Hong Kong stocks dive on stamp duty plan

The Hang Seng Index tumbled 2.99 per cent, or 914.40 points, to 29,718.24. — AFP pic
The Hang Seng Index tumbled 2.99 per cent, or 914.40 points, to 29,718.24. — AFP pic

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HONG KONG, Feb 24 — Hong Kong shares ended with hefty losses today after the city’s finance chief said he would hike stamp duty on equity trade for the first time in almost three decades.

The Hang Seng Index tumbled 2.99 per cent, or 914.40 points, to 29,718.24.

The benchmark Shanghai Composite Index sank 1.99 per cent, or 72.28 points, to 3,564.08, while the Shenzhen Composite Index on China’s second exchange dropped 2.03 per cent, or 48.73 points, to 2,347.28. — AFP

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