WHAT is stock price sensitive news? Ask Xiang Huaicheng, deputy commissioner of China's State Administration for Taxation. Even when pressed with the question of whether the income tax privileges enjoyed by the first batch of H shares would be scrapped, Mr Xiang remained steadfastly tight-lipped. 'It is a very sensitive question. If the Hong Kong stock market is affected by what I say, it will be my fault,' Mr Xiang said.