The currency value is still declining, and the Hang Seng Index has been falling all the way down, breaking through like a roller coaster.
"Let's do it!"
Following Cyber's instructions, the traders acted swiftly, dumping hundreds of thousands of sell orders directly onto the stock market.
They had a total of 5 million Hong Kong stocks in their hands, and they have been selling them off for six days. Now they have less than 1 million stocks left.
They suddenly placed over 100,000 sell orders and are now waiting for the market's reaction.
One minute, two minutes...
Within just over ten minutes, the Hang Seng Index plummeted, quickly falling below 100 points.
Soros watched as the exchange rate of the Hong Kong dollar against the US dollar continued to rise, indicating that the depreciation of the Hong Kong dollar had become a trend.
If the market cannot absorb these tens of thousands of sell orders, the Hong Kong dollar market will quickly enter a state of inflation.
Retail investors and various fund investment companies will simultaneously sell off Hong Kong dollars.
The Soros Group can simply stand by and do nothing.
Half an hour has passed, and the order is still unsold.
Soros looked at Xiang Feng, who was leading the Asia Trip Capital, and said smugly, "Young man, take note!"
"That's how the stock market works; the outcome can change in just a few minutes."
"The Hong Kong Monetary Authority has lost this round."
No sooner had the words left his mouth than a gasp of surprise rang out from a corner of the trading hall:
"Our sell order has been bought!"
"What?"
Soros quickly turned his attention to the computer.
The interface showed that the hundreds of thousands of sell orders they had just placed on the stock market had been sold, and the transactions were successful.
Cyber looked like he'd seen a ghost. "Didn't they say the HKMA was out of money?"
“It’s not the Hong Kong Monetary Authority,” Soros said, finding the buyer’s account, which clearly listed a certain Chinese securities company.
"Is it China's central government that's come to support the market?" Cyber asked.
Soros immediately denied it, saying, "Impossible. If it were a central government agency, they would use the name of the People's Bank of China or Huaxia Bank, not such a small securities company."
Before attacking Hong Kong, the Soros Group conducted a comprehensive survey of the Hong Kong and China markets, and conducted due diligence on almost all the leading securities firms, investment banks and investment companies in the market.
The unfamiliar securities company in front of them was clearly just a very small, emerging company.
First came Soros's hundreds of thousands of sell orders, followed by other sell orders in the Hong Kong dollar market, which were gradually absorbed.
The number of sell orders gradually decreased from hundreds of thousands to 130,000, 120,000, 100,000...
Soon, hundreds of thousands of sell orders disappeared.
This indicates that the bulls are not trying to absorb the bear market, but rather to maintain the value of the Hong Kong dollar within a safe range.
"Who exactly is absorbing our sell orders?" Soros's eyes instantly reddened, and he looked at all the analysts in the trading floor like a vampire. "Investigate this immediately! I need to know where this money came from!"
"yes."
The shift in the balance of power was indeed only 30 minutes apart.
Xiang Feng watched Soros and Seibo's farce with some disdain.
To be honest, Xiang Feng never wanted to get involved in such an unethical thing as shorting the Hong Kong dollar. If it weren't for his teacher Delimu repeatedly telling him to follow Soros's instructions, he wouldn't have wanted to associate with such a person.
"Found it!" An analyst opened a computer screen that read "Longteng," and then said, "This securities firm is a subsidiary of Longteng."
“It’s called Lung Sang Securities Company. It’s an offshore company in Hong Kong. It’s very small. It’s qualified to trade foreign exchange, but it doesn’t usually get involved in Hong Kong’s foreign exchange market.”
“Dragon Group! It’s Dragon Group again.” Lucy’s shrill voice rang out from behind Soros. “The last time I wanted to invest in Tencent, they were the ones who messed things up. This Dragon Group has ruined our plans several times already.”
Soros clenched his fists, veins bulging on his forehead, "Sell! Sell some more!"
“The declared price is 7.85. I just don’t believe that they can handle all the orders I have.”
The trader quickly completed the price order. Just as the stock market had absorbed over 100,000 sell orders, another 200,000 sell orders suddenly appeared.
In the Hong Kong dollar market, short sellers and long sellers are pulling back and forth around the Hang Seng Index level.
Neither side was willing to give in, and this competitive bidding situation actually formed a stable core.
In short, the Hong Kong dollar's value neither fell nor rose further.
Inside the trading hall of a securities firm under Longteng, an analyst nervously said to Chen Dong, "Boss, after absorbing these tens of thousands of sell orders, we only have HKD 5 billion left in our account."
If they continue to buy Hong Kong dollars at a price of 7.07, with a total of HK$5 billion, DragonMoney will definitely be liquidated.
Chen Dong tapped lightly on the computer keyboard and then said, "Let's hold off for a bit."
The analyst hesitated, "But Soros Group has placed another 200,000 sell orders. If these sell orders aren't absorbed quickly, it will definitely trigger a panic sell-off by Hong Kong stock investors." The analyst said worriedly.
The funds prepared by DragonPass are insufficient, but the funds allocated by the central government to the Hong Kong Monetary Authority have not yet arrived.
If no one absorbs the 200,000 sell orders that Soros placed on the market, it will inevitably cause panic in the market.
At this point, Chen Dong made another decision: "Wait 30 minutes first."
“In addition, withdraw another HK$3 billion from the books,” Chen Dong said with a gloomy face. “I must absorb all the sell orders in Soros’s hands.”
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