Shanghai rebounds after authorities douse rumours – AP

The domino effect is to be seen following China’s Black Tuesday.

From AP, via The Sydney Morning Herald:

Chinese regulators shifted into damage control, denying rumours of plans for a 20 per cent capital gains tax on stock investments as share prices recovered modestly today following their worst plunge in a decade.

About an hour after trading began, the Shanghai Composite Index was up 1.2 per cent to 2,804.28 after opening down 1.3 per cent.

Yesterday, it tumbled 8.8 per cent, its largest decline since February 18, 1997.

Concerns about slowdowns in the Chinese and US economies sparked Wall Street’s worst drop since the September 11, 2001 terror attacks. [Full Text]

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.