Exchange Rate

Exchange Rate

European and US equities appeared largely inattentive to a selloff in Asia Wednesday. In Hong Kong, stocks dove 3% after the government raised the stamp-duty on stock trades for the first time in almost 18 years. The hike, from 0.1% to 0.13% came as officials unveiled next steps to help locals cope with the fallout from the pandemic. The timing left something to be desired for Hong Kong Exchanges & Clearing. The bourse reported a third annual record profit Wednesday, but thanks to news of
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One thought on “Exchange Rate

  1. If there is a worldwide small tax on financial transactions, then the US implementation of such should be no big deal. In the past the boogeyman of leverage transactions having not the face value of the option being the value of this stamp, rather the underlying value of the assets being the value of the stamp, has galvanized even the most reasonable of investors.

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