Chapter 872: 864 Soros: Why? Hong Kong Stocks are so Difficult

Affected by public opinion,

on July 21st, the Hang Seng Index opened low by 120 points, directly falling below the 9,800-point mark.

Just past half of the morning session, international hot money increased its shorting efforts. Weight stocks such as HSBC Holdings, Standard Chartered Bank, Hang Seng Bank, Wharf Group, Zhao Ye Group, Hongji Group... were sold off in large quantities, and stock prices slid straight down.

Citizens who were panicked by public opinion sold off the stocks in their hands one after another...

At the close of the afternoon, the index reported 9,750 points, a single-day decline of 185 points.

July 22nd, the downward trend did not stop.

Early in the morning, the media started reporting: In the international exchange market, the Hong Kong dollar against the US dollar exchange rate again touched the weak-side convertibility undertaking of 7.76.

Market panic had spread to the stock market, the Hang Seng Index continued to fall, closing at 9,600 points.

At this time,

in the office of the Soros Fund Company, the atmosphere started to become cheerful.

Over the following three days, July 23rd to 25th, the stock market decline became more and more fierce.

On the 23rd, it fell to 9,520 points; on the 24th, it fell to 9,450 points; on the 25th, it fell below 9,400 points, finally closing at 9,382 points.

In just one week of 5 days, the Hang Seng Index fell by a full 500 points!

This number made the Soros Fund Company cheer.

Rodney Jones smiled, took out his mobile phone, and dialed Soros's international phone in New York:

"Boss! Good news!"

"The Hang Seng Index has fallen to 500 points! Now it's closing at 9,400 points!"

Soros's approving voice came from the other end of the phone: "Very good, Rodney, keep up this momentum. Before the end of the month, I want to see it fall below 9,000 points."

"And our target, 4,000 points!"

"Yes! Sir! I will definitely not let you down!" Rodney Jones nodded forcefully. After hanging up the phone, he turned to face everyone in the office and clapped his hands: "Did you hear that? Sir is very satisfied! Tonight is Friday, everyone has a holiday, go celebrate! The company covers all expenses!"

"That's great!"

"Thank you, Boss!"

"Oh yeah!"

The office instantly boiled over, and some people high-fived each other.

In their view, the defense line of the Hong Kong stock market gradually collapsed, finally being torn open by them, and next, it was a wild run towards the 4,000-point target.

Rodney Jones looked at the cheering crowd in front of him, and then looked at the Hong Kong night view outside the window, a confident smile appearing at the corner of his mouth:

"Hong Kong... is nothing more than this."

July 28th.

New York,

In the top-floor conference room of the Soros Fund Management Group, the air conditioning was running at full blast, yet it could not suppress the sweltering heat and excitement inside the room.

Outside the floor-to-ceiling window was the prosperous skyline of Manhattan, while inside the room gathered a group of "hunters" stirring up the Asian financial market.

Soros sat at the head of the long table,

followed by representatives of more than ten international hot money institutions such as the Tiger Fund, Robertson Hedge Fund, and European Emerging Markets Fund.

"Everyone,"

Soros looked around,

"The war in Southeast Asia has ended, and the profits we harvested in Thailand, Indonesia, and South Korea have returned one after another..."

"Now, it's time for the last target — Hong Kong!"

He raised his hand to signal the assistant to play the PPT. On the screen immediately appeared the trend chart of the Hong Kong Hang Seng Index over the past month: sliding all the way from over 11,000 points in the middle of the month to 9,400 points...

"In July, we have completed the preliminary layout."

"The Hong Kong dollar exchange rate has touched the weak-side convertibility undertaking many times, and the Monetary Authority has consumed nearly 10 billion US dollars in foreign exchange reserves;"

"The stock market fell to 9,400 points..."

"If we maintain this index until the end of August, we can also earn more than 10 billion."

"However, this is not enough!"

Speaking of this, he paused, his eyes becoming sharp:

"I think the timing for the general offensive is coming."

"I plan to officially launch a general offensive against Hong Kong on August 5th!"

As the words fell,

smiles appeared in the conference room one after another:

"Finally waited for it?"

"Good!"

"I can't wait a bit."

Soros continued:

"The general offensive is divided into two steps:"

"First, the foreign exchange market, a single-day sell-off of no less than 15 billion Hong Kong dollars, completely piercing the Monetary Authority's intervention capability...

"Second, the stock market, concentrated sell-off of 33 weight stocks such as HSBC and Hang Seng Bank, the goal is to smash the index below 8,000 points within 5 days..."

(Image: Real history, general offensive decline)

Next,

all hot money heads started to conduct more detailed consultations on this plan.

2 hours later,

the plan was finally determined.

At this time,

service personnel carrying champagne walked into the conference room.

Placed glasses of champagne in front of everyone's tables.

Soros picked up the champagne glass on the table, paying tribute:

"Everyone!"

"For the 'collapse' about to come to Hong Kong, for the 50 billion profit we are about to get, cheers!"

Everyone picked up their glasses,

"Cheers!"

The crisp sound of clinking glasses echoed in the conference room.

That is the sound of celebration, the sound of wealth.

The next day, over in Hong Kong.

On the sea surface behind Lantau Island,

Director Director Director Guan Zu Zu was again fishing with Financial Secretary Zeng Sir and Monetary Authority Chief Ren Sir.

In the distance, the new airport had already started operating, and a plane would land every few minutes, busy without stopping.

Three fishing rods fell on the sea surface.

Ren Sir had huge panda eyes, looking haggard, obviously not having been tossed lightly during this period.

Zeng Sir cursed: "In the past two days, the short orders for futures have increased by another 20,000, which means 10 billion in capital has come to Hong Kong."

"These international hot money really think Hong Kong is their gold mine, which can be dug at will."

Ren Sir's mouth twitched: "However, I am really a bit guilty... more than 100 billion, plus others, there should be 200 billion, I am really afraid I can't hold it."

Zeng Sir: "Then don't wait, tomorrow is Monday, start recovering the lost territory."

Director Director Director Guan Zu Zu nodded: "Recovering lost territory is fine, but take it slow... I suggest that Hong Kong's economic financial report for the first half of the year be released a bit later. The news I got here is that on August 5th, they will start the general offensive."

Zeng Sir had a flash of inspiration: "You want to release the financial report only on the 5th or 6th?"

Director Director Director Guan Zu Zu: "Correct."

How was Hong Kong's financial report in the first half of 1998?

Director Director Director Guan Zu Zu had already seen it.

Its data can only be said — very stunning!

The main reason is — 150+ companies going north, relying on low labor costs and the huge population market of the East, the scale developed rapidly and doubled and expanded.

It is also for this reason that this first-half financial report was released on July 20th, but it has been suppressed and not released.

Zeng Sir laughed: "Good, that's settled!"

... ===== CHAPTER 873 =====