Reborn as the youngest son of a chaebol, let's get to know his sister-in-law!
Chapter 348 The Great War Begins!
Chapter 348 The Great War Begins! (Sniping Soros Xiangjiang will end tomorrow)
When the market opened on Monday, all the employees under Chen Daojun were present and lined up in front of their own positions, all of them looked solemn, as if they were facing an enemy.
Because they all knew that from the moment the opening bell rang, they were going to fight the international speculators head-on!
The entire trading hall is divided into three areas, led by Chen Daojun, Park Changhao, and Xin Zhizhu. Give Chen Daojun and the other three people a reference when the time is right.
For this operation, Chen Daojun used a total of more than 30 channels, and the number of target Hong Kong stocks reached 50, covering various fields such as public utilities, real estate, and finance, and most of them are index constituent stocks.
And the market value of this combination accounts for more than 5% of the market value of the entire Hang Seng market.
Chen Daojun's group is responsible for financial stocks including HSBC Holdings, while Park Changhao is responsible for buying stocks of major real estate companies, and Xin Zhizhu is responsible for the rest, including public utilities and red chips.
"Dong dong dong", when the pre-set bell rang, everyone's nerves tensed immediately.
The call auction time for the morning session has arrived.
There is a total of 30 minutes for the collective bidding.
After determining the trading volume and opening price, each stock in the market will enter the stage of random trading, that is, the free trading period.
To some extent, the call auction can show the trend of a certain stock in one day, or even the trend of the whole market.
Under normal circumstances, if there are more selling orders than buying orders during the call auction stage, it means that the market is not good that day, and if there are more buying orders than selling orders, the market is likely to improve.
Of course, these are all for short-term investors. For long-term investors and large funds, the information revealed during the call auction stage may not be so accurate.
When the bell rang at 9:30, the originally silent trading room immediately erupted into a loud noise, and everyone's hands and feet began to get busy, typing on the keyboard to check the market, calling the broker to place an order, and reporting to the responsible person. When people report the market, all kinds of voices are mixed together, almost toppling the ceiling.
In this case, people's emotions are easily infected, and Chen Daojun is no exception.
A deal worth HK$80 billion.
He only felt his whole body trembling, the blood in his body suddenly boiled, his brain was in a state of dizziness due to extreme excitement, and the scenery in front of him became a little erratic.
"not good!"
Chen Daojun said to himself, he didn't care about giving instructions to the traders, so he hurried into the bathroom, picked up cold water and poured it on his head. It took 2 minutes for him to fully wake up.
When he returned to the trading floor, the whole person had returned to a sufficiently rational state.
Three or ten minutes passed quickly, and as expected, their first transaction was also completed, and they had bought 10 lots of HSBC shares, spending a total of 2000 million Hong Kong dollars.
Since there was no pending order for follow-up buying, the stock price of HSBC Holdings began to gradually fall under the selling of speculators, and soon fell below the initial position.
On the other side, there were also a large number of selling orders on the board of Xiangjiang Telecom. There were more than 60 selling orders of more than [-] lots, which scared the buyers of Xiangjiang Telecom back.
Wait until these buying orders are either traded or withdrawn.
Shares in Hong Kong Telecom have fallen 3%.
Except for the number of trading lots set during the call auction stage, Park Changhao and Xin Zhizhu did not sell easily. After seeing the entire Hong Kong stock index rising again, they gathered together.Discuss today's countermeasures.
"Last weekend, international speculators frantically attacked the Hong Kong dollar. It is said that they sold 500 billion yuan. Although the Hong Kong government persuaded banks not to lend funds, and announced the balance of the banking system every day to reassure the market. But just now, the lending rate has increased by [-]%. .It looks like a downtrend may be on the way again today.”
Park Chang-ho said worriedly.
As soon as he finished speaking, Xin Zhizhu quickly continued: "The lending rate is one aspect, and the yen last week has fallen to 140. Once the yen falls, speculators will be more confident in shorting the Hong Kong dollar." Enough."
After the two finished speaking, they glanced at each other, and then said in unison: "I suggest that we should avoid the edge for the time being!"
"No!" Chen Daojun flatly vetoed it.
"The amount of funds bought today is 20 billion Hong Kong dollars, just to test the market's reaction, don't ask me why, you will understand after a while! However, the timing of the launch needs to be unified, and you should buy it half an hour before the market closes. , At other times, I ask you to pay close attention to market trends and find out the strategies of speculators to suppress Hong Kong stocks, so that we can act against them.”
Under the puzzled eyes of the two, after Chen Daojun allocated the funds in detail, he returned to the trading table and continued to observe the situation on the market.
In just a few minutes, the stock price of HSBC Holdings fell again. Although there were buying orders for small stocks, every time the stock price rose to around the initial 185, there would be a sale of 300 lots. The plate hangs there, scaring off buyers.
After a few times, the buyer realized that the other party has strong financial strength, so he simply did not continue to attack, and began to trade frequently within the range of 185.
Chen Daojun squinted his eyes for a while, and suddenly realized that the current frequent transactions are just illusions, it is completely testing each other between buyers and sellers, because once the stock price drops to around 180, an unknown amount of funds will also appear to sell here. next.
Within half an hour of his observation, he roughly estimated that the buyer had placed no less than 300 lots of selling orders.
Although some were spit out at the position of 183, in general, the buying still took a lot of shares.
On the other hand, Hang Seng Bank, Bank of East Asia and other stocks, the transaction is quite dull. Basically, there are many orders at every price, but the number is very small, ranging from a few lots to dozens of lots. , basically do not see the emergence of main funds.
In this way, until the auction time at noon, both buyers and sellers maintained a certain degree of restraint, which also made the performance of the market unsatisfactory, only a slight drop of 5 points, showing almost a straight bar.
At noon, the three met again, exchanged opinions, and expressed their puzzlement about the market.
Logically speaking, due to the rise in interest rates, Hong Kong stocks have fallen in response to the usual practice, but so far, the expected situation has not occurred. If this is reasonable, I am afraid that the three of them will not agree.
But what is the reason that prompted the speculators to make a move, and the three of them are not very clear.
So, after they met, they decided to continue to observe.
After the call auction session ended in the afternoon, the Hong Kong stock futures index suddenly fluctuated violently, and a series of buying orders suddenly appeared on the long side of the futures index. The short side seemed to be ill-prepared for this, and suddenly lost the 7082 point mark.
After breaking through this threshold, the buying didn’t mean to stop at all, and continued to attack, and broke through 7093 points almost within a few minutes. signs.
As for Hong Kong stocks, due to the good news from the Hang Seng Index market, investors believe that the bulls are making efforts.
This signal immediately ignited their enthusiasm for buying. For a while, in the financial, real estate, service and other sectors, buying funds sprung up one after another like mushrooms after rain, and the trading volume instantly increased.
Driven by this wave of buying, the Hang Seng Index also rose steadily, and together with the futures index, it quickly approached 7200 points.
Within half an hour, the increase of nearly 100 points did not attract the attention of Chen Daojun and the others.
In fact, even though they could look up and see the numbers on the huge display screen, few of them had the heart to look at the numbers that turned from red to green. They were all looking down at the boards they were in charge of quietly.
"No!" Chen Daojun glanced at the performance of several heavyweights such as HSBC Holdings, Heung Kong Telecom, and Changhe Industrial.
When he saw that the futures index buying at the 7150 position suddenly disappeared without a trace, he immediately realized that the situation seemed to be inconsistent with the performance on the disk, and then he shouted loudly, "Everyone pay attention, there may be a lottery soon." There is a wave of falling market, keep your attention, and listen to my instructions at any time!"
The increase of 100 is nothing to mention for the Hong Kong stock market, which is famous for its "roller coaster".
However, it is precisely because of the "roller coaster" characteristics of Hong Kong stocks that most investors do not know whether the increase of this magnitude is an ultra-short-term increase in the main funds, or a prelude to a large-scale upward attack.
As the saying goes, "wealth and wealth are sought in insurance", when many funds relying on ultra-short-term profits saw similar fluctuations in the originally calm Hang Seng Index, they immediately rushed in desperately, intending to buy bottoms before the rebound.
But how could they expect that this is just a trick played by international speculators to "lead the snake out of the hole".
Chen Daojun also suddenly discovered in the list of the HSI futures buy column that the bulls who had been aggressive just now suddenly disappeared without a trace.
There are piles of pending orders ranging from a few hands to dozens of hands piled up in the buy column. The pending orders of hundreds of hands disappeared out of thin air, but the trading volume did not increase. Obviously, they were withdrawn rather than closed.
