[SEOUL] South Korean shares plunged on Thursday after a surge in coronavirus cases and the International Monetary Fund's downgrade to global economic projections dented sentiment, while the government's proposal to expand its capital gains taxes also weighed.Several US states reported record jumps in Covid-19 cases, while the World Health Organization expects the number of global cases to touch 10 million next week.
South Korea proposed expanding its capital gains taxes to include a larger number of affluent stock investors. It would also mark a significant expansion of current rules as capital gains taxes are only applied to large shareholders with stakes exceeding 1 per cent or US$831,373 of listed stocks.BT is now on Telegram!
Source: News Formal (newsformal.com)
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