Chapter 874: 866 Guan Zu Press Conference

Wednesday, August 5th.

Finally, the general offensive day set by Soros's capital arrived.

They first in the London foreign exchange market, then in the New York foreign exchange market,

with Morgan Stanley, Goldman Sachs, Merrill Lynch, Union Bank of Switzerland, Europe... internationally renowned investment banks, jointly with US investment banks and hedge funds, sold off as much as 40 billion Hong Kong dollars in the market in a short time.

Fortunately,

the Hong Kong government had already obtained intelligence from Guan Zu and used a large amount of US dollar reserves to strongly take over the market in the foreign exchange market, collecting all the 20 billion Hong Kong dollars sold by international speculators.

Making the Hong Kong dollar exchange rate stably maintained at the level of 7.75:1,

subsequently,

just as Soros and the others were preparing a large number of propaganda drafts, all of which were shocking, wanting to massively publicize this matter in Hong Kong...

Hong Kong media refused them one after another.

"Reporting is fine, but we want to be as moderate as possible, not causing panic among Hong Kong citizens..."

"Sorry, we can't publish this draft of yours. If you really want to publish it, then we have to change the draft."

"Want to be on the news? Then you have to follow our rules."

Soros and other international hot money almost vomited blood.

At the critical moment, you do this to me?

Flip the table (╯‵□′)╯︵┻━┻!

Thought they had already handled the media, but were kicked by Guan Zu.

Although there is a big bearish news, it can't be publicized, what the hell!

Soon,

the sun shifted to Hong Kong.

The Hong Kong stock market officially opened, and the international hot money led by Soros prepared massive component stocks.

Crazy!

Sell! Sell! Sell!

Smash! Smash! Smash!

HSBC Holdings, Zhao Ye, Changjiang, China Gas, Hong Kong Electric, Electric Lighting Company, Hang Seng Bank... and other weight stocks with huge index components suffered unprecedented selling pressure.

They seemed to have endless stock chips in their hands, crazily smashing towards the market, attempting to suppress the stock prices of these leading stocks and drive the entire Hang Seng Index to fall sharply.

However,

the Hong Kong government and local capital were well prepared at this moment and also prepared a large amount of capital to quickly take over the market.

These funds were like Dinghai Divine Needles, constantly taking over the sell-offs of international hot money when stock prices plummeted.

For a time, on the quotation display screen in the trading hall, stock price numbers jumped up and down, fluctuating violently.

Hong Kong's financial market was like a battlefield with intense confrontation.

Immediately after,

at 10:00 AM,

the Hong Kong government officially announced Hong Kong's financial report for the first half of 1998.

Because 150+ companies went north to invest, the economic data for the first half of the year was extremely stunning.

"In the first half of 1998, under the complex international financial environment, Hong Kong's economy relied on the dividends of mainland economic development and local industrial resilience to achieve higher-than-expected high-speed growth."

"According to preliminary accounting, the first quarter GDP in the first half of the year increased by 5.1% year-on-year, a significant leap from the 3.2% growth rate in the second half of 1997, and the second-quarter growth rate reached 13.5%, with a strong economic growth momentum."

"In the first half of 1998, the boom of Hong Kong enterprises investing in the north fully erupted. A total of 168 key local enterprises created 17,000 related jobs for Hong Kong, and with the return of profits, the net profits of related listed companies increased by an average of 76.5%..."

"Hong Kong's economic growth momentum is strong, and deep integration with the mainland is the core code for achieving 9% high growth..."

"The long-term positive trend of Hong Kong's economy is irreversible!"

With the release of the government's financial report, the first to be affected were those elites.

Because only they would care about it at the fastest speed.

Then...

After reading it, they were all dumbfounded.

No, how did you get better?

How did you get better!

Second quarter GDP +13%!

What kind of perversion is this!

And it was while international hot money was constantly attacking Hong Kong.

Back then, Thailand was known as the number one of the Four Asian Tigers, and its GDP was only 10%.

So, what are you waiting for?

Stocks must rise!

Must soar!

"Buy!"

"Must buy quickly!"

Many elite classes hurriedly exchanged the stored US dollars for Hong Kong dollars, filled their securities accounts, and then crazily bought those blue-chip stocks. Many people also started to purchase red-chip stocks.

