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Hong Kong's government increased its stamp duty on equity transactions on the city's stock exchange for the first time in almost three decades to fund a widening budget deficit, just as the world's most valuable exchange operator reported its third record year of profits. Financial Secretary Paul Chan Mo-po announced the increase in stamp duty by 3 basis points, or an increase of 30 per cent from the current fee structure, the first increase since 1993, in his budget speech on Wednesday. The change takes effect on August 1, according to two government sources. "The government will continue to spare no efforts in introducing measures to facilitate the development of the securities market, so as to take our financial services sector to the next level," Chan said. He said that the decision had been made after duly considering the impact on the securities market and international competitiveness. Get the latest insights and analysis from our Global Impact newslette

Hong kongStock tradingStamp dutyStock exchangeStock tradesSecretary paul chanGovernment revenueஹாங் காங்ஸ்டாக் வர்த்தகமுத்திரை கடமைஸ்டாக் பரிமாற்றம்ஸ்டாக் வர்த்தகம்செயலாளர் பால் சான்அரசு வருவாய்