Thursday, May 31, 2007

Chinese Investors Flock to Open Stock Accounts Even as Trading Tax Triples

(Bloomberg) -- Chinese investors opened more than
420,000 new brokerage accounts on May 30, well above the daily
average for the year, even as the government tripled the tax on
securities transactions.

A total of 426,162 accounts were set up that day, according
to the latest figures from China Securities Depository & Clearing
Corp. That's the third day in a row new accounts have exceeded
400,000. The daily average for the year is 300,000.


Read more at Bloomberg Emerging Markets News

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