The worst of A-share market could not be far away. Then, how bad can the HK market become??
Bear II theory is likely to collapse, as expected.......
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China Cuts Tax on Share Trading to Bolster Markets (Source: Bloomberg)
By John Liu and Zhang Shidong
April 23 (Bloomberg) -- China will cut a tax on share trading from tomorrow to support the country's stock markets after the benchmark equity index plunged 35 percent this year.
The stamp duty will be lowered to 0.1 percent, from 0.3 percent, the government said on its official Web site today.
``The government doesn't want to see a falling market, which cannot serve the purpose of fund-raising for big state companies,'' said Yan Ji, an investment manager at HSBC Jintrust Fund Management Co. in Shanghai, which manages the equivalent of about $850 million. ``We are going to see a rally.''
China's benchmark CSI 300 Index plunged this year on speculation the government will step up measures to cool inflation running at an 11-year high and on concern more stock sales will dilute the value of existing equities. The Shanghai Composite Index yesterday dropped by as much as 4 percent yesterday, taking the index 50 percent below its October record.
http://www.bloomberg.com/apps/news?pid=20601089&sid=a08g98Fl_yPo&refer=china
2 則留言:
Albert,
國內你睇幾多先訓身？
Hi Seiko,
Don't expect too big rebound. H-shares, which are in general with cheaper valuations, are more attractive. Well, this's what being reflected in today's stock market.
But 3 things can be confirmed:
1) The bottom of A-share has been formed.
2) The Bear II theory of HSI is likely to collapse, and I see many institutional investors rushing into H-shares & red-chips today.
3) Current HSI level may just be fair, people who started buying stocks between 21,000 to 23,000 should enjoy the profit. Of course, at that time (few weeks ago), what we hear is "Bear II Theory (False rebound)" around the industry.
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