The sixth day since Soros shorted the Hong Kong dollar.
Chen Dong joined the fray, and the Hong Kong Monetary Authority faced a cash shortage, prompting its head to run to the CEO in tears.
“We only have $10 million left, but there are still hundreds of thousands of sell orders in the Hong Kong dollar market.”
"The owners of these sell orders are mostly international speculators, investment institutions, investment banks, and Soros's foundation."
"In just one morning, the value of the Hong Kong dollar has exceeded 7.67."
The analyst gritted his teeth and looked at Du Xingzhi, saying, "If the funds don't arrive soon, hundreds of thousands of sell orders will be placed in the market, which will accelerate the spread of market panic."
When Du Xingzhi heard this news, he was utterly overwhelmed.
The analyst worriedly said, "Retail investors in Hong Kong, along with all the third-party institutions, will keep changing the price of their sell orders in order to sell their Hong Kong dollars until someone takes over."
"During this process, the value of the Hong Kong dollar will depreciate rapidly."
Du Xingzhi glanced at his watch; there was still at least one day before the central bank would transfer the $10 million to his account.
"Use the $10 million as collateral to apply for loans from commercial banks and HSBC simultaneously," Du Xingzhi instructed.
"yes."
"Once we get the loan, we'll immediately buy Hong Kong dollar stocks, as many as we can!" Du Xingzhi said through gritted teeth. "We need to reduce the number of sell orders on the trading market to below 80,000."
Under the relentless pressure from the Soros Group, the Hang Seng Index in Hong Kong's stock market fell once again, reaching a low of [point missing].
At this point, most of the bullish positions in the Hong Kong dollar had been wiped out, and the financial giants of Hong Kong were unwilling to withdraw, constantly leading the bulls in a counterattack.
The result was a head-on battle between bulls and bears, with the Hang Seng Index experiencing a brief respite before quickly falling again.
The decline in the index signifies the failure of the bulls' last strong counterattack.
At this juncture, the mainland's market stabilization funds have not yet arrived, and the loans applied for by the Hong Kong Monetary Authority from banks also need time.
Soros, seizing the opportune moment, whispered to Cyber, "The MFA has stopped operations; they're out of money now."
Cyber glanced at Soros and said, "We still have hundreds of thousands of sell orders in our hands, plus the sell orders held by international speculators, third-party institutions, and brokerages, which amount to at least tens of billions of dollars."
“I just don’t believe that the Hong Kong Monetary Authority can handle such a huge deal.”
After saying that, Cyber turned to the trader next to him and said, "Watch the index closely. When the Hang Seng Index breaks through this level, quickly sell Hong Kong dollars."
"yes."
The traders at Yellow River Capital quickly adjusted their strategies by forming small groups.
At this point, the entire Hong Kong Monetary Authority (HKMA) fell silent and stopped buying Hong Kong dollars.
The number of sell orders in the stock market is constantly increasing; some people are selling, but no one is buying.
Everyone was afraid that their Hong Kong dollars would become worthless, so they all revised their declared prices, causing the value of the Hong Kong dollar to continue to fall.
7.60, 7.74, 7.78, 7.8...
......
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