Video Game Empire

18 Harbour Road, Wanchai, the 66th floor of the tallest building in Hong Kong - Central Plaza Building, this entire floor is the office of a company called Far East Financial Investment Company. And the owner of this Far East Gold Investment is Liu Ruanxiong, a well-known "bones dismantling expert" in the Hong Kong stock market!

At 8:30 in the morning on August 25th, there is still one and a half hours before the opening time of the morning market of the Hong Kong Stock Exchange. All the employees of the company, including the big boss Liu Ruanxiong, have already taken their seats early. Everyone understands that from today. At the beginning, the final battle between the Hong Kong government and the international hot money is about to start.

Because the 28th at the end of each month is the final settlement day of the current month contract of Hong Kong futures. A large number of short-selling contracts in the August HSI futures in the hands of the Tiger Fund, Quantum Fund and other major short sellers must be closed before the market closes on the 28th.

Their previous average opening price was around 11,000 points, while the Hang Seng Index closed at 11,054 points yesterday. That is to say, based on yesterday's closing price, the international hot money currently has a floating loss of 2,700 Hong Kong dollars per futures contract.

If they want to turn losses into wins, they need to suppress the Hang Seng Index to 11,000 points before the market closes in the afternoon on the 28th. Of course, if the international hot money continues to be bearish on the Hang Seng Index in the long term, you can actually choose to deliver the August contract first, and then re-build the position to buy the September bearish contract. But just yesterday, the Hong Kong Futures Contracts Exchange announced that starting from next month, for customers who hold more than 10,000 HSI futures contracts, a special margin of 150% will be imposed, that is, the margin for each HSI futures contract will be HK$80,000. Adjusted to HK$120,000.

That is to say, if the international hot money is going to continue to fight the Hong Kong government on the Hang Seng Index futures in September, their cost of opening a position will increase by 50% compared with the original, which is undoubtedly a huge pressure for highly leveraged futures trading. Therefore, the main bears are likely to choose to have a decisive battle with the Hong Kong government in the last four trading days of August!

"Liu Sheng, are you sure you want to buy a large amount of stocks in the Oriental Research Institute as soon as the market opens?" The trader looked at his watch. There were still five minutes before the stock market opened today, so he turned to his boss behind him, and finally confirmed the transaction again. instruction.

"Don't be afraid, as long as I don't call to stop, the stock of Oriental Research Institute will be counted for me, and they will all be swept in! We are pursuing long-term value investment this time. Even if the stock price of Oriental Research Institute has fallen recently, it will be a big deal. In two years, I don't believe that the stock price won't come back!" Liu Ruanxiong said in high spirits.

His rhetoric made other people in the trading room confused. You must know that their Far East Gold Investment has always only engaged in short-term speculation, and long-term investment is not their area of ​​expertise. Has the boss been dropped?

Everyone's doubts did not last long. The Hong Kong stock market had just opened within five minutes, and the Oriental Research Institute issued a major transaction announcement. In order to make the shareholder structure of listed companies more diversified, the company's board of directors and management agreed to introduce IBM and Texas Instruments. Both companies act as strategic shareholders.

The Oriental Research Institute will issue 200 million new shares and 100 million new ordinary shares to the two companies by way of share exchange, of which the Oriental Research Institute's shares are priced at HK$220 per share. Of course, the two deals still need to be approved by Hong Kong and U.S. authorities if they are to finally fall under the hammer.

After the transaction is completed, IBM and Texas Instruments will hold 6.67% and 3.33% of the shares of Oriental Research Institute, respectively, and will be the company's second and third largest shareholders, respectively, and will receive a board seat.

The reason why Li Xuan suddenly introduced two strategic shareholders is also for the consideration of better development of the Oriental Research Institute in the next step! After all, the business of the Oriental Research Institute in the past few years has always been based on personal consumer products, and it is relatively weak in the enterprise market and the government market.