At the moment when the Hong Kong stock market index reached 7160, an astonishing number of sell orders suddenly appeared in the sell column of the Hang Seng Index futures. First, there was a large sell order with a lot size of 500 and the index was set at 7162. Several large-scale sell orders were issued at the same price, and in less than half a minute, 7150 lots of sell orders were accumulated at the 1725 position.
Correspondingly, in the buy column, there are only 486 lots bought, which cannot compete with it at all.
The market outlook is still bearish!
Almost at the same time that the Hang Seng Index futures turned around, it was on several heavily held stocks that could affect the performance of the Hang Seng Index.
Unanimously, large-scale selling orders appeared, and the pending buying orders were instantly swallowed by the flood of selling orders, and then the stock price of HSBC Holdings fell all the way, falling below 175, 170 and other barriers one after another until it reached the position of 168 Only slightly slowed down the decline.
A similar situation also occurred in Sun Hung Kai, Changhe Industrial and other heavyweight stocks.
Although there was no drastic drop, all the funds chasing the rise just now were submerged in this frenzy of decline, and not even a wave appeared.
It was deeply locked in the high position.
Under the influence of the poor performance of several heavily held stocks, the Hang Seng Index also fell all the way, falling 200 points within half an hour, and came to this integer point position again after falling below 7000 points the day before.
"It really is extremely dangerous!"
Wiped the sweat from his forehead.
Xin Zhizhu walked up to Chen Daojun.
Said with lingering fear. "Boss, according to your judgment, what happened just now? It dropped nearly 200 points in an instant, and more than five stocks on my side turned green to red almost at the same time. It almost scared my heart. come out."
Although Xin Zhizhu is very talented in the stock market, he has also experienced the stock market crash in Japan in the past year and the sharp drop in the Nikkei Index last year.
But after entering Chen Daojun's funds, he spent most of his time waiting, so his sense of the market was unavoidably poor.
There are very few short-term transactions like today, so it is not surprising that Xin Zhizhu showed such "fuss".
"It should be speculators who are testing the depth of the power to protect the market, I personally think!"
Chen Daojun frowned, and said thoughtfully, "7000 points will be a threshold, and neither side can afford to lose. Now it depends on which of them has the stronger financial strength."
During the conversation, the bulls and the bears fought fiercely in markets such as Hong Kong heavyweight stocks and Hang Seng Index futures.
At the moment when the Hang Seng Index was fixed at 7000 points for the heavyweight stocks led by HSBC Holdings, a large number of buying orders suddenly emerged, abruptly stabilizing the decline.
In the futures market, a single largest buy order of up to 7000 lots appeared at the 2000 position, hanging there brightly, as if telling the bears that if they want to continue to suppress the index, they must crush it.
The news that there were large-scale pallet orders on the index futures immediately spread throughout the market. Encouraged by this news, investors who were frightened by the sharp drop just now began to regain some confidence, while those who were more daring tried to sell their stocks. Buy a small amount of stocks, trying to lower the average price just now, or preparing to grab a rebound.
"Should we make a move?"
When the two sides were at a stalemate, Park Changhao not far away shouted: "Now we enter the market, just to help the bulls, and it seems that the bears can only do this."
"No hurry!" Chen Daojun waved his hand, signaling Park Changhao not to draw conclusions too hastily:
"According to the bear's offensive just now, it shouldn't be so strong. I always feel that this is a test by the bear, to see how strong the opponent is! We enter the market rashly now, and maybe both sides will be aware of the inappropriateness."
Park Changhao didn't agree immediately, but after thinking about it, he nodded towards Chen Daojun.
"Here, here!" As soon as Chen Daojun finished speaking, a trader stood up and shouted loudly: "Red chips rose instead of falling, and the whole line is green. It should be their performance to boost the market."
"Really?" Chen Daojun quickly bent down and switched the board to red-chip stocks, only to find that among dozens of red-chip stocks, basically all of them were green.
Especially for large-cap stocks such as the telecommunications industry, the buying side is full of large-scale orders, while the selling side is much less.
As a result, among the many red-chip sectors, red-chip stocks stand out and become one of the few bright spots in the market.
It's a pity that the liquidity of red chips is not very good because of the large market.
Therefore, even if there is a rising performance, the overall support for the broader market is not obvious, so Chen Daojun and others ignore their performance.
A few minutes ago, just as the Hang Seng Index broke through 7000 points.
"Buy with all your strength, and the futures index will also give me the next step. I must hold 7000 points today!"
Amidst all the sighs, Chen Daojun's loud voice sounded suddenly, and he finally made his move: "Sweep up the heavyweight stocks for me, only buy but not sell, swallow them all! The futures and index also stand up to me, and must be guarded!" 7000 points! All index stocks, give me three price increases, no, five price points!"
After being busy for a long time, they finally waited for the trading order. The traders ignored the regret for the performance of the market just now, and quickly invested in buying.All of a sudden, the entire trading floor was buzzing with people again, and the broker's phone rang one after another.
"The current price of HSBC Holdings? 173 yuan? Buy! Clear all the goods below 175 for me! Yes! I want it!"
"Don't ask how much, just ask for as much as you have! Place an order for me!"
……
Just as everyone was investing in the wave of buying Hong Kong stocks, Chen Daojun was nervously looking at the numbers of the Hang Seng Index futures and directing the traders to place orders.
"6970, 100 lots, buy! Yes, yes!"
"6996, 200 lots, buy, give me the top!"
"Below 7000 points, don't ask how many there are, just eat them all, and the index will rebound immediately!"
Soon, there was a large-scale buying in Hong Kong stocks, which made the index start to recover after falling to 6970, and the range was very fast.
The 10-point mark was regained in almost 7000 minutes.
At the same time, the funds that emerged in Hong Kong stocks and Hang Seng Index futures caught the short sellers by surprise. Due to insufficient preparation in advance and doubts about the intentions of the bulls, the main short sellers did not organize an effective counterattack, and watched the Hang Seng Index rebound again. to 7100 points.
Afterwards, there was not much trading time left for both long and short parties, and the trading of the whole market gradually entered the garbage time. In the end, the Hong Kong stock index closed at 7134 points, with a slight increase throughout the day, which was basically an ordinary day.
When the closing bell rang, Chen Daojun took a breath, ordered the traders to withdraw the unfilled pending orders, and asked Park Changhao, "How much?"
"23.6 billion Hong Kong dollars!"
Park Changhao said something expressionless, and then the corners of his mouth twitched slightly, and he said: "The situation is not bad, today's trading volume is not very large, and the determination of the short sellers is not very obvious, so we can only use such a small amount of funds. achieve this effect.”
"23.6 billion? That's more than 3 billion US dollars. This amount is indeed not bad!"
Chen Daojun nodded noncommittally, then heaved a long sigh and said, "This is just the beginning!"
He knew that once Soros and the others tested the truth, the subsequent battle would not be so simple. Although he had nearly 20 billion US dollars, in front of hundreds of billions of international speculators, he was no different from a mantis arm.
Now it depends on when Soros and the others are going to make a move.
He is like the vanguard general when the two armies are at war. Although he can't talk about beheading the opponent, he has already done what has to be done.
……
Soros, who was far away across the ocean, also smiled and said, "This is the real beginning!"
Robertson beside him nodded in agreement and said: "The bulls are indeed more cunning than we imagined, but we have sold tens of billions of Hong Kong dollars in the money market. I believe that the interest rate of Hong Kong dollars will rise sharply tomorrow. They will really realize how good we are."
"Hahahaha, let's make those guys happy today, tomorrow I hope they can still laugh."
On the evening of the 15th, as soon as the European and American trading sessions opened, in the London and New York markets, the trend of selling Hong Kong dollars was set off again.
Led by the Quantum Fund, speculators once again pushed the exchange rate of the Hong Kong dollar closer to 7.75, but the HKMA quickly launched a counterattack. 1, but the speculators once again stubbornly pushed the Hong Kong dollar back to the level of 7.7435, where the two sides shook hands and made peace.
Originally, due to the two rest days, speculators’ position costs have increased, so the Hong Kong dollar opened at 7.7411, which is not a small increase compared to the previous trading day.
The HKMA also intends to use this opportunity to snipe the speculators, but the stubborn speculators did not restrain themselves. Instead, they showed a relentless posture, which completely defeated the wishful thinking of the HKMA.
On this day, speculators threw out a total of about 450 billion Hong Kong dollars, and the trading volume was refreshed again.
From the beginning of August to the present, speculators have sold hundreds of billions of Hong Kong dollars from the market, consuming close to 200 billion US dollar reserves of the Hong Kong Monetary Authority.
But both the offensive and defensive sides are very clear that if they want to overwhelm the Hong Kong dollar system, this is only the beginning.