Before, they looked down on the mainland, and red-chip stocks were too annoying.

But now, the mainland is so awesome, red-chip stocks are my favorite!

And the elite class itself has a lot of money, plus they like to hoard US dollars. This time, to buy Hong Kong stocks, they exchanged US dollars back into Hong Kong dollars, causing the government and banks' US dollar reserves to rise rapidly.

Besides the elite class, major Hong Kong financial institutions also saw the Hong Kong government's financial report.

After reading it,

they gritted their teeth.

"Good you Hong Kong government, you hid it really deep!"

"For so long, not a single sound was leaked!"

The chief analyst of a large securities institution, while quickly flipping through the report, muttered to himself: "This data is too amazing. More than 150 companies went north to invest, and the profits are so exaggerated!"

Soon, the news spread rapidly among financial institutions.

In the trading rooms of major institutions, the atmosphere instantly became scorching hot.

A kind of near-crazy excitement replaced the original caution and panic.

"And looking at this trend, stocks will definitely rise!"

"Hurry, buy buy buy for me!"

With the entry of major institutions, a large amount of capital began to pour into the stock market like a surging tide.

The stocks of the 33 component companies that occupy an important position in Hong Kong's economy instantly became the focus of competition.

Other institutions set their sights on industry sectors related to northern investment, and stocks in fields such as manufacturing and services also welcomed the pursuit of a large amount of capital.

Huge buy orders constantly refreshed stock prices. The market, which was slightly sluggish due to the impact of international hot money, started to cook with fire at this moment, boom boom boom~~~~~~

Driven by capital, the stock market turnover expanded sharply, and stock prices soared all the way.

10:00 AM,

Hong Kong government office building,

a press conference was held.

Financial Secretary Zeng Sir, after 3 days, appeared in front of all media again.

In the press conference hall of the Hong Kong government office building, the lights focused on the podium.

Financial Secretary Zeng Sir walked onto the stage with steady steps,

the lenses of numerous media were aimed at him.

"Dear media friends..."

Zeng Sir's eyes were firm, scanning the audience:

"Calling this press conference today is to interpret the financial report for the first half of 1998 just released in detail for everyone."

His voice was passionate and powerful,

"Over the past half year, the international financial situation has changed, and the Asian financial crisis has raged. Many surrounding countries and regions have suffered deeply. However, in this complex environment, Hong Kong's economic data is very bright, achieving a good result of 9%+."

"The second quarter even reached 13%+!"

"The core of all this is that Hong Kong has a sound economic system, rich..."

"Most importantly, more than 150 companies actively invested in the north, which became the key force driving economic growth..."

"The mainland has a huge market, rich resources, and human advantages, while Hong Kong has an international financial center status, advanced financial experience, and a broad international vision. The two sides work together to release huge energy!"

Zeng Sir paused slightly, his eyes becoming more determined:

"Today, international hot money is attempting to impact Hong Kong's financial market, wanting to create chaos and profit from it."

"But after seeing this financial report, everyone should be full of confidence in Hong Kong."

"Hong Kong's economic foundation is solid, and there is solid support from the mainland behind it. Our financial market is definitely not something they can manipulate at will."

"International hot money wants to smash the stock market below 4,000 points, this is wishful thinking!"

"This time, the Hong Kong stock market, I believe it will definitely return to 17,000 points!"

"I have confidence in Hong Kong!"

"I have confidence in Hong Kong citizens!"

"I have confidence in the motherland!"

On stage,

Zeng Sir spoke, passionate and resounding.

A burst of "click" sounds of camera shutters sounded from numerous media.

Noon,

ATV and TVB abandoned all news and concentrated on reporting this press conference.

For a time, this press conference became the focus of heated discussion among all Hong Kong citizens.

From Zeng Sir's words, they saw the solid foundation of Hong Kong's economy and also felt the powerful force erupted by the cooperation between Hong Kong and the mainland.

Confidence in Hong Kong's economy was reignited!

"17,000 points!"

"Buy buy buy!"

"Charge!!"

A large number of citizens started to move, preparing funds to re-enter the market.

Afternoon,

1:30 PM.

Affected by the financial report and the press conference, as soon as the stock market opened,

the originally stable trading system was instantly "ignited" by the surging buy orders.

