(Bloomberg) -- Almost half a million Chinese opened
brokerage accounts the day after the government tripled the tax on
equity transactions to cool speculation in the world's fastest-
growing stock market.
``New investors don't seem to care about the increase in the
stamp duty, as they think that's a minor increase,'' said Yan Ji,
an investment manager at HSBC Jintrust Fund Management Co. in
Shanghai, which manages $517 million. ``If the market continues the
fast pace of the rally like before, that may trigger even tougher
crackdown measures.''
Read more at Bloomberg Stocks News
brokerage accounts the day after the government tripled the tax on
equity transactions to cool speculation in the world's fastest-
growing stock market.
``New investors don't seem to care about the increase in the
stamp duty, as they think that's a minor increase,'' said Yan Ji,
an investment manager at HSBC Jintrust Fund Management Co. in
Shanghai, which manages $517 million. ``If the market continues the
fast pace of the rally like before, that may trigger even tougher
crackdown measures.''
Read more at Bloomberg Stocks News
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