Hong Kong stocks have just opened, and the Hang Seng Index is already facing a decline.
Chen Dong looked at the numbers flashing on the screen, feeling extremely nervous.
“We don’t have much money left in our accounts,” Wangcai said regretfully. “Now it depends on whether the Hong Kong Monetary Authority’s main force in supporting the market can leverage its advantages.”
"Also," Wangcai looked at Chen Dong and asked eagerly, "Boss, are the four major families allowed to participate?"
Chen Dong shook his head. "I mocked the Guo family a few days ago, and Guo Bingxiang seems to be angry."
He wasn't counting on the other three major families, but according to Chen Dong's judgment, Li Ka-shing should attend.
After all, Chen Dong had some connections with him, and Li Ka-shing was also considered a socially responsible entrepreneur, so Chen Dong trusted him in this regard.
Analysts kept reporting that "the Hang Seng Index has fallen to a low of 7.85, and the Hong Kong dollar has dropped below that level."
This morning alone, the Hong Kong dollar market shrank by 7.6% overnight.
"Buy! Buy!" Du Xingzhi kept repeating the same command.
Inside the trading floor, the analyst watched the ever-increasing sell orders in the market and was on the verge of a breakdown.
"Yellow River Capital has placed another 300,000 sell orders!" the analyst reported anxiously. "Our 1 billion yuan in market stabilization funds have been used up."
Du Xingzhi asked incredulously, "Didn't the mainland say I had 9 billion US dollars that would be deposited into my account in installments?"
The analyst asked somewhat hesitantly, "Are we really going to move $9 billion?"
"Soros's massive sell-off is simply to reduce the cost of harvesting Hong Kong dollars."
"The Soros Group not only has international hedge funds, but also a large group of international speculators following him. If it were to go head-to-head, it would be like fighting against speculative capital from all over the world."
Currently, the Hong Kong stock market is only supported by the Hong Kong Monetary Authority. Although there are buyers in the Hong Kong dollar market, they are merely selling stocks to increase the weight of the stocks, and some of them are even short selling.
If $9 billion were to actually be put into the market, it would be practically a waste of money.
Du Xingzhi's face darkened. "Are we just going to stand by and watch the Soros Group suppress the Hong Kong dollar, turning Hong Kong into a financial hell like Southeast Asia?"
"No need for further words, keep buying!"
"Even if it costs me 50 billion, let alone 1 million US dollars, I will still defend Hong Kong!"
“This is our duty,” Du Xingzhi sighed.
Compared to Du Xingzhi's exasperation, his opponent Soros was quite pleased with himself.
"As expected, the stock market faced a decline shortly after the market opened, with the Hang Seng Index falling 400 points within three hours."
Cyber put down the data form in his hand with satisfaction. "Once bitten by a snake, twice shy. Black Monday has left a lifