(Bloomberg) -- China's stocks tumbled the most in
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.
The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.
Read more at Bloomberg Stocks News
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.
The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.
Read more at Bloomberg Stocks News
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