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Hong Kong property shares drop on tightening fears

Posted on 23 April 2010

From Marketwatch.com: Hong Kong property shares declined in Thursday’s morning session, as sentiment was hurt by reports that the government may tighten policies on the residential property market to discourage excessive speculation.
Most local developers declined after The South China Morning Post reported the government may increase stamp duty on flats that cost up to 20 million Hong Kong dollars ($2.56 million) and also ban deferred payments on the duty, if there is excessive speculation in such properties………………………………………Full Article: Source

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