On the contrary, IBM's customer base is basically government departments, the military, banks, large enterprises and scientific research institutions. End-consumer products are its weak point, so when IBM competed with Ikon in the personal computer field, it can be said that it was repeatedly defeated.

As for Texas Instruments, after Intel's collapse, it has become the largest semiconductor company in the United States. However, the strength of Texas Instruments lies in industrial semiconductors, such as various chips in the fields of medical equipment, aerospace, and industrial automation control. Texas Instruments has a huge market share!

The main business of these two companies does not have much competition with the Oriental Research Institute. Instead, they can join forces to a certain extent to achieve complementary advantages. What's more, 10% of the shares will not affect Li Xuan's absolute control over the company. Instead, Li Xuan can enter the board of directors of IBM and Texas Instruments through stock exchange.

Moreover, after the completion of the share swap transactions with IBM and Texas Instruments, the Oriental Research Institute can continue the endorsement of these two companies, further dispelling many concerns of European and American countries about themselves.

Not to mention the impact of these two equity transactions on the future development of the Oriental Research Institute, at least for the Hong Kong stock market on August 25, 1997, it was like a powerful bomb!

The closing price of Oriental Research Institute yesterday was 195 Hong Kong dollars, which has dropped by nearly 20% from the highest point of 240 dollars at the beginning of the year. But IBM and Texas Instruments are now willing to accept shares of Oriental Research Institute at a price of HK$220 per share in a share-swap transaction with Oriental Research Institute.

This undoubtedly means that the current actual share price of the Oriental Research Institute is far undervalued. Therefore, within less than an hour after the Oriental Research Institute released the transaction announcement, the company's stock price was quickly pushed up to HK$215, an increase of as much as 10%.

As a super company that accounts for more than one-fifth of the total market value of the Hong Kong stock market, the Oriental Research Institute's weight in the Hang Seng Index is also terrifyingly high, reaching 40%. So with the soaring stock price of Oriental Research Institute, the Hang Seng Index was also pushed up by more than 400 points.

This is undoubtedly an unprecedented super black swan for the bears of the HSI! Calculated at a 1-point index of HK$50, in just this one hour, the floating loss of each short HSI futures contract exceeded HK$20,000.

The total margin of a contract is only 80,000 Hong Kong dollars. Many bearish contracts with relatively low positions have reached the warning line for closing positions in an instant, and positions may be forcibly closed at any time without additional margin.

The Hong Kong government, which is the main force of the bulls, will naturally not miss this opportunity to beat the underdogs and start to frantically buy other blue-chip stocks except the Oriental Research Institute. Finally, when the market closed on the 28th, the Hang Seng Index was pushed up to 11700 points. After this battle, the entire short party lost more than 20 billion Hong Kong dollars~www.readwn.com~ It can be said that the vitality is greatly damaged!

Under normal circumstances, it is impossible for Wall Street not to leak the slightest rumor in advance, such as the multi-billion-dollar share swap transaction between the Oriental Research Institute and IBM and Texas Instruments. You must know that in addition to hedge funds such as Tiger Fund and Quantum Fund, Wall Street investment banks such as Goldman Sachs and Morgan have also participated in the encirclement and suppression of Hong Kong dollars and Hong Kong stocks.

However, the Wall Street investment bank that brokered the share swap was the Hillson-Lehman company previously acquired by Li Xuan, so confidentiality can be achieved very well. And about the negotiations between these three companies, in fact, there were various rumors as early as last year.

But it is said that there was a big disagreement on the valuation of the Oriental Research Institute between the American company and Li Xuan, and in the end the two sides were forced to suspend the negotiation because the differences were too great. So the market gradually stopped paying attention to this news.

But this is actually just a smoke bomb released by Li Xuan, and the differences between the two sides are not as big as the outside world thinks. Li Xuan deliberately delayed the negotiation progress, waiting to kill some people by surprise at the right time!

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