Chinese Stocks Fall After Government Increases Taxes

By DAVID BARBOZA

Published: June 4, 2007

The New York Times

SHANGHAI, June 4 — China’s stock market tumbled again today in one of the biggest sell-offs in years. It followed the government’s move last week to impose higher taxes on stock trades.

Associated Press Stock investors looked at the price monitor at a securities company in Shanghai, China.

The sell-off today in Shanghai was one of the largest declines in a decade, and was nearly comparable to the sharp drop in February this year when the Shanghai Composite fell 9.9 percent after a phenomenal rise. Read more...