"A few days?" Yang Fugui was furious. "The Soros Group is good at short-term attacks. In just a few days, they would have wiped out the Hong Kong currency market."
Du Xingzhi broke out in a cold sweat. Faced with his superior's questioning, he could only keep repeating, "We...we will definitely find a way to support the market."
Du Xingzhi was feeling uneasy when he said this.
After all, this time the market intervention is completely different from the last one. Last time, they had a large amount of funds to intervene, were financially strong, and were well prepared.
But this time, Soros launched a sudden attack. They didn't have time to build positions or allocate funds, and large sums of money needed to be reported to higher levels, which involved too many procedures.
Adding to this, Soros suddenly turned his attention to gold trading in Southeast Asia, leading Du Xingzhi to believe that Soros had abandoned the Hong Kong market.
Therefore, Du Xingzhi emptied HSBC's account with the Hong Kong Monetary Authority.
The Soros Group, spearheaded by Asian investment banks and Swiss COSCO, reaped huge profits from a large number of gold bulls in Southeast Asia.
Now in Hong Kong, they are using Yellow River Capital as a front to attempt to short the Hong Kong dollar.
Du Xingzhi realized that the Soros Group's private equity funds had a huge influence, and that Soros himself had a strong appeal to international speculators after initiating several financial storms.
This time, the Soros Group suddenly attacked the Hong Kong currency market, and international speculators and third-party institutions reacted very quickly, with many people immediately following suit and shorting the market.
Faced with the dumping of Hong Kong dollars, the Hong Kong Monetary Authority had no other choice but to continuously buy them in the most direct and simplest way, which was also the most costly.
......
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