Taiwan stocks exploded yesterday with an all-time record volume of 767.5 billion yuan, making investors worried about whether the market will collapse. This is definitely not a normal phenomenon, as Taiwan stocks have become like a super casino, and the Ministry of Finance and the Financial Supervisory Commission should take it seriously.
Xie Jinhe said in a Facebook post today, in 1987, Taiwan stocks just on the thousand points, the volume of more than 1 billion even if the sky, in 1985 before and after the ten letter storm, the market turnover of 200 million a day is already considered a sky, and then the volume of more than 100 billion has become the norm, since April this year, there are 9 trading days more than 400 billion, we also feel incredible, now run out of a 767.5 billion yuan, many people saw yesterday The amazing volume of yesterday, scared to pull their legs and run, we all feel that Taiwan stocks may be collapsing, hurry to hold the shares out, the market veterans are looking dumbfounded.
The market veterans were dumbfounded. Xie Jinhe pointed out that he saw the pawn trading volume up to 484.721 billion yuan, the total number of households involved in the pawn 1,522,200 households, know that this sky volume is the pawn customers rush out, the problem will not be very big, but for this pawn surfaced the problem, it seems worthwhile to review the face of everyone.
Xie Jinhe said, after the Xiaoying government took office, in order to boost the stock market, in April 26, 2017 through the pawn tax reduction, the tax rate from three thousandths of a percent cut in half, pawn gradually active, 2016 pawn accounted for 9.63% of the market share, 17 years rose to 18.67%, 18 years to 28.9%, 19 years to 26.26%, last year rose 31.04%, if you use yesterday’s 4847 billion to calculate, the proportion of 63.15% of the proportion of pawn trading, which is definitely not a normal phenomenon.
Xie Jinhe believes that the pawn is hot, the flavor of the stock market investment is gradually thin, but has become like a super casino, the government is like the head of the dealer, last year’s tax revenue of up to 89.9 billion, the first quarter of this year to 55.9 billion yuan in taxes, this draw is too good to earn. “Now when the rush is so hot, still need the tax burden cut in half of the incentives? This pawn punch tax reduction ends before the end of this year, and will continue again?”
Xie Jinhe stressed that in the past decades, he often called on the government to reduce taxes for long-term investors, for example, a company whose shares are held for more than five or ten years should be able to get tax relief, but the government has reversed the rent tax cut in half for pawnshop speculators and taxed long-term investors heavily, this imbalanced scene, when Taiwan stocks appeared 765.7 billion days, 484.7 billion pawnshop huge volume, the Ministry of Finance and the FSC should Moreover, President Su and President Tsai should also pay attention to the hidden problems behind this figure!
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