Kind cut for investors

The stamp tax cut that took effect yesterday should now bring to an end the hot debate on whether the government should take measures to prop up the stock market.

But the enormous excitement it triggered among investors appears to be too much for policymakers to feel comfortable about.

After tripling it at the end of last May to stop a seemingly unstoppable bullish stock rally then, the authorities announced on Wednesday the cut on tax on the trading of each share back from 0.3 percent to the previous level of 0.1 percent.