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Hong Kong Slashes Stamp Duties For Stock Trading First Time In 22 Years

CHINA PRESS
MNI (Singapore)

Hong Kong will cut the stamp duty on stock transactions to 0.1% from 0.13%, Chief Executive John Lee Ka-chiu said in his annual policy address on Wednesday. A 10bp cut on stamp duty will help increase the spot market trading volume by about 10-12%, according to a research note by Goldman Sachs. Other measures to boost the competitiveness of Hong Kong's capital market include establishing funds to invest in projects related to the Greater Bay Area, promoting the listing of overseas issuers, facilitating the repurchase of shares by listed companies, and promoting yuan-denominated transactions of Hong Kong stocks. (Source: Shanghai Securities News)

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