On the giant electronic screen in the center of the hall, as soon as the Hang Seng Index opening number jumped out, it triggered a burst of exclamation — it opened high by 328 points, reporting 10,153 points, directly breaking through the 10,000-point integer mark, with the increase heading straight for 3%.

The traders almost bounced off their chairs.

In a brokerage trading room in Hung Hom,

the trader roared: "500 lots! 1,000 lots! And a 2,000-lot big order placed by an institution!"

The voice was full of uncontrollable excitement.

New World Group's opening price jumped high by 4.2%, and the orders at the buy-one price piled up like a tide. In just two minutes, the turnover exceeded 5 million shares, far exceeding the trading volume of half an hour on a normal day.

Not only blue-chip stocks, but sectors related to northern investment "soared into the sky".

On the "Gainers List" on the right side of the electronic screen, the top 20 stocks were all occupied by green, with the lowest gain exceeding 5.5%, and many stocks rose by 10%+ as soon as they opened.

Stock Exchange, the atmosphere in the trading hall had long been indescribable as "scorching".

Countless citizens waved banknotes:

"Hurry and buy for me!"

"What? It rose 4.8%, of course continue to add positions for me!"

And in major banks across Hong Kong, small and medium investors lined up in long queues. An old woman carrying a vegetable basket clutched her passbook, anxious to have the teller take out the 50,000 Hong Kong dollars of fixed deposit and transfer it into the stock account.

Buy buy buy!

Just 15 minutes after the afternoon opening, the Hang Seng Index turnover exceeded 7 billion Hong Kong dollars (plus the morning), which was already more than the trading volume of most days.

The index curve on the electronic screen rose steeply like a rocket. At 1:45 PM, the Hang Seng Index's single-day cumulative gain exceeded 6%;

at 1:58 PM, the index broke through 10,500 points, rebounding more than 600 points from the morning low.

The short sell-offs that appeared sporadically in the morning were eaten clean as soon as they were thrown out.

Smash the market?

Smash what!

Over at the Soros Fund Company, there was dead silence.

"There are too many buy orders, our sell orders can't be smashed down at all..."

At 3:00 PM sharp, the Hang Seng Index stood firmly above 10,800 points, with a single-day gain expanding to 8.3%, and the turnover approached 12 billion Hong Kong dollars.

Subsequently,

more citizens arrived.

"Bull market, bull market!"

"Charge!"

Then, the Hang Seng Index surged again with volume.

4:00 PM, Hong Kong stocks closed.

The Hang Seng Index had stood on the 10,000 mark!

Single-day gain 10.3%!

(PS: The single-day gain record of the US Nasdaq Composite Index is 14.17% on January 3, 2001)

Landmark Plaza.

Soros Fund Group.

In the office,

Rodney Jones, the team, and others looked at the index displayed on the computer, their heads buzzing~~~

Hands and feet were cold.

"Why is it like this?"

"Impossible, absolutely impossible!"

Ring ring ring~~~

"Mr. Jones... now officially notify you that the stock index you currently hold in short orders has exceeded the maintenance margin... please submit the margin as soon as possible to avoid liquidation..."

Ring ring ring~~~

"Mr. Jones~~~"

Ring ring ring~~~

Phone calls kept coming, all urging to pay the margin.

Rodney Jones was currently caught in a battle between heaven and man.

Pay?

Or not pay? Liquidate directly?

He couldn't make up his mind,

"It's 3:00 in New York... Boss should be asleep..."

Finally, he still decided to call.

Sleep what sleep?

Get up and work for me!

At this moment, Rodney Jones was already a bit irritable.

United States,

At this time, it was 3:00 AM in New York.

Soros Manor.

At this time, although it was dark, it was brightly lit, reflecting a scene of chaos.

Soros was old, so he went to sleep after 22:00.

As a result, at 1:00 AM,

the ringing was continuous,

Soros was woken up, his mental state was particularly bad.

These calls were all calls from international hot money.

"George, didn't you say Hong Kong was going to collapse? Today the Hong Kong stock market soared against the trend, what the hell is going on!"

"The trend of the Hong Kong stock market today completely deviated from your prediction! Our short orders are increasing in loss every minute."

