China Halves Trading Tax In Bid To Rescue Stocks

Beijing on Sunday slashed by half a key levy on stock trades, the latest in a series of increasingly desperate measures aimed at engineering a rebound in local shares, among the world's worst performers in 2023. The decision was expected, if not guaranteed. Media reports suggested officials were studying proposals for a cut earlier this month. It's the first reduction since the financial crisis, and it's effective immediately. Last week, China's securities regulator instructed pension funds, l