So far, the speculators have only consumed up to 25% of Xiangjiang Mansion's foreign exchange reserves, and the remaining half is still lying firmly in the account of the Monetary Authority.
Although the currency market is still as stable as Mount Tai, the reaction of the capital market is completely different. As soon as the market opened on the 16th, the lending rate soared by 5%, reaching an astonishing 15% annualized.
The bank balances released by the HKMA show.
In the past day, the circulation of the entire Hong Kong financial system has decreased by 720 billion Hong Kong dollars. Although the Monetary Authority also promised to inject funds to increase liquidity, the entire market is still shrouded in pessimism.
The bad news hit, and the stock market was under pressure.
Although yesterday's market can only be regarded as a minor disturbance, today, in the face of two days of bad news, the Hang Seng Index fell 9 points at the opening, and then the stock market fell all the way, it was like breaking a bamboo.
In this situation, Chen Daojun strictly ordered Xin Zhizhu to stand still.
Without bulls blocking, the index soon fell below 7000 points.
After breaking through the integer point, the index still couldn't stop the downward trend, and continued to explore crazily, and then fell below 6900 points and 6800 points, and finally encountered a strong sniper attack at 6720 points, although it fell to 6700 points in the intraday.
But under the tenacious sniping of the bulls, it finally managed to give up a little bit, closing at 6775 points.
"Down 224 points all day, or 3%."
Park Changhao dumbly reported a bunch of numbers, and said worriedly: "This is not going to work, our more than 20 billion will be locked up."
"Yes!" Xin Zhizhu quickly echoed: "Their funds are too strong, and if there is a slight disturbance in the periphery, we will be in a deep quagmire."
After finishing speaking, he was still a little unsatisfied, broke his fingers, and said: "Do you know how many rumors there are today? Among other things, there are several rumors about the heavyweight HSBC, and some say that their bad capital seriously exceeds the warning. There are even rumors that HSBC North America has suffered major losses in investment, and every rumor has its nose and eyes, and it is difficult for people to distinguish between true and false.”
"There are also various news in the real estate industry. There was a rumor today that Xiangjiang Mansion will reduce government spending. As soon as this news came out, the stocks of MTR and Sun Hung Kai immediately fell by more than [-] percent, directly dragging down the entire real estate sector! "
Park Changhao also added in a timely manner that the real estate sector he was in charge of had the most serious decline among all Hong Kong stocks today, with a full drop of more than 6%.
"It's far more than that!"
Chen Daojun sighed, and said worriedly: "These can still be clarified. As long as the parties or the company make an announcement, the stock price will rise. The biggest question now is whether the Huaxia currency will depreciate? If it depreciates, the rate will increase." What is it like? This is the most important factor dragging down the entire Hong Kong stock market.”
The current general opinion in the market is that it is difficult for Huaxia currency to guarantee the current currency value under the premise that currencies in the entire Southeast Asian region have depreciated.
Because the pressure from international trade will make the goods from China uncompetitive, and China, which is driven by foreign trade exports and economic growth, urgently needs to increase its export quota, so it is difficult to ensure that the value of the Huaxia currency will continue to be stable.
Some economists from investment banks have even suggested that the Huaxia currency should be devalued by 5% to 15%, which would be a reasonable price.
In related research reports, the investment bank gave China's economic growth in the first two quarters, and the obvious slowdown has strongly shocked the attention of every investor.
In the report, these economists who speculated on the depreciation of the Huaxia currency wrote:
"...If you choose to depreciate at this time, it can stimulate the development of the foreign trade industry, enhance its competitiveness, and continue to stimulate economic growth. Second, it can effectively prevent the outflow of funds and ensure the confidence of foreign investors... ..."
Of course, except for the voices calling for the devaluation of the Huaxia currency.
There is another voice that the Huaxia currency will not depreciate.
Some economists mentioned that currency depreciation will fall into a vicious circle of competing devaluations. Once caught in this vicious circle, the prices of exported products will only get lower and lower.
Once the importing country launches a trade war, the consequences will be disastrous. Not only will it not stimulate economic growth, but it will also have a major impact on the export industry.
Bankruptcy, unemployment, deflation and other problems will follow one after another.
Not to mention the impact on the overall situation, the Xiangjiang market alone will have a huge impact on whether the Huaxia currency will depreciate in the end.
This kind of impact is not only aimed at companies listed in Hong Kong, but also affects the Hong Kong dollar and even the entire Hong Kong economy.
This is also one of the important reasons why the Xiangjiang stock market has been sluggish in the past few months.
After quickly going through these views in his head, Park Changhao sighed, and said: "Now there is another view in the market, that is, 'Hong Kong dollar M yuanization', canceling the issuance of Hong Kong dollars, and making all the currency in circulation Change it into US dollars, because if this is the case, international speculators will have no reason to attack Xiangjiang, hey, it is really speechless!"
"Hong Kong dollar dollarization?" Chen Daojun chuckled and said disdainfully:
"Handing over the power to issue coins to others? This is simply a joke in the world. Seigniorage falls into the hands of others. Looking around the world, no country will do this!"
"you're right!"
Chen Daojun nodded, and then explained: "I'm just making an analogy. There are different opinions on the news in the market now, and it's hard to tell whether it's true or false, but they all affect investors' decision-making to a certain extent. Therefore, this point can also be used by us. By using it, we can also release news, news that is beneficial to us!"
"Us?" Park Changhao and Xin Zhizhu looked surprised. After a long while, Park Changhao showed a thoughtful expression on his face.
The TV on the wall was broadcasting a financial program, and a well-known expert sat there in a suit and leather shoes, accepting interviews from the host, and seemed to explain today's stock market in a logical manner.
Although Liu Dawei is well-known in the financial circle, this kind of fame is limited to a certain circle.Compared with the overall situation, the role he can play is extremely limited.
After all, today is different from the past, and many people have no idea if they want to play against international speculators.
Although Liu Dawei boasted on the TV program that the Hong Kong stock market had bottomed out in the past two days, the consecutive two-day decline has seriously damaged his credibility.
So wanting to use him to distribute news and affect the overall situation, in Xin Zhizhu's view, is a bit of a dream.
Park Changhao didn't speak, looked at Liu Dawei on TV, and then at Chen Daojun with a confident face, suddenly he seemed to realize something.
A pair of eyes kept changing between the two scenes, and he didn't know what he was thinking.
"Not bad!"
Looking at Xin Zhizhu who couldn't believe it, Chen Daojun smiled disapprovingly:
"The Hong Kong stock market fell so badly today, there should be a slight rebound tomorrow. However, I will not tell you my specific plan until the news I am waiting for comes. You just wait and see. It will definitely be scary when the time comes." You jump!"
"I hope so!" Xin Zhizhu muttered dissatisfiedly, and then reminded:
"Another 8 million yuan was spent today. Although we have only used less than half of the funds so far, if this momentum continues, it is possible for the Hong Kong stock market to fall to 5000 points. Boss, you have to be psychological Prepare."
Xin Zhizhu was very distressed by the money, and hinted at Chen Daojun insinuatingly.
"In addition, if the Hong Kong dollar is really untenable, then even we will suffer!"
After thinking about it, Xin Zhizhu added.
Chen Daojun didn't speak, just looked at Xin Zhizhu with a frown, and suddenly a thought couldn't stop popping up in his mind: "This guy really thinks of himself everywhere, but unfortunately, he doesn't know the general situation! "
He hoped that Xiangjiang Mansion could see clearly as soon as possible, so as not to waste money.
But the market is not developing according to people's wishes.
After a slight retreat on August 8, due to the decline of European and American stock markets on August 16, coupled with the unsatisfactory recovery of the previous day and the still high interest rates, the Hang Seng Index appeared again. The market fell.
The opening price was 6830 points, and there was a slight correction in the intraday session, but it was quickly overshadowed by pessimistic sentiment. Investors almost lost their confidence and rushed to sell their stocks first.
The Hang Seng Index once fell to 6486 points during the session, but with the support of several stocks of funds, the Hang Seng Index barely rose to 6610 points, falling more than 200 points all day, and the decline expanded.
So far, the Hang Seng Index has fallen from the highest point of 97 points in 16820 to 6610 points today, a full drop of more than 10200 points, a drop of more than 1995%, hitting a new low since [-].
What kind of concept is this?
For example, a stock bought for 10 yuan fell directly to 4 yuan!
So even if the decision-maker of the fund bought the corresponding shares in 95.
If dividends and dividends are not calculated, then so far, his book is still a loss.This also means that in the past three years, his investment performance has been negative, a complete failure!
