Saturday 17 April 2021
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scmp - 2 month ago

Hong Kong raises equity trading stamp duty first time in three decades as stock exchange posts third straight year of record profit

Hong Kong’s government increased its stamp duty on equity transactions on the city’s stock exchange for the first time in almost three decades to fund a widening budget deficit, just as the world’s most valuable exchange operator reported its third record year of profits.Financial Secretary Paul Chan Mo-po announced the increase in stamp duty by 3 basis points, or an increase of 30 per cent from the current fee structure, the first increase since 1993, in his budget speech on Wednesday. The…


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