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China Stock Prices Open 9.06% Higher Following Stamp Tax Cut
Update: 9/19/2008 11:42:00 AM Source: China Hotels


China stock prices soared 9.06 percent at opening on Friday after the government moved to scrap the stamp tax on stock purchase, effective Friday, in a move to boost the equities market.

The move came after domestic stocks fell for three consecutive days under the influence of U.S. financial market upheaval.

The benchmark Shanghai Composite Index opened at 2,067.64 points, up 171.81 points. Nearly all the stocks rose to the daily limit of 10 percent at opening.

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