And for those investors who do not buy stocks strictly according to the index ratio, no matter whether you enter the market from 7000 points, 8000 points or 10000 points, how complicated and changeable the capital allocation is, until this day.
The stocks they hold are all losses.
And the higher the point of entering the market.
The more serious the loss.
The performance of the entire stock market plummeted to more than [-]%, let alone those individual stocks.
Some stocks even directly entered the ranks of penny stocks due to poor performance, and were completely reduced to junk stocks.
Along with the decline in the stock market, there is also the real estate industry.
due to falling house prices.Many people went bankrupt overnight.
From rich to "negative".
The market is full of properties for free transfer, and the news of someone jumping L on TV from time to time reminds people how bad the economic environment is today.
But the strange thing is that the speculators are not in a hurry, and they have not entangled with them in Hong Kong stocks at all.
It's just a blunt knife cutting flesh and slowly suppressing the stock market.
On the evening of August 8, until then, Xiangjiang Mansion finally understood that the foreign exchange market was nothing more than a smoke bomb, and the stock market and futures market were the main battlefields.
Therefore, the Xiangjiang government resolutely decided to intervene in the market with huge foreign exchange funds and land funds, and fought to the death with the international speculators headed by Soros.
Before deciding to enter the market, the boss of the Xiangjiang Mansion stood by the floor-to-ceiling windows and cried quietly two or three times at night, feeling the great pressure.
For this reason, he found Huo Lao, Lao Li, and Cao Biao to come over, hoping to find confidence from them.
After discussing with them and deciding to enter the market, the boss is ready to fight with the national speculators.
Therefore, from August 8 to 18, in the face of attacks from international speculators, Xiangjiang Mansion began to change its previous passive situation, and has been responding by raising interest rates.
In short, it is to take all Hong Kong dollars from the low price in the foreign exchange market. When speculators fluctuate and adjust, they use fiscal funds to eat all of them, stabilize the exchange rate at 7.75, and transfer it to the bank to stabilize the interest rate.
With this response, speculators have no chance to take advantage of it, and they have to pay interest on lending.
As a result, the Hang Seng Index rose from 6610 points before Xiangjiangfu entered the market to 7420 points. The battle between international speculators and Xiangjiangfu has become fierce these days.
"today?"
In Manhattan, New York, in the office of Quantum Fund, Robertson is having the final communication with Soros before the opening.
"Yes, it's today!"
Soros nodded, with a smug smile on his face: "Look, Wall Street Journal, everyone will read this report!"
This is also part of his plan.
"Okay!" Robertson nodded noncommittally, and after thinking about it, he asked again:
"George, this article of yours will definitely attract the attention of the whole world. At that time, not only the Da Mao market, but also the markets in Europe and country M will be affected. The problem is, we really need to take the risk of offending Da Mao Come to publish this article? You know, even if you don't appeal, the ruble won't last long!"
"No, this is just my strategy, you have ignored another market!"
Soros knocked on the table and reminded proudly: "Although we can take the opportunity to make some money, don't forget that our real battlefield is in Xiangjiang, and Xiangjiang's stock market fell again today, and it has fallen to the last three This is the lowest level since the beginning of the year, so we have to take advantage of this time to give them another heavy blow and completely beat them down!"
While speaking, Soros made a punching movement.
Although the posture is not standard, it is enough to express his meaning clearly.
"Haha, you are still as motivated as when you were 30!"
Robertson understood what he meant. The real decisive battle was about to start today and tomorrow. He was taken aback. He tried his best to lean on the chair to restrain his slightly trembling body, and soon he smiled nonchalantly.
"Well, we won't get together tomorrow. I have explained to everyone else that I have a total of 270 billion US dollars, some of which have been leveraged. Add your 40 billion, and we have a total of more than 300 billion US dollars. bullets."
This kind of funds is enough to deal a fatal blow to the shaky Hong Kong stock market. Thinking of this, he stood up and waved at Robertson: "Man, after finishing this vote, our net worth will skyrocket by double|!"
Seeing that he left his office full of confidence, Soros sat down again with a lot of thought.
He glanced at the news report on Xiangjiang again, picked up a cigar, lit the newspaper, and muttered, "Sorry, this time! I'm sure I'll win!"
……
The next day.
In the "Wall Street Journal" published on the 28th, an article written by Soros on the economic situation in Damao was published.
In the article, Soros strongly appealed that the head of Da Mao should face up to his own economic problems and take active and effective measures to solve the current problems.
In the article, he gave the solution: the ruble should depreciate by 15% to 25%.
The news immediately shocked the entire market, and the New York stock market fell accordingly. The Dow Jones Industrial Index fell from 9580 points in the opening session to 9423 points in the closing session, dropping 147 points, or 1.53%, all day.
The Financial Times Index in London fell from 5342 points to 5271 points, down 71 points, or 1.32%.
And these are just the beginning, the market in Xiangjiang has not opened yet!
"Did you see it? Did you see it? Is this the news you were waiting for?"
In the middle of the night, in the dead of night, everyone was sleeping soundly.
At this moment, the phone in Chen Daojun's room rang loudly.
The sleepy Chen Daojun muttered a few words in dissatisfaction, and turned on the desk lamp.
Looking at the time, it was three o'clock in the middle of the night, and he picked up the phone next to the bed. Before he could say his greeting, he heard a questioning sound like a machine gun coming from the microphone.
"Mr. Huo, what time is it? You got up so early? What's the matter? I don't know anything!"
Chen Daojun collected himself, and when he heard that the questioner on the other end was Mrs. Huo, he couldn't help but smiled wryly, and complained a few words along the way.
"I can't wait to burn my eyebrows, but I made a guarantee, how can I sleep?"
Mr. Huo on the other end of the phone was stunned for a moment, but after hearing Chen Daojun's vague words, he suddenly felt helpless:
"Chen Sheng, don't you know? Soros published an article in the "Wall Street Journal" and directly targeted Da Mao. European and American stock markets fell because of his statement. After dawn, Hong Kong stocks are bound to suffer again. Press it, this is not a joke!"
"Is it finally here?"
Chen Daojun muttered something to himself, and immediately woke up from his hazy state.
After a jolt, he quickly turned over and said with great excitement: "Here we come! Finally we are here!"
Due to being so excited, even his voice trembled subconsciously.
"Coming? What's coming?"
Huo Lao didn't react for a while, and still complained to himself: "The news analyzed by the Financial Management Bureau is that the worst market has yet to come... wait, wait, this... this is what you said Important information?"
"Not bad!"
While putting on his clothes, Chen Daojun hurriedly replied: "The opportunity for the Jedi to fight back has finally come! The signal I have been waiting for has finally come. From tomorrow, oh no, from today, we can openly declare war on international speculators! "
"what?"
Mr. Huo was very astonished, and he didn't speak for a long time. After a while.
He just sighed and said heavily: "Chen Sheng, I now believe in your judgment, and I also believe in your determination and ability, but our funds are limited, and confidence is more important than gold. Does the news released by Ross mean anything to the international financial market, and if there is another drop, can stockholders withstand the pressure?"
"Soros is just one person. Don't be too mythical about him. It's okay to interfere with the European and American markets with your mouth. In the Xiangjiang area, the dragon crossing the river has to be entangled, and he can't be rampant!"
Chen Daojun's categorical words sparked a glimmer of hope in Mr. Huo: "Could it be, what else did you arrange to succeed?"
"Of course!"
At this time, Chen Daojun had finished dressing up: "Don't worry, neither country M nor Europe will let the news spread. Today I am going to make a big attack. No matter what the price is, I will support the Hang Seng Index!"
"At the same time, I hope you can help coordinate the news of Xiangjiang Prefecture's rescue of the city. Tomorrow is the time to complete the battle. Don't hold back!"
"no problem!"
Mr. Huo nodded solemnly, and solemnly promised: "Besides, do you have enough funds? I'm still a bit thin on HSBC. I can exchange a large amount of funds, and I'm ready to enter the market to rescue the market at any time."
"HSBC? Take care of yourself first!"
Regarding his statement, Chen Daojun laughed: "Tomorrow they will definitely cooperate with Soros' painting and intensify their attacks. As long as the stability of the Hong Kong dollar market is guaranteed, the stock and futures markets will no longer be a problem."
After hanging up the phone, Chen Daojun contacted Robertson decisively.
About 10 minutes later, Chen Daojun smiled.
Soros must never have imagined that his meticulous plan would fail on a key matter.
You must win!
That being the case, why is Chen Daojun willing to let HSBC's funds get involved?
You must know that these stocks bought at low prices will be sure to make profits after the limelight passes.
Under such circumstances, how could he be willing to get a piece of the action?
