China A-shares Close Broadly Higher After Govt Denies Capital Gains Tax – AFX News

Another positive turn in China’s stock exchange. From AFX News, via Forbes:

A-shares in Shanghai and Shenzhen closed broadly higher as sentiment recovered after official denials of a rumored capital gains tax on stock trading profits, dealers said.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 114.49 points, or 3.03 pct, at 3,890.80 after moving between 3,779.50 and 3,891.40. [Full Text]

See also Slight Gains in Chinese Shares from International Herald Tribune.

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