Shares of Finansia Syrus Securities (FSS) led gains for securities stocks on Wednesday, according to industry sources, based on the possibility the government may delay the implementation of the controversial financial transaction tax (FTT).
FSS shares rose 29.7% to hit a price ceiling on Wednesday as stocks of other securities firms also surged sharply.
One broker who requested anonymity said the increase was fuelled by speculation the FTT would be postponed from the middle of this year.
The cabinet in late November approved the FTT for individual stock investors, ending a four-decade waiver.
The collection is part of Revenue Department regulations that require the payment of a 0.1% specific business tax on securities trades and a related local tax of 10% of the specific business tax.
Brokers said enforcement of the FTT or share sales tax could prompt foreign…