On August 1998, 8, the stock index futures delivery period, Xiangjiang Mansion and international speculators finally ushered in a decisive battle!
(End of this chapter)
When the market opened on Monday, all the employees under Chen Daojun were present and lined up in front of their own positions, all of them looked solemn, as if they were facing an enemy.
Because they all knew that from the moment the opening bell rang, they were going to fight the international speculators head-on!
The entire trading hall is divided into three areas, led by Chen Daojun, Park Changhao, and Xin Zhizhu. Give Chen Daojun and the other three people a reference when the time is right.
For this operation, Chen Daojun used a total of more than 30 channels, and the number of target Hong Kong stocks reached 50, covering various fields such as public utilities, real estate, and finance, and most of them are index constituent stocks.
And the market value of this combination accounts for more than 5% of the market value of the entire Hang Seng market.
Chen Daojun's group is responsible for financial stocks including HSBC Holdings, while Park Changhao is responsible for buying stocks of major real estate companies, and Xin Zhizhu is responsible for the rest, including public utilities and red chips.
"Dong dong dong", when the pre-set bell rang, everyone's nerves tensed immediately.
The call auction time for the morning session has arrived.
There is a total of 30 minutes for the collective bidding.
After determining the trading volume and opening price, each stock in the market will enter the stage of random trading, that is, the free trading period.
To some extent, the call auction can show the trend of a certain stock in one day, or even the trend of the whole market.
Under normal circumstances, if there are more selling orders than buying orders during the call auction stage, it means that the market is not good that day, and if there are more buying orders than selling orders, the market is likely to improve.
Of course, these are all for short-term investors. For long-term investors and large funds, the information revealed during the call auction stage may not be so accurate.
When the bell rang at 9:30, the originally silent trading room immediately erupted into a loud noise, and everyone's hands and feet began to get busy, typing on the keyboard to check the market, calling the broker to place an order, and reporting to the responsible person. When people report the market, all kinds of voices are mixed together, almost toppling the ceiling.
In this case, people's emotions are easily infected, and Chen Daojun is no exception.
A deal worth HK$80 billion.
He only felt his whole body trembling, the blood in his body suddenly boiled, his brain was in a state of dizziness due to extreme excitement, and the scenery in front of him became a little erratic.
"not good!"
Chen Daojun said to himself, he didn't care about giving instructions to the traders, so he hurried into the bathroom, picked up cold water and poured it on his head. It took 2 minutes for him to fully wake up.
When he returned to the trading floor, the whole person had returned to a sufficiently rational state.
Three or ten minutes passed quickly, and as expected, their first transaction was also completed, and they had bought 10 lots of HSBC shares, spending a total of 2000 million Hong Kong dollars.
Since there was no pending order for follow-up buying, the stock price of HSBC Holdings began to gradually fall under the selling of speculators, and soon fell below the initial position.
On the other side, there were also a large number of selling orders on the board of Xiangjiang Telecom. There were more than 60 selling orders of more than [-] lots, which scared the buyers of Xiangjiang Telecom back.
Wait until these buying orders are either traded or withdrawn.
Shares in Hong Kong Telecom have fallen 3%.
Except for the number of trading lots set during the call auction stage, Park Changhao and Xin Zhizhu did not sell easily. After seeing the entire Hong Kong stock index rising again, they gathered together.Discuss today's countermeasures.
"Last weekend, international speculators frantically attacked the Hong Kong dollar. It is said that they sold 500 billion yuan. Although the Hong Kong government persuaded banks not to lend funds, and announced the balance of the banking system every day to reassure the market. But just now, the lending rate has increased by [-]%. .It looks like a downtrend may be on the way again today.”
Park Chang-ho said worriedly.
As soon as he finished speaking, Xin Zhizhu quickly continued: "The lending rate is one aspect, and the yen last week has fallen to 140. Once the yen falls, speculators will be more confident in shorting the Hong Kong dollar." Enough."
After the two finished speaking, they glanced at each other, and then said in unison: "I suggest that we should avoid the edge for the time being!"
"No!" Chen Daojun flatly vetoed it.
"The amount of funds bought today is 20 billion Hong Kong dollars, just to test the market's reaction, don't ask me why, you will understand after a while! However, the timing of the launch needs to be unified, and you should buy it half an hour before the market closes. , At other times, I ask you to pay close attention to market trends and find out the strategies of speculators to suppress Hong Kong stocks, so that we can act against them.”
Under the puzzled eyes of the two, after Chen Daojun allocated the funds in detail, he returned to the trading table and continued to observe the situation on the market.
In just a few minutes, the stock price of HSBC Holdings fell again. Although there were buying orders for small stocks, every time the stock price rose to around the initial 185, there would be a sale of 300 lots. The plate hangs there, scaring off buyers.
After a few times, the buyer realized that the other party has strong financial strength, so he simply did not continue to attack, and began to trade frequently within the range of 185.
Chen Daojun squinted his eyes for a while, and suddenly realized that the current frequent transactions are just illusions, it is completely testing each other between buyers and sellers, because once the stock price drops to around 180, an unknown amount of funds will also appear to sell here. next.
Within half an hour of his observation, he roughly estimated that the buyer had placed no less than 300 lots of selling orders.
Although some were spit out at the position of 183, in general, the buying still took a lot of shares.
On the other hand, Hang Seng Bank, Bank of East Asia and other stocks, the transaction is quite dull. Basically, there are many orders at every price, but the number is very small, ranging from a few lots to dozens of lots. , basically do not see the emergence of main funds.
In this way, until the auction time at noon, both buyers and sellers maintained a certain degree of restraint, which also made the performance of the market unsatisfactory, only a slight drop of 5 points, showing almost a straight bar.
At noon, the three met again, exchanged opinions, and expressed their puzzlement about the market.
Logically speaking, due to the rise in interest rates, Hong Kong stocks have fallen in response to the usual practice, but so far, the expected situation has not occurred. If this is reasonable, I am afraid that the three of them will not agree.
But what is the reason that prompted the speculators to make a move, and the three of them are not very clear.
So, after they met, they decided to continue to observe.
After the call auction session ended in the afternoon, the Hong Kong stock futures index suddenly fluctuated violently, and a series of buying orders suddenly appeared on the long side of the futures index. The short side seemed to be ill-prepared for this, and suddenly lost the 7082 point mark.
After breaking through this threshold, the buying didn’t mean to stop at all, and continued to attack, and broke through 7093 points almost within a few minutes. signs.
As for Hong Kong stocks, due to the good news from the Hang Seng Index market, investors believe that the bulls are making efforts.
This signal immediately ignited their enthusiasm for buying. For a while, in the financial, real estate, service and other sectors, buying funds sprung up one after another like mushrooms after rain, and the trading volume instantly increased.
Driven by this wave of buying, the Hang Seng Index also rose steadily, and together with the futures index, it quickly approached 7200 points.
Within half an hour, the increase of nearly 100 points did not attract the attention of Chen Daojun and the others.
In fact, even though they could look up and see the numbers on the huge display screen, few of them had the heart to look at the numbers that turned from red to green. They were all looking down at the boards they were in charge of quietly.
"No!" Chen Daojun glanced at the performance of several heavyweights such as HSBC Holdings, Heung Kong Telecom, and Changhe Industrial.
When he saw that the futures index buying at the 7150 position suddenly disappeared without a trace, he immediately realized that the situation seemed to be inconsistent with the performance on the disk, and then he shouted loudly, "Everyone pay attention, there may be a lottery soon." There is a wave of falling market, keep your attention, and listen to my instructions at any time!"
The increase of 100 is nothing to mention for the Hong Kong stock market, which is famous for its "roller coaster".
However, it is precisely because of the "roller coaster" characteristics of Hong Kong stocks that most investors do not know whether the increase of this magnitude is an ultra-short-term increase in the main funds, or a prelude to a large-scale upward attack.
As the saying goes, "wealth and wealth are sought in insurance", when many funds relying on ultra-short-term profits saw similar fluctuations in the originally calm Hang Seng Index, they immediately rushed in desperately, intending to buy bottoms before the rebound.
But how could they expect that this is just a trick played by international speculators to "lead the snake out of the hole".
Chen Daojun also suddenly discovered in the list of the HSI futures buy column that the bulls who had been aggressive just now suddenly disappeared without a trace.
There are piles of pending orders ranging from a few hands to dozens of hands piled up in the buy column. The pending orders of hundreds of hands disappeared out of thin air, but the trading volume did not increase. Obviously, they were withdrawn rather than closed.
At the moment when the Hong Kong stock market index reached 7160, an astonishing number of sell orders suddenly appeared in the sell column of the Hang Seng Index futures. First, there was a large sell order with a lot size of 500 and the index was set at 7162. Several large-scale sell orders were issued at the same price, and in less than half a minute, 7150 lots of sell orders were accumulated at the 1725 position.
