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Market value of stock market down 17% in 4 trading days

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-06-05 09:37

Special coverage: Markets Watch
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The stock market capitalization has decreased 17 percent in just four trading days since last Wednesday when the stamp tax was raised at mid night to 0.3 percent.

Total market value of the two stock exchanges was 15,793.3 billion yuan by yesterday's closing, down 1,421.6 billion yuan or 8.25 percent from last Friday.

The total market value by May 29 - the day before the tax change, was 19,023.5 billion yuan. The recent plunges in share prices have erased 3,230.2 billion yuan from the stock market.

(For more biz stories, please visit Industry Updates)