Reborn in Hong Kong as a Tycoon

Chapter 173
4 month 13 day.

Today is Haruko Mori's birthday, but for most people, today is just an ordinary day.

However, for the Hong Kong stockholders who hold Hutchison Whampoa stocks in their hands, today is a day of suffering and pain.

Without any sign, after the market opened this morning, the stock price of Hutchison Whampoa continued to fall. A large number of sell orders appeared in the market, and the funds for buying could not be supported at all, and there was no decent rebound in the middle.

Originally, as of yesterday's close, Hutchison Whampoa had fallen to 6.15 Hong Kong dollars per share, and the total market value was less than 25 billion Hong Kong dollars.

When the stock price fell to around HK$6 per share this morning, a lot of bottom-hunting funds entered the market, trying to fight for a rebound, but unfortunately there was no rebound at all.

In the process, some of the funds previously bought at the bottom became the assistants of the short side, and some people chose to cut their meat and leave the market and sell their stocks.The T+0 model of Xiangjiang stock market allows unlimited transactions per day, with continuous buying and selling.

Some people cut their flesh and left the market, and some people were so heartbroken that they couldn't breathe because they fell too much. They decided to take another look, looking forward to the emergence of a rebound.

At the end of the morning session, the stock price of Hutchison Whampoa fell to 5.45 Hong Kong dollars, and the drop reached 11.38% in the morning, which directly dropped the market value of 2.8 million Hong Kong dollars. Now the total market value of Hutchison Whampoa is less than 22 billion Hong Kong dollars.

With such a big drop in the morning, the total market value has dropped by nearly 3 million Hong Kong dollars. It is difficult for the stock price of Hutchison Whampoa to not attract attention. Many people wonder why the stock price of Hutchison Whampoa can fall so much.

Since Lin Baicheng became the owner of Hutchison Whampoa, the stock price of Hutchison Whampoa has been falling, but usually it only drops by one or two points a day, and occasionally it drops by three points. The drop is not too big. People can also think that the market is not optimistic about Lin Baicheng, and it is the market's choice.

But with a drop of more than 10% in early trading today, after Lin Baicheng took over Hutchison Whampoa, the company's stock price has dropped by more than 20%, which is already a huge drop for a big guy like Hutchison Whampoa.

When the market opened in the afternoon, more bottom-hunting funds entered the market and bought Hutchison Whampoa shares. The stock price rebounded immediately after a slight drop. This time the stock price finally ushered in a wave of rebound.

HK$5.6 per share, HK$5.7 per share
Constantly rushing upwards, it looks like it is about to rush to 6 Hong Kong dollars per share.

"I knew there would be a rebound, and it was true!"

Looking at the rising stock price, Chen Baocai said proudly to his friend beside him.

The friend gave Chen Baocai a thumbs up: "Brother Bao, you are amazing and have a good eye!"

At noon, Chen Baocai, who noticed the sharp drop in Hutchison Whampoa, realized that the stock had fallen sharply recently, and thought that the stock price would rebound soon, so he decided to buy the bottom and enter the market.

A few months ago, Chen Bao made a lot of money by investing in the Wharf stock. After the year, because the annual reports of various companies last year were quite good, the Hang Seng Index went up, and most stocks went up, so he made money again. Not a lot.

Now, Chen Baocai has 12 Hong Kong dollars in funds, which has more than doubled compared to a few months ago. His amount of funds is already considered large among retail investors.

Most of the stockholders in Hong Kong in this era have a share capital of only a few thousand Hong Kong dollars. After all, this is an era when the average monthly salary is only about 500 Hong Kong dollars.

Someone asked: "Brother Bao, it has rebounded by more than six points, do you think we should sell it?"

"I only bought one-third of the position. Unless the stock rises to near yesterday's closing price today, I'm not going to sell it. I'm going to hold it for a while and fight for a long-term rebound. As for you, it's up to you My own position, and what I think."

Chen Baocai told the truth, without specifying what to do.After all, if you are right, you will only get a thank you, but if you are wrong, you will be blamed.

When the stock price rebounded to around 5.8 Hong Kong dollars, it encountered pressure. Every time it broke through 0.01 Hong Kong dollars, the stock price had to be refreshed several times. Obviously, selling pressure began to appear.

Although the stock price is still rising, it has lost its previous momentum.

Chen Baocai has also learned a lot recently, so upon seeing this, he said: "Now is the key position. If we can break through, there will definitely be a lot of gains, but if we can't break through, we will adjust it immediately."

After hearing this, those who decided to make money in their pockets chose to sell their stocks, but there were also people who chose to hang out with Chen Baocai, hold on for a while, and fight for a long-term rebound.

After the opening of the market in the afternoon, the Qi Dezun family, Bob and others did not sell stocks for the time being, because the selling pressure was too heavy and the stock price was too low, which was not good for them. After all, they still had a lot of stocks that had not been sold.

However, after the stock price rebounded above HK$5.8, they began to sell the stock, and sold slowly, so that the stock price rose at a slower rate.

When the stock price reached 5.85 Hong Kong dollars, Bob and the others increased their orders to sell stocks and increased their shipments, and the stock price soon turned into a consolidation and downward trend.They cannot let the stock price rise any further. If it rises further, it will be equivalent to a rebound of 10% from the lowest point in the afternoon.

Therefore, when Bob and the others shipped a large number of stocks, the stock price immediately began to plummet. No matter whether it was bottom-hunting or cover-up funds, they couldn’t catch the selling at all. They swallowed the previous rebound in less than 10 minutes, and the stock price continued to fall.

"How did this happen? This is Hutchison Whampoa. The previous four foreign firms must have fallen too much, right?"

Looking at the falling stock price, Chen Baocai was very puzzled.Hutchison Whampoa's performance last year was obviously very good, but now it's just a change of controller. Even if everyone is not optimistic about Lin Baicheng, the controller, there is no reason for the stock price to fall so much.

Chen Baocai was wondering whether Hutchison Whampoa had an unknown big profit that retail investors like them didn't know about. Otherwise, how could a large company with a market value of more than two billion Hong Kong dollars have fallen so much.

Time passed, and seeing that the stock price of Hutchison Whampoa was not supported at 5 Hong Kong dollars, Chen Baocai gritted his teeth and went to cover the position of 4 Hong Kong dollars, reducing the cost price to 5.23 Hong Kong dollars per share.

The stock price of Hutchison Whampoa did not rebound because of Chen Baocai's cover. As of today's close, the stock price closed at 4.73 Hong Kong dollars, a drop of 23.09% on the day, and the trading volume exceeded 5 million Hong Kong dollars.

Obviously, judging from the total market value of Hutchison Whampoa’s closing price of more than 24 billion Hong Kong dollars yesterday, not only a large number of stocks were sold today, but also a lot of funds were bought. Otherwise, with such a large trading volume, it would not only fall by 23.09 %It's so simple, it's normal to cut in half.

(End of this chapter)