Correspondingly, in the buy column, there are only 486 lots bought, which cannot compete with it at all.
The market outlook is still bearish!
Almost at the same time that the Hang Seng Index futures turned around, it was on several heavily held stocks that could affect the performance of the Hang Seng Index.
Unanimously, large-scale selling orders appeared, and the pending buying orders were instantly swallowed by the flood of selling orders, and then the stock price of HSBC Holdings fell all the way, falling below 175, 170 and other barriers one after another until it reached the position of 168 Only slightly slowed down the decline.
A similar situation also occurred in Sun Hung Kai, Changhe Industrial and other heavyweight stocks.
Although there was no drastic drop, all the funds chasing the rise just now were submerged in this frenzy of decline, and not even a wave appeared.
It was deeply locked in the high position.
Under the influence of the poor performance of several heavily held stocks, the Hang Seng Index also fell all the way, falling 200 points within half an hour, and came to this integer point position again after falling below 7000 points the day before.
"It really is extremely dangerous!"
Wiped the sweat from his forehead.
Xin Zhizhu walked up to Chen Daojun.
Said with lingering fear. "Boss, according to your judgment, what happened just now? It dropped nearly 200 points in an instant, and more than five stocks on my side turned green to red almost at the same time. It almost scared my heart. come out."
Although Xin Zhizhu is very talented in the stock market, he has also experienced the stock market crash in Japan in the past year and the sharp drop in the Nikkei Index last year.
But after entering Chen Daojun's funds, he spent most of his time waiting, so his sense of the market was unavoidably poor.
There are very few short-term transactions like today, so it is not surprising that Xin Zhizhu showed such "fuss".
"It should be speculators who are testing the depth of the power to protect the market, I personally think!"
Chen Daojun frowned, and said thoughtfully, "7000 points will be a threshold, and neither side can afford to lose. Now it depends on which of them has the stronger financial strength."
During the conversation, the bulls and the bears fought fiercely in markets such as Hong Kong heavyweight stocks and Hang Seng Index futures.
At the moment when the Hang Seng Index was fixed at 7000 points for the heavyweight stocks led by HSBC Holdings, a large number of buying orders suddenly emerged, abruptly stabilizing the decline.
In the futures market, a single largest buy order of up to 7000 lots appeared at the 2000 position, hanging there brightly, as if telling the bears that if they want to continue to suppress the index, they must crush it.
The news that there were large-scale pallet orders on the index futures immediately spread throughout the market. Encouraged by this news, investors who were frightened by the sharp drop just now began to regain some confidence, while those who were more daring tried to sell their stocks. Buy a small amount of stocks, trying to lower the average price just now, or preparing to grab a rebound.
"Should we make a move?"
When the two sides were at a stalemate, Park Changhao not far away shouted: "Now we enter the market, just to help the bulls, and it seems that the bears can only do this."
"No hurry!" Chen Daojun waved his hand, signaling Park Changhao not to draw conclusions too hastily:
"According to the bear's offensive just now, it shouldn't be so strong. I always feel that this is a test by the bear, to see how strong the opponent is! We enter the market rashly now, and maybe both sides will be aware of the inappropriateness."
Park Changhao didn't agree immediately, but after thinking about it, he nodded towards Chen Daojun.
"Here, here!" As soon as Chen Daojun finished speaking, a trader stood up and shouted loudly: "Red chips rose instead of falling, and the whole line is green. It should be their performance to boost the market."
"Really?" Chen Daojun quickly bent down and switched the board to red-chip stocks, only to find that among dozens of red-chip stocks, basically all of them were green.
Especially for large-cap stocks such as the telecommunications industry, the buying side is full of large-scale orders, while the selling side is much less.
As a result, among the many red-chip sectors, red-chip stocks stand out and become one of the few bright spots in the market.
It's a pity that the liquidity of red chips is not very good because of the large market.
Therefore, even if there is a rising performance, the overall support for the broader market is not obvious, so Chen Daojun and others ignore their performance.
A few minutes ago, just as the Hang Seng Index broke through 7000 points.
"Buy with all your strength, and the futures index will also give me the next step. I must hold 7000 points today!"
Amidst all the sighs, Chen Daojun's loud voice sounded suddenly, and he finally made his move: "Sweep up the heavyweight stocks for me, only buy but not sell, swallow them all! The futures and index also stand up to me, and must be guarded!" 7000 points! All index stocks, give me three price increases, no, five price points!"
After being busy for a long time, they finally waited for the trading order. The traders ignored the regret for the performance of the market just now, and quickly invested in buying.All of a sudden, the entire trading floor was buzzing with people again, and the broker's phone rang one after another.
"The current price of HSBC Holdings? 173 yuan? Buy! Clear all the goods below 175 for me! Yes! I want it!"
"Don't ask how much, just ask for as much as you have! Place an order for me!"
……
Just as everyone was investing in the wave of buying Hong Kong stocks, Chen Daojun was nervously looking at the numbers of the Hang Seng Index futures and directing the traders to place orders.
"6970, 100 lots, buy! Yes, yes!"
"6996, 200 lots, buy, give me the top!"
"Below 7000 points, don't ask how many there are, just eat them all, and the index will rebound immediately!"
Soon, there was a large-scale buying in Hong Kong stocks, which made the index start to recover after falling to 6970, and the range was very fast.
The 10-point mark was regained in almost 7000 minutes.
At the same time, the funds that emerged in Hong Kong stocks and Hang Seng Index futures caught the short sellers by surprise. Due to insufficient preparation in advance and doubts about the intentions of the bulls, the main short sellers did not organize an effective counterattack, and watched the Hang Seng Index rebound again. to 7100 points.
Afterwards, there was not much trading time left for both long and short parties, and the trading of the whole market gradually entered the garbage time. In the end, the Hong Kong stock index closed at 7134 points, with a slight increase throughout the day, which was basically an ordinary day.
When the closing bell rang, Chen Daojun took a breath, ordered the traders to withdraw the unfilled pending orders, and asked Park Changhao, "How much?"
"23.6 billion Hong Kong dollars!"
Park Changhao said something expressionless, and then the corners of his mouth twitched slightly, and he said: "The situation is not bad, today's trading volume is not very large, and the determination of the short sellers is not very obvious, so we can only use such a small amount of funds. achieve this effect.”
"23.6 billion? That's more than 3 billion US dollars. This amount is indeed not bad!"
Chen Daojun nodded noncommittally, then heaved a long sigh and said, "This is just the beginning!"
He knew that once Soros and the others tested the truth, the subsequent battle would not be so simple. Although he had nearly 20 billion US dollars, in front of hundreds of billions of international speculators, he was no different from a mantis arm.
Now it depends on when Soros and the others are going to make a move.
He is like the vanguard general when the two armies are at war. Although he can't talk about beheading the opponent, he has already done what has to be done.
……
Soros, who was far away across the ocean, also smiled and said, "This is the real beginning!"
Robertson beside him nodded in agreement and said: "The bulls are indeed more cunning than we imagined, but we have sold tens of billions of Hong Kong dollars in the money market. I believe that the interest rate of Hong Kong dollars will rise sharply tomorrow. They will really realize how good we are."
"Hahahaha, let's make those guys happy today, tomorrow I hope they can still laugh."
On the evening of the 15th, as soon as the European and American trading sessions opened, in the London and New York markets, the trend of selling Hong Kong dollars was set off again.
Led by the Quantum Fund, speculators once again pushed the exchange rate of the Hong Kong dollar closer to 7.75, but the HKMA quickly launched a counterattack. 1, but the speculators once again stubbornly pushed the Hong Kong dollar back to the level of 7.7435, where the two sides shook hands and made peace.
Originally, due to the two rest days, speculators’ position costs have increased, so the Hong Kong dollar opened at 7.7411, which is not a small increase compared to the previous trading day.
The HKMA also intends to use this opportunity to snipe the speculators, but the stubborn speculators did not restrain themselves. Instead, they showed a relentless posture, which completely defeated the wishful thinking of the HKMA.
On this day, speculators threw out a total of about 450 billion Hong Kong dollars, and the trading volume was refreshed again.
From the beginning of August to the present, speculators have sold hundreds of billions of Hong Kong dollars from the market, consuming close to 200 billion US dollar reserves of the Hong Kong Monetary Authority.
But both the offensive and defensive sides are very clear that if they want to overwhelm the Hong Kong dollar system, this is only the beginning.
So far, the speculators have only consumed up to 25% of Xiangjiang Mansion's foreign exchange reserves, and the remaining half is still lying firmly in the account of the Monetary Authority.
