OSAKA POSTPONES STOCK FUTURES CONTRACT
The Osaka Stock Exchange has postponed
its planned April 6 launch of a futures contract tied to stock
market movements until after parliament considers a bill to cut
tax on futures transactions, an exchange official said.
    Opposition parties have disrupted all parliamentary
proceedings to protest government plans for a new sales tax.
    The bill would reduce the tax to 0.0125 pct of the
transaction value from the current 0.2 pct, the exchange said.
    The Osaka futures contract will be for a package of 50
issues selected from the 225 stocks that make up the Nikkei
average on the Tokyo Stock Exchange.
 REUTER
