"HSBC has always been very experienced in trading precious metals such as gold and silver. You can decide how much to release to the market after conducting your own research."
"But you must remember one thing: don't get carried away," Yang Fugui instructed the person in charge.
Gold is also a form of currency, and its liquidity and price directly affect the rise and fall of the Hong Kong stock market.
Therefore, one must be very careful when deciding whether to keep or release gold, that is, the amount of gold in stock or the amount released.
After arranging HSBC's handling of the gold, Du Xingzhi began to focus on the Hong Kong dollar issue.
Previously, Soros had purchased a large amount of Hong Kong dollars in the Hong Kong stock market. In order to prevent too many Hong Kong dollars from being controlled by overseas investment groups and overseas speculators, the Hong Kong Monetary Authority placed a large number of sell orders for Hong Kong dollars.
Now that the Soros Group has withdrawn from Hong Kong, it's time to loosen up their monetary holdings.
The appreciation of the Hong Kong dollar has indeed been beneficial to some extent in dealing with the Southeast Asian financial crisis. However, this appreciation, which is driven by speculation by international speculators and intervention by the Hong Kong Monetary Authority, is unhealthy.
A currency's value deviating from market principles and blindly inflating its value will inevitably lead to serious consequences, one of which is restricting Hong Kong's foreign trade.
With Soros currently speculating on gold in Southeast Asian markets, he certainly won't be returning to Hong Kong anytime soon. Du Xingzhi has decided to take advantage of this lull to increase his holdings of Hong Kong dollars and sell off his existing holdings.
Subsequently, HSBC Commercial Bank in Hong Kong introduced updated monetary policies, raising interbank lending rates and continuing to allow the release of gold.
In a short period of time, the Hong Kong dollar gradually declined by 1.09%.
Hong Kong stock market investors saw that the time to sell had come and rushed to close their positions.
The depreciation of the Hong Kong dollar means that short sellers finally have a market to sell.
Uncle Lung watched as the value of the Hong Kong dollar gradually decreased, breaking through the 7.2 mark and gradually falling to 7.30 and 7.37.
Chen Dong continued to remind him, "Don't act rashly; the Hong Kong dollar still has room to fall."
Although Uncle Long's investment was not large, if he could close his position at the lowest point, he could at least get a return of two or three times.
For the sake of two or three times the return, Uncle Long must not act rashly, even if it means death.
He told Chen Dong directly, "Xiao Lu, this account is now in your hands. You keep an eye on it for me, and when it's time to sell, you can help me with the operation."
Uncle Long gave him such great authority, which shows that he now trusts Chen Dong a lot.
Chen Dong, somewhat flattered, said, "Uncle Long, aren't you afraid that if I help you with this, you'll go bankrupt?"
The cost of short selling is higher than the cost of going long. If you buy short, you have to sell short, so ordinary people generally don't short sell easily.
Uncle Long bought short this time entirely because he trusted Chen Dong's judgment.
The other investor, however, was not so lucky.
Guo Bingxiang bought more shares at the peak, recommended by his account manager.
Subsequently, Soros sold off Hong Kong dollars and withdrew from Hong Kong, and retail investors in Hong Kong followed suit and closed their positions.
Now that the Hong Kong dollar has fallen, his 30,000 lots of Hong Kong stocks have almost all lost money.
If he hadn't reacted quickly and escaped before the Hong Kong Monetary Authority released the funds, he would be trapped now.
In response, Zhou Quan defended himself, saying, "I never expected that Soros would give up the Hong Kong market so easily."
“Generally speaking, those who are bullish should know that the return of Hong Kong to China means that the mainland will back up our stock market fluctuations. During this period, investors’ sentiment towards the financial market is high, which will inevitably push the Hong Kong dollar to a new peak.”
Guo Bingxiang, seeing Zhou Quan's sophistry, became enraged.
"I asked you to make an assessment of the Hong Kong stock market as a whole, not to assess Soros as a person."
"How did your asset management company recruit you?"
“Mr. Guo, I…” Zhou Quan frowned and said sadly, “This time, it was indeed my misjudgment.”
With 30,000 lots of Hong Kong dollars, after deducting transaction fees, the price difference exceeded 1.04, meaning that Guo Bingxiang lost more than 400,000 Hong Kong dollars in this investment.
He was fortunate to have evacuated in time this time, and his losses were not significant.
But those Hong Kong stock investors like him, I wonder how much they're going to lose.
Guo Bingxiang looked at Zhou Quan with disdain and said coldly, "You should resign."
This sentence almost sealed Zhou Quan's fate. Guo Bingxiang was their brokerage firm's biggest client, and his words represented the opinion of the company's leadership.
Seeing the major client's angry expression, Zhou Quan didn't bother to argue further and sadly left the office.
The situation in Hong Kong and Southeast Asia is constantly changing, with offense and defense shifting frequently.
Within China, the driving force of the Southeast Asian and Hong Kong markets is gradually being felt.
Looking at the soaring financial data in Southeast Asia, Wangcai was very worried, thinking that this was going to be a huge bubble.
“Once the Federal Reserve and the Soros Group withdraw from Southeast Asia, the huge bubble in Southeast Asia will burst, and then there will be a second financial crisis.”
Wangcai was a professional in this regard, and Annie and Lin Zhiyuan watched him intently.
Wangcai continued, "This time, Soros not only sold gold in Southeast Asia, but also sold a large amount of gold in China."
"Although China is not experiencing a financial crisis, many people have joined the gold speculation craze. I think it won't be long before Soros wipes out the gold market bulls."
When Chen Dong was still alive, he had told him about Soros, so Wangcai had always been wary of Soros.
During the previous Southeast Asian financial crisis, China was only affected, but many foreign trade companies went bankrupt.
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