At this time, the clock has pointed to September 23, 1988. On this day, Taiwan's stock index showed a continuous upward trend, climbing all the way to over 8,800 points.
The continuously rising curve seemed to be full of endless vitality and momentum, making people feel that it was only one step away from breaking through the 10,000-point mark, as if it was within reach.
But then, a piece of news came out of nowhere, like a bolt from the blue, shocking everyone in Taiwan. The news announced that stockholders who sold stocks worth more than 3 million yuan would be required to pay the corresponding taxes according to the law.
This news was like a gust of wind, relentlessly sweeping across Taiwan's financial markets. Prior to this, the Taiwanese stock market had been in a frenzy, with investors basking in the dream of rapidly growing wealth and chasing ever-higher returns. Market enthusiasm burned like a raging fire.
However, this sudden tax regulation was like a bucket of ice-cold water, mercilessly poured on the then hot and almost crazy Taiwan stock market.
The stock market, which had been soaring, suddenly paused. Investors' enthusiasm seemed to be frozen, and panic and anxiety began to spread rapidly in the market.
Those who were originally full of confidence and ready to make a big splash in the stock market were now caught off guard by this news.
They began to re-evaluate their investment strategies, worried that their returns would be significantly reduced due to tax payments. The market trading atmosphere also turned from extremely excited to heavy and depressed, and people's mentality turned from blind optimism to anxiety and confusion.
The news was confirmed the next day. This confirmation was like a hammer, hammering down on the once-hot Taiwanese stock market. Suddenly, it felt like a bucket of cold water had been poured over its head, and the previous frenzy dissipated instantly.
An atmosphere of unease spread rapidly at this moment, like a thick haze. It was the weekend, a time for people to relax and unwind, but investors were all anxious and restless.
"What should I do? Is the money I worked so hard to earn going to be greatly reduced because of paying taxes?" An investor, full of anxiety, frowned and paced back and forth in the room.
Another investor clenched his fists and secretly regretted: "I should have known not to be greedy. Now I have to pay so much tax. It really doesn't make up for it."
Everyone decided to start selling stocks on Monday, thinking to themselves: "We can't wait any longer, we should sell now while we can still recover some losses." This panic was contagious, causing more and more people to join the ranks of selling, fearing that if they were a step slow, they would be trapped and suffer heavy losses.
This regulation clearly stated that it would be officially implemented in 1989. This news was like a death warrant, causing everyone to fall into extreme panic.
Therefore, everyone is eager to take advantage of this period to sell as quickly as possible, hoping to make up for possible losses to the greatest extent possible.
"I have to sell quickly, otherwise the losses will be huge when the regulations are implemented!" An investor was anxious, with beads of sweat on his forehead, his eyes fixed on the stock market trends on the computer screen, and his hands shaking constantly.
Another investor paced back and forth in the room, muttering to himself, "I can't hesitate any longer. Time is running out. I have to save as much as I can." His face was full of anxiety and uneasiness, and every step he took seemed to carry tremendous pressure.
Other investors kept making calls, trying to contact more buyers: "Please, buy my stocks! I really can't wait until the regulations are implemented, or I will lose everything!"
Their hearts are filled with fear and helplessness, and they only hope to minimize the impending losses as much as possible in this limited time.
September 26th, a Monday, marked the beginning of a new week. However, for investors in the Taiwan stock market, it was the beginning of a nightmare.
The moment the market opened, it was as if an invisible giant hand had violently pressed the pause button, and the Taiwanese stock market instantly hit its lower limit. The entire trading hall fell into a deathly silence, with no trading volume at all, and the air seemed to freeze.
"What the hell is going on?" A white-haired old man said with wide eyes, his voice trembling, "My entire fortune is in there!"
"It's over, it's over, it's all over now!" A young man squatted on the ground in despair, holding his head in his hands.
"Who can tell me what we should do?" a middle-aged woman cried.
Everyone looked at each other, their eyes filled with panic and helplessness, and they were at a loss as to what to do.
Meanwhile, Li Muchen sat contentedly in his spacious and luxurious office. He leaned back in his comfortable executive chair, a smug smile on his face. For a short seller like him, hitting the lower limit was undoubtedly a way to make a fortune.
"Humph, I knew this day would come." Li Muchen secretly rejoiced in his heart, "These people who blindly follow the trend only know how to chase the rise, but don't understand the risks of the market."
He gently turned the pen in his hand, his eyes fell on the pale green numbers on the computer screen, and the sense of satisfaction in his heart became stronger and stronger.
"Boss, we really made a lot of money this time!" said the assistant as he walked into the office excitedly.
Li Muchen raised his head slightly, with a smile on his face: "This is just the beginning. Wait and see, there are more treasures waiting for us to harvest."
The assistant nodded repeatedly: "Yes, Boss, you are really wise. You arranged the short selling in advance and allowed us to make a lot of money in this storm."
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