 30356.4 points at noon, up 638.16 points, or 2.15%.

Chen Maobo attended the joint radio program this morning and reiterated that there will be short-term fluctuations in stocks, which will not affect his judgment of the overall situation. He also said that to "live" the stock market is not to rely on fighting for cheap, but to innovate in policies and systems.

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01 Research Institute Budget 2021 Budget Stamp Duty Chen Maobo Hong Kong Stock Trend Hong Kong Stock Market

Source: hk1

All news articles on 2021-02-25

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