May 30, 2007 (April 14, 2007 in the lunar calendar), 530 stock market disaster: stamp duty was increased. On May 30, 2007, the Ministry of Finance brazenly announced the increase in stamp duty from 1¡ë to 3¡ë in the early morning, causing the stock market to plummet from 4300 points to 3400 points in just one week. Many stocks encountered three consecutive daily limits. Investors suffered heavy losses due to being caught off guard, which is known in history as the "May 30 Incident." At that time, many stocks fell to the limit for 4 or 5 consecutive times. The market took two months of adjustment before it recovered. It rose again until 6124 points on October 16, 2007, and reached a historical peak. Since then, every time until May 30, investors will raise the 530 market to be wary of the need to be more cautious in investment. On May 30, 2007, affected by the increase in stamp tax rates on securities transactions, the Shanghai and Shenzhen stock markets plunged deeply. About 900 stocks in the two markets closed at the daily limit. At the same time, transactions in the A-share market also hit a record. 2007.5.30 Shanghai Stock Exchange Time-sharing Chart 2007.5.30 to 6.5 Shanghai Stock Exchange Daily K-chart Under the influence of negative news, the Shanghai Composite Index gapped at 4,087.40 points and opened lower than the closing price of the previous trading day. The sharp low opening attracted some intervention to grab the rebound funds. With its participation, the stock index experienced a strong rebound after the opening and rebounded to 4,275.24 points at around 10 a.m. However, this point also became the highest point of the Shanghai Composite Index yesterday. After 10 a.m., the market began a wave after wave of downward trends that continued throughout the day, and hit a daily low of 4,015.51 points shortly after the market opened in the afternoon, falling nearly 320 points. Since then, the Shanghai Composite Index has continued to be sluggish, closing at 4,053.09 points, a drop of 6.50%. This decline is also its largest one-day drop in the Shanghai Composite Index this year since February 27. The Shenzhen Component Index also experienced a deep correction yesterday, closing at 12,627.15 points at the end of the session, a full-day decline of 6.16%. In addition, affected by the decline in the A-share market, the B-share indices of the two cities almost closed at a daily limit yesterday. Among them, the Shanghai B-share index closed at 302.95 points, a drop of 9.00%, and the Shenzhen component B index closed at 4,985.97 points, a drop of 8.87%. Amid a large number of sell-out orders, both the Shanghai and Shenzhen stock markets hit a record number of transactions yesterday. Among them, the transaction volume in the Shanghai market was 275.50 billion yuan, while the transaction volume in the Shenzhen market was 140.83 billion yuan. Comment: This is an adjustment that goes down in history and has a far-reaching impact on China investors.