ASIFMA’s Head of Equities, Lyndon Chao, in Bloomberg story “China’s Abrupt Trading Tax Cut Forces Hong Kong Into Hard Choice”
From the article –
At its first meeting on Wednesday, the task force examined data and analysis on market liquidity and investor costs, according to a statement from Tong. The discussion doesn’t exclude a potential stamp duty cut, he said.
The speedy timetable is unusual for a Hong Kong consultation process, said Lyndon Chao, head of equities and post trade at the Asia Securities Industry & Financial Markets Association, representing over 165 banks and brokers in the region.
“The timing seems aligned with the chief executive’s annual address but perhaps catalyzed by the growing concerns about market sentiment and liquidity,” Chao said.