Although the currency market is still as stable as Mount Tai, the reaction of the capital market is completely different. As soon as the market opened on the 16th, the lending rate soared by 5%, reaching an astonishing 15% annualized.
The bank balances released by the HKMA show.
In the past day, the circulation of the entire Hong Kong financial system has decreased by 720 billion Hong Kong dollars. Although the Monetary Authority also promised to inject funds to increase liquidity, the entire market is still shrouded in pessimism.
The bad news hit, and the stock market was under pressure.
Although yesterday's market can only be regarded as a minor disturbance, today, in the face of two days of bad news, the Hang Seng Index fell 9 points at the opening, and then the stock market fell all the way, it was like breaking a bamboo.
In this situation, Chen Daojun strictly ordered Xin Zhizhu to stand still.
Without bulls blocking, the index soon fell below 7000 points.
After breaking through the integer point, the index still couldn't stop the downward trend, and continued to explore crazily, and then fell below 6900 points and 6800 points, and finally encountered a strong sniper attack at 6720 points, although it fell to 6700 points in the intraday.
But under the tenacious sniping of the bulls, it finally managed to give up a little bit, closing at 6775 points.
"Down 224 points all day, or 3%."
Park Changhao dumbly reported a bunch of numbers, and said worriedly: "This is not going to work, our more than 20 billion will be locked up."
"Yes!" Xin Zhizhu quickly echoed: "Their funds are too strong, and if there is a slight disturbance in the periphery, we will be in a deep quagmire."
After finishing speaking, he was still a little unsatisfied, broke his fingers, and said: "Do you know how many rumors there are today? Among other things, there are several rumors about the heavyweight HSBC, and some say that their bad capital seriously exceeds the warning. There are even rumors that HSBC North America has suffered major losses in investment, and every rumor has its nose and eyes, and it is difficult for people to distinguish between true and false.”
"There are also various news in the real estate industry. There was a rumor today that Xiangjiang Mansion will reduce government spending. As soon as this news came out, the stocks of MTR and Sun Hung Kai immediately fell by more than [-] percent, directly dragging down the entire real estate sector! "
Park Changhao also added in a timely manner that the real estate sector he was in charge of had the most serious decline among all Hong Kong stocks today, with a full drop of more than 6%.
"It's far more than that!"
Chen Daojun sighed, and said worriedly: "These can still be clarified. As long as the parties or the company make an announcement, the stock price will rise. The biggest question now is whether the Huaxia currency will depreciate? If it depreciates, the rate will increase." What is it like? This is the most important factor dragging down the entire Hong Kong stock market.”
The current general opinion in the market is that it is difficult for Huaxia currency to guarantee the current currency value under the premise that currencies in the entire Southeast Asian region have depreciated.
Because the pressure from international trade will make the goods from China uncompetitive, and China, which is driven by foreign trade exports and economic growth, urgently needs to increase its export quota, so it is difficult to ensure that the value of the Huaxia currency will continue to be stable.
Some economists from investment banks have even suggested that the Huaxia currency should be devalued by 5% to 15%, which would be a reasonable price.
In related research reports, the investment bank gave China's economic growth in the first two quarters, and the obvious slowdown has strongly shocked the attention of every investor.
In the report, these economists who speculated on the depreciation of the Huaxia currency wrote:
"...If you choose to depreciate at this time, it can stimulate the development of the foreign trade industry, enhance its competitiveness, and continue to stimulate economic growth. Second, it can effectively prevent the outflow of funds and ensure the confidence of foreign investors... ..."
Of course, except for the voices calling for the devaluation of the Huaxia currency.
There is another voice that the Huaxia currency will not depreciate.
Some economists mentioned that currency depreciation will fall into a vicious circle of competing devaluations. Once caught in this vicious circle, the prices of exported products will only get lower and lower.
Once the importing country launches a trade war, the consequences will be disastrous. Not only will it not stimulate economic growth, but it will also have a major impact on the export industry.
Bankruptcy, unemployment, deflation and other problems will follow one after another.
Not to mention the impact on the overall situation, the Xiangjiang market alone will have a huge impact on whether the Huaxia currency will depreciate in the end.
This kind of impact is not only aimed at companies listed in Hong Kong, but also affects the Hong Kong dollar and even the entire Hong Kong economy.
This is also one of the important reasons why the Xiangjiang stock market has been sluggish in the past few months.
After quickly going through these views in his head, Park Changhao sighed, and said: "Now there is another view in the market, that is, 'Hong Kong dollar M yuanization', canceling the issuance of Hong Kong dollars, and making all the currency in circulation Change it into US dollars, because if this is the case, international speculators will have no reason to attack Xiangjiang, hey, it is really speechless!"
"Hong Kong dollar dollarization?" Chen Daojun chuckled and said disdainfully:
"Handing over the power to issue coins to others? This is simply a joke in the world. Seigniorage falls into the hands of others. Looking around the world, no country will do this!"
"you're right!"
Chen Daojun nodded, and then explained: "I'm just making an analogy. There are different opinions on the news in the market now, and it's hard to tell whether it's true or false, but they all affect investors' decision-making to a certain extent. Therefore, this point can also be used by us. By using it, we can also release news, news that is beneficial to us!"
"Us?" Park Changhao and Xin Zhizhu looked surprised. After a long while, Park Changhao showed a thoughtful expression on his face.
The TV on the wall was broadcasting a financial program, and a well-known expert sat there in a suit and leather shoes, accepting interviews from the host, and seemed to explain today's stock market in a logical manner.
Although Liu Dawei is well-known in the financial circle, this kind of fame is limited to a certain circle.Compared with the overall situation, the role he can play is extremely limited.
After all, today is different from the past, and many people have no idea if they want to play against international speculators.
Although Liu Dawei boasted on the TV program that the Hong Kong stock market had bottomed out in the past two days, the consecutive two-day decline has seriously damaged his credibility.
So wanting to use him to distribute news and affect the overall situation, in Xin Zhizhu's view, is a bit of a dream.
Park Changhao didn't speak, looked at Liu Dawei on TV, and then at Chen Daojun with a confident face, suddenly he seemed to realize something.
A pair of eyes kept changing between the two scenes, and he didn't know what he was thinking.
"Not bad!"
Looking at Xin Zhizhu who couldn't believe it, Chen Daojun smiled disapprovingly:
"The Hong Kong stock market fell so badly today, there should be a slight rebound tomorrow. However, I will not tell you my specific plan until the news I am waiting for comes. You just wait and see. It will definitely be scary when the time comes." You jump!"
"I hope so!" Xin Zhizhu muttered dissatisfiedly, and then reminded:
"Another 8 million yuan was spent today. Although we have only used less than half of the funds so far, if this momentum continues, it is possible for the Hong Kong stock market to fall to 5000 points. Boss, you have to be psychological Prepare."
Xin Zhizhu was very distressed by the money, and hinted at Chen Daojun insinuatingly.
"In addition, if the Hong Kong dollar is really untenable, then even we will suffer!"
After thinking about it, Xin Zhizhu added.
Chen Daojun didn't speak, just looked at Xin Zhizhu with a frown, and suddenly a thought couldn't stop popping up in his mind: "This guy really thinks of himself everywhere, but unfortunately, he doesn't know the general situation! "
He hoped that Xiangjiang Mansion could see clearly as soon as possible, so as not to waste money.
But the market is not developing according to people's wishes.
After a slight retreat on August 8, due to the decline of European and American stock markets on August 16, coupled with the unsatisfactory recovery of the previous day and the still high interest rates, the Hang Seng Index appeared again. The market fell.
The opening price was 6830 points, and there was a slight correction in the intraday session, but it was quickly overshadowed by pessimistic sentiment. Investors almost lost their confidence and rushed to sell their stocks first.
The Hang Seng Index once fell to 6486 points during the session, but with the support of several stocks of funds, the Hang Seng Index barely rose to 6610 points, falling more than 200 points all day, and the decline expanded.
So far, the Hang Seng Index has fallen from the highest point of 97 points in 16820 to 6610 points today, a full drop of more than 10200 points, a drop of more than 1995%, hitting a new low since [-].
What kind of concept is this?
For example, a stock bought for 10 yuan fell directly to 4 yuan!
So even if the decision-maker of the fund bought the corresponding shares in 95.
If dividends and dividends are not calculated, then so far, his book is still a loss.This also means that in the past three years, his investment performance has been negative, a complete failure!
And for those investors who do not buy stocks strictly according to the index ratio, no matter whether you enter the market from 7000 points, 8000 points or 10000 points, how complicated and changeable the capital allocation is, until this day.
