In the office on the top floor of the Jardine Matheson Building, the air was as stagnant as lead. Newbigin sank deep into the spacious leather chair, the gray morning light of Victoria Harbour outside the window filtering through the gaps in the heavy curtains, slicing through his bloodshot eyes.
He'd barely slept last night. Shen Bi's words on the phone, "Let's talk tomorrow," were like a cold yoke around his neck, strangling him. Every time he closed his eyes, he saw the illusion of the plummeting share price of Hong Kong Land.
"President," his confidant, James, pushed open the door and entered, his steps carrying a subtle heaviness. He gently placed a document on the mahogany desk, his fingers slightly stiff with anxiety. "The accounts have been confirmed. All the cash we can mobilize, after the total is collected... is only 330 million Hong Kong dollars. That's all." His voice was low, every word striking at Newbigin's tense nerves.
Three hundred and thirty million Hong Kong dollars.
Newbigin's eyes fell on the figure, his stomach churning. It was too little. A drop in the bucket. This little money, let alone turning things around, would vanish without a sound if thrown into this bottomless market vortex.
The hints from Shen Bi's phone call yesterday, and his earlier confrontation with the slippery Kobayashi Tianwang, had made him realize the futility of trying to support the market. No amount of money could fill the abyss of panic.
"President," James' voice rang out again, hinting strongly at a request, and hinting at a hidden fear. "We...are we going to use this money to stabilize the stock? At least...keep the stock price above 60 yuan? HSBC's forced liquidation line..."
He paused, then added with difficulty, "However, back in Australia, Hearst Mining's creditors have already declared that if they don't see a solution of at least HK$100 million within three days, they will apply to the International Court of Arbitration to freeze all our property rights in Western Australia and initiate bankruptcy liquidation procedures. We need to prepare this money. If we invest it all in the stock market, Australia will..."
He didn't say anything else, but his point was crystal clear—the Australian lawsuit couldn't be lost. It was at stake for the very foundation of Jardine Matheson's global mining presence. A failure would cost far more than just money; it was the strategic fulcrum of Jardine Matheson's future. Furthermore, even if the entire 330 million was invested to shore up the market, would it be enough to prop up the share price? Rumors of our capital being exhausted and HSBC's impending forced liquidation were rife in the market, and even the announcement of a 10% year-end dividend from Hong Kong Land had barely registered a ripple in the market. The overwhelming panic had overwhelmed any positive news.
Newbigin's heart beat heavily in his chest. Every dilemma James had raised was true. He knew that if the trouble at the Australian mines erupted, the consequences would be more far-reaching and fatal than a stock market crash.
He knew even more clearly that in this frightened market atmosphere, the little money invested by Jardine Matheson would not have any positive effect except being instantly swallowed up by the surging selling pressure, but would instead accelerate the loss of his last reserves.
Shen Bi's strategy was to seek a trade-out, rather than a pointless loss of life. Kobayashi Tenmo's refusal confirmed the market's most extreme interpretation of Hong Kong Land's future risks: that the British-owned company was eager to sell and flee.
But in front of James, he could not show any hesitation or helplessness. He was the captain of Jardine Matheson, the helmsman of this huge ship. Even if the rudder was broken and the ship was sliding towards the iceberg, he had to keep his composure, even if it was just for show.
He took a deep breath, forcibly suppressing the anxiety in his throat, and sat up straight, trying to regain some of his former dignity. He deliberately let his eyes sweep across the obvious worry on James' face, and slowly spoke, trying to keep his voice steady, even with a hint of deliberate certainty: "James, you're too nervous."
He reached out his hand and tapped lightly on the table. "Boss Shen Bi, I've already communicated this to you last night. HSBC is the central bank of Hong Kong Island, and Shen Bi's words are like imperial decrees in this financial world. He said he would help us resolve Hong Kong's problems, and he will definitely do it. Currently, everything in the market is within his expectations and control."
He paused slightly, his eyes casting towards the silent phone on the corner of the table. "All we have to do now is wait patiently for his news. Hold our ground. Before Shen Bi takes action, any action we take could cause more trouble, or even disrupt his plans. HSBC has plenty of ways to stabilize the situation, and they don't need us to resort to reckless actions with this little money."
James's cloudy eyes suddenly lit up. The name of Mr. Shen Bi was like a beacon in the darkness. In Hong Kong's financial world, Shen Bi's status was almost godlike. His words were a reassurance.
Although James still had a little worry in his heart about the lack of funds to solve the problem of the Australian mine, compared with the hellish disaster that the shares of Hutchison Whampoa might change hands in an instant, HSBC's promise undoubtedly gave him the respite he needed most at the moment.
"Yes... President, I understand." James's tense shoulders relaxed slightly. "With Mr. Shen Bi's guarantee, everything will be able to turn around."
At this moment, the sound of frequent phone rings and tense conversations could be heard faintly from the direction of the trading room outside the door.
The market has opened.
Newbijian's heart sank. His gaze fixed on the massive clock on the wall. The wait for news from Shen Bi had begun, and every second carried an invisible weight, weighing down his breath. He maintained a calm exterior, but his fingers unconsciously curled, his nails digging deep into his palms.
Outside the huge floor-to-ceiling windows, the sky above Victoria Harbour remained gloomy. Inside the trading hall, countless pairs of eyes were fixed on the quote screen for Hong Kong Land Holdings.
opening!
Almost at the moment the bell rang, the share price of Swire Properties was pushed off the cliff as if by an invisible giant hand!
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