China stocks end three-day plunge, surge 9.46 pct on stamp tax cut
19/9/2008 16:41
Chinese shares prices had a rare single-day sharp rebound of 9.46 percent
today, after the government decided to scrap the stamp tax on stock purchase a
day earlier among other announcements to boost the market.
The benchmark
Shanghai Composite Index finished the day at 2,075.09 points, up 9.46 percent or
179.25 points from the previous close.
The index was unchanged from the close
at midday, as most stocks had already soared to the daily upside limit of 10
percent in the morning.
The smaller Shenzhen Component Index closed at 7,154
points, up 9 percent or 590.93 points.
Xinhua
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