The stocks they hold are all losses.
And the higher the point of entering the market.
The more serious the loss.
The performance of the entire stock market plummeted to more than [-]%, let alone those individual stocks.
Some stocks even directly entered the ranks of penny stocks due to poor performance, and were completely reduced to junk stocks.
Along with the decline in the stock market, there is also the real estate industry.
due to falling house prices.Many people went bankrupt overnight.
From rich to "negative".
The market is full of properties for free transfer, and the news of someone jumping L on TV from time to time reminds people how bad the economic environment is today.
But the strange thing is that the speculators are not in a hurry, and they have not entangled with them in Hong Kong stocks at all.
It's just a blunt knife cutting flesh and slowly suppressing the stock market.
On the evening of August 8, until then, Xiangjiang Mansion finally understood that the foreign exchange market was nothing more than a smoke bomb, and the stock market and futures market were the main battlefields.
Therefore, the Xiangjiang government resolutely decided to intervene in the market with huge foreign exchange funds and land funds, and fought to the death with the international speculators headed by Soros.
Before deciding to enter the market, the boss of the Xiangjiang Mansion stood by the floor-to-ceiling windows and cried quietly two or three times at night, feeling the great pressure.
For this reason, he found Huo Lao, Lao Li, and Cao Biao to come over, hoping to find confidence from them.
After discussing with them and deciding to enter the market, the boss is ready to fight with the national speculators.
Therefore, from August 8 to 18, in the face of attacks from international speculators, Xiangjiang Mansion began to change its previous passive situation, and has been responding by raising interest rates.
In short, it is to take all Hong Kong dollars from the low price in the foreign exchange market. When speculators fluctuate and adjust, they use fiscal funds to eat all of them, stabilize the exchange rate at 7.75, and transfer it to the bank to stabilize the interest rate.
With this response, speculators have no chance to take advantage of it, and they have to pay interest on lending.
As a result, the Hang Seng Index rose from 6610 points before Xiangjiangfu entered the market to 7420 points. The battle between international speculators and Xiangjiangfu has become fierce these days.
"today?"
In Manhattan, New York, in the office of Quantum Fund, Robertson is having the final communication with Soros before the opening.
"Yes, it's today!"
Soros nodded, with a smug smile on his face: "Look, Wall Street Journal, everyone will read this report!"
This is also part of his plan.
"Okay!" Robertson nodded noncommittally, and after thinking about it, he asked again:
"George, this article of yours will definitely attract the attention of the whole world. At that time, not only the Da Mao market, but also the markets in Europe and country M will be affected. The problem is, we really need to take the risk of offending Da Mao Come to publish this article? You know, even if you don't appeal, the ruble won't last long!"
"No, this is just my strategy, you have ignored another market!"
Soros knocked on the table and reminded proudly: "Although we can take the opportunity to make some money, don't forget that our real battlefield is in Xiangjiang, and Xiangjiang's stock market fell again today, and it has fallen to the last three This is the lowest level since the beginning of the year, so we have to take advantage of this time to give them another heavy blow and completely beat them down!"
While speaking, Soros made a punching movement.
Although the posture is not standard, it is enough to express his meaning clearly.
"Haha, you are still as motivated as when you were 30!"
Robertson understood what he meant. The real decisive battle was about to start today and tomorrow. He was taken aback. He tried his best to lean on the chair to restrain his slightly trembling body, and soon he smiled nonchalantly.
"Well, we won't get together tomorrow. I have explained to everyone else that I have a total of 270 billion US dollars, some of which have been leveraged. Add your 40 billion, and we have a total of more than 300 billion US dollars. bullets."
This kind of funds is enough to deal a fatal blow to the shaky Hong Kong stock market. Thinking of this, he stood up and waved at Robertson: "Man, after finishing this vote, our net worth will skyrocket by double|!"
Seeing that he left his office full of confidence, Soros sat down again with a lot of thought.
He glanced at the news report on Xiangjiang again, picked up a cigar, lit the newspaper, and muttered, "Sorry, this time! I'm sure I'll win!"
……
The next day.
In the "Wall Street Journal" published on the 28th, an article written by Soros on the economic situation in Damao was published.
In the article, Soros strongly appealed that the head of Da Mao should face up to his own economic problems and take active and effective measures to solve the current problems.
In the article, he gave the solution: the ruble should depreciate by 15% to 25%.
The news immediately shocked the entire market, and the New York stock market fell accordingly. The Dow Jones Industrial Index fell from 9580 points in the opening session to 9423 points in the closing session, dropping 147 points, or 1.53%, all day.
The Financial Times Index in London fell from 5342 points to 5271 points, down 71 points, or 1.32%.
And these are just the beginning, the market in Xiangjiang has not opened yet!
"Did you see it? Did you see it? Is this the news you were waiting for?"
In the middle of the night, in the dead of night, everyone was sleeping soundly.
At this moment, the phone in Chen Daojun's room rang loudly.
The sleepy Chen Daojun muttered a few words in dissatisfaction, and turned on the desk lamp.
Looking at the time, it was three o'clock in the middle of the night, and he picked up the phone next to the bed. Before he could say his greeting, he heard a questioning sound like a machine gun coming from the microphone.
"Mr. Huo, what time is it? You got up so early? What's the matter? I don't know anything!"
Chen Daojun collected himself, and when he heard that the questioner on the other end was Mrs. Huo, he couldn't help but smiled wryly, and complained a few words along the way.
"I can't wait to burn my eyebrows, but I made a guarantee, how can I sleep?"
Mr. Huo on the other end of the phone was stunned for a moment, but after hearing Chen Daojun's vague words, he suddenly felt helpless:
"Chen Sheng, don't you know? Soros published an article in the "Wall Street Journal" and directly targeted Da Mao. European and American stock markets fell because of his statement. After dawn, Hong Kong stocks are bound to suffer again. Press it, this is not a joke!"
"Is it finally here?"
Chen Daojun muttered something to himself, and immediately woke up from his hazy state.
After a jolt, he quickly turned over and said with great excitement: "Here we come! Finally we are here!"
Due to being so excited, even his voice trembled subconsciously.
"Coming? What's coming?"
Huo Lao didn't react for a while, and still complained to himself: "The news analyzed by the Financial Management Bureau is that the worst market has yet to come... wait, wait, this... this is what you said Important information?"
"Not bad!"
While putting on his clothes, Chen Daojun hurriedly replied: "The opportunity for the Jedi to fight back has finally come! The signal I have been waiting for has finally come. From tomorrow, oh no, from today, we can openly declare war on international speculators! "
"what?"
Mr. Huo was very astonished, and he didn't speak for a long time. After a while.
He just sighed and said heavily: "Chen Sheng, I now believe in your judgment, and I also believe in your determination and ability, but our funds are limited, and confidence is more important than gold. Does the news released by Ross mean anything to the international financial market, and if there is another drop, can stockholders withstand the pressure?"
"Soros is just one person. Don't be too mythical about him. It's okay to interfere with the European and American markets with your mouth. In the Xiangjiang area, the dragon crossing the river has to be entangled, and he can't be rampant!"
Chen Daojun's categorical words sparked a glimmer of hope in Mr. Huo: "Could it be, what else did you arrange to succeed?"
"Of course!"
At this time, Chen Daojun had finished dressing up: "Don't worry, neither country M nor Europe will let the news spread. Today I am going to make a big attack. No matter what the price is, I will support the Hang Seng Index!"
"At the same time, I hope you can help coordinate the news of Xiangjiang Prefecture's rescue of the city. Tomorrow is the time to complete the battle. Don't hold back!"
"no problem!"
Mr. Huo nodded solemnly, and solemnly promised: "Besides, do you have enough funds? I'm still a bit thin on HSBC. I can exchange a large amount of funds, and I'm ready to enter the market to rescue the market at any time."
"HSBC? Take care of yourself first!"
Regarding his statement, Chen Daojun laughed: "Tomorrow they will definitely cooperate with Soros' painting and intensify their attacks. As long as the stability of the Hong Kong dollar market is guaranteed, the stock and futures markets will no longer be a problem."
After hanging up the phone, Chen Daojun contacted Robertson decisively.
About 10 minutes later, Chen Daojun smiled.
Soros must never have imagined that his meticulous plan would fail on a key matter.
You must win!
That being the case, why is Chen Daojun willing to let HSBC's funds get involved?
You must know that these stocks bought at low prices will be sure to make profits after the limelight passes.
Under such circumstances, how could he be willing to get a piece of the action?
On August 1998, 8, the stock index futures delivery period, Xiangjiang Mansion and international speculators finally ushered in a decisive battle!
(End of this chapter)
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