"George, you must give an explanation!"

"Our short orders have floating losses exceeding 11%!"

"Soros, this is simply a disaster! We trusted you, followed your strategy to layout short orders in the Hong Kong market, and the result is this?"

"You have to find a way to reverse the situation, otherwise our entire financial circle will be dragged into the water by you!"

All were questioning and anger.

Soros was forced by phone calls one after another, his eyes red.

When he was the "Alliance Leader", he enjoyed the pursuit and support of numerous hot money.

And now, he naturally has to suffer the backlash.

Ring ring ring~~~~

Just at this moment,

Rodney Jones's call came through.

"Boss, you have also seen the situation in Hong Kong. Now we are facing a dilemma. The stock index of the short orders we hold has far exceeded the maintenance margin, and many brokers are urging to pay the margin. If we pay, given the current situation, I don't know how much capital needs to be filled in; if we liquidate directly, we can hardly bear this huge loss."

"Next, should we liquidate to stop losses, or continue to add positions to gamble?"

Soros: "Tell me about the specific situation, and your analysis..."

Rodney Jones reported quickly.

Soros was silent for a moment, lit a cigar, took a deep breath, and the smoke lingered in the dim light.

His brain was running at high speed, weighing the pros and cons.

On one hand, the bright financial report suddenly released by the Hong Kong government was completely beyond their expectations. Adding margin at this moment is undoubtedly gambling that Hong Kong stocks will plummet;

On the contrary, if liquidated directly, the large amount of capital invested in the early stage will be gone.

Moreover, there are those hot money, IMF, Federal Reserve...

Should we fight it?

Soros was weighing.

What is the evaluation of Soros by the outside world?

Pressure-resistant king.

Because judging from Soros's past investment cases, he shows typical "pressure-resistant speculator" traits.

During the 1987 stock market crash, although the Quantum Fund turned from a 60% profit to a 10% loss in one week, and the net value evaporated by more than 800 million US dollars, he did not choose to leave the market completely, but quickly adjusted his strategy, seized the opportunity to short the US dollar, and finally achieved a 13% profit that year.

This operating style of looking for counterattack opportunities in adversity shows that he has extreme tolerance for market volatility, tending to persist in crises rather than easily admitting defeat.

Soros's autobiography repeatedly emphasizes the "reflexivity theory" philosophy, that is, the cognition of market participants will affect the market itself, forming a self-reinforcing trend.

Therefore,

what is Soros's state of mind at this time?

After experiencing calm thinking,

he still firmly believed that the optimistic sentiment brought by the Hong Kong government's financial report was only a temporary phenomenon, and as long as pressure continued to be applied, market confidence could still be broken.

In addition, there is one more point, the reason why he cannot exit, that is the huge sunk cost.

Laid out for more than a year, do you want to run away by cutting meat?

Meat hurts!

And if the Hong Kong market fails, it will become a major stain on his career, and this reputation loss far exceeds the short-term financial loss.

For a long time, Soros exhaled a puff of smoke and ordered Rodney Jones:

"Don't be in a hurry to liquidate. You closely monitor the subsequent dynamics of the Hong Kong market, contact other allies, and see what they think. Before I make a final decision, try to delay the delivery of the margin."

Hanging up the phone,

Soros got up and walked to the window, looking at the night outside, dark clouds covering the sky:

This step of Hong Kong seems to be much harder to play than imagined.

But just admit defeat so easily, cut meat and leave the market?

No!

This is definitely not my life creed!

Asia is just meat for us to slaughter!

How powerful was Japan back then, even claiming to buy the United States, and didn't it collapse later?

Therefore, Asia's economy is just gold and jade on the outside, but rotten on the inside!

And at this time,

over in Hong Kong.

Central Plaza, top floor.

Guan Zu was watching the 19:00 news on ATV, reports about the exchange market, stock market...

Wen Huixin sat in front of the camera:

"Dear viewers and friends, good evening! Welcome to watch the 19:00 news on ATV."

"Today, Hong Kong's financial market experienced a thrilling day..."

"In terms of the foreign exchange market, international hot money sold off as much as 42 billion Hong Kong dollars today..."

"In terms of the stock market, affected by the latest financial report released by the government, confidence in the Hong Kong stock market was greatly boosted, with a single-day gain of over 10.3%, successfully standing on the 11,000-point mark..."

Guan Zu looked at the news, the corners of his mouth slightly hooked.

Guan Zu turned around and looked at Wu Lianqian beside him: "Notify the media tomorrow, I will hold a press conference at 8:00 AM as the President of the Five Star Group and the Chairman of the Legislative Council, jointly with the Financial Secretary, and at the same time, notify ATV and TVB to broadcast live..."

Soros and his gang are not puppets; they will run if they see danger.

So we must strike while the iron is hot and blow up the stock market at once.

Let them have nowhere to run.

Wu Lianqian was in a small OL suit. After years of cultivation, she already had the aura of a world-class secretary, shrewd and capable.

"Brother Zu, if it is announced now, will it make them run faster?"

Guan Zu nodded: "So, notify the media at 7:00 tomorrow, don't notify now."

Wu Lianqian: "Yes!"

Guan Zu took a look at the "Call Permission" in the system... This was rewarded by the system when the Five Star Bank was established last time and hundreds of billions of shares were distributed to citizens.

However...

The current me doesn't need you at all.

Guan Zu at this moment is full of confidence!

Over in New York,

waiting and waiting...

A new day, when the sun climbed up from New York and shone on New York.

New Yorkers started to revive.

9:00 AM, Soros Fund Group, the company was filled with a solemn atmosphere.

Every employee received news from Hong Kong,

Hong Kong stocks soared 10%!

Simply heaven collapsing!

Soros Fund Group will encounter the "biggest" crisis in its "life"!

As time passed,

more and more world crocodiles arrived one after another, including various hot money, various funds, IMF, Federal Reserve, European consortiums... arriving at the Soros Group building.

In addition, there are Soros's gold masters.

Three months ago, these gold masters were still shouting "Get rich!", wishing they could hand over all their money to Soros, shouting "Mr. George, take me to get rich."

And now, seeing Hong Kong stocks soar, they panicked.

My money!

So, they hurriedly ran to the Soros Fund Group, shouting:

"Damn it, return the money!!"

However, what is more important for Soros now is to hold a meeting with the big crocodiles of various funds to discuss whether to withdraw.

Gold masters?

Sorry, now you need to change a title — leeks!

Just wait obediently in the back!

9:30,

in the Soros Fund building, top floor large conference room.

Everyone was seated.

The long oval conference table was full of "big crocodiles" in the financial circle, with neatly placed coffee cups and documents, but it couldn't cover up the heavy and irritable atmosphere.

"Now the situation in Hong Kong has changed suddenly, everyone think about what we should do?"

"Speak freely..."

Soros spoke first.

The person in charge of a European hedge fund: "I think we must withdraw! Hong Kong stocks suddenly soared by 10%, the Hong Kong government must have trump cards we don't know about. If we continue to consume, our losses will only get bigger and bigger!"

"Withdraw? How to withdraw?" Another voice followed, the speaker was the boss of a US local hot money.

"We have already invested so much capital to short, now withdrawing is admitting losses. Adding up everyone here, it's at least a loss of more than 5 billion Hong Kong dollars!"

Another person tapped the table,

"I think, Hong Kong stocks suddenly soaring is just the Hong Kong government's last struggle. Their financial report might have moisture, it won't last long! Persist a bit longer, wait for market confidence to fall back, we can definitely reverse the situation!"

"Correct, we have hoarded so many Hong Kong dollars, the Hong Kong government's foreign exchange reserves will always run out one day. Now withdrawing is too regrettable, we should continue to add positions!"

Just finished speaking,

the opposing fund started scolding: "Still add positions? Stopping losses in time is the right way. If we drag it on, our funds will all go bankrupt!"

The two sides argued immediately, and the conference room instantly became noisy.

"You didn't calculate the risk at all!"

"Risk? Where is there no risk in doing finance? Withdrawing now is the biggest risk, it's called cutting meat and leaving the market!"

Both sides held their own words, and the voices became louder and louder.

Some people even stood up, pointing at the other's nose to argue, and the scene was once chaotic.

Just at this moment, the IMF Deputy Managing Director tapped the table,

"Quiet~~~" ===== CHAPTER 875 =====