(Bloomberg) -- China's stocks rose for a second day
as a tripling of the tax on securities trades failed to slow the
number of new investors entering a market that's almost doubled
in value this year. Citic Securities Co. paced the advance.
``New investors don't seem to care about the increase in
the stamp duty, as they think that's a minor increase,'' said
Yan Ji, an investment manager at HSBC Jintrust Fund Management
Co. in Shanghai, which manages $517 million. ``If the market
continues the fast pace of the rally like before, that may
trigger even tougher crackdown measures.''
Read more at Bloomberg Stocks News
as a tripling of the tax on securities trades failed to slow the
number of new investors entering a market that's almost doubled
in value this year. Citic Securities Co. paced the advance.
``New investors don't seem to care about the increase in
the stamp duty, as they think that's a minor increase,'' said
Yan Ji, an investment manager at HSBC Jintrust Fund Management
Co. in Shanghai, which manages $517 million. ``If the market
continues the fast pace of the rally like before, that may
trigger even tougher crackdown measures.''
Read more at Bloomberg Stocks News
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