China's stock exchanges to lower securities transaction fees -Xinhua
HONG KONG, July 1 (Reuters) - China's two major stock exchanges have decided to lower securities transaction fees after sharp falls in the Chinese stock markets, the official Xinhua news agency said on Wednesday.
Xinhua did not immediately provide any further details.
Earlier on Wednesday, China stocks tumbled, surrendering much of Tuesday's sharp gains, as investors took advantage of the rebound to reduce their leveraged positions.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 4.9 percent, to 4,253.02, while the Shanghai Composite Index lost 5.2 percent, to 4,053.70 points.
(Reporting by Meg Shen in Hong Kong and Lee Chyen Yee in Singapore, editing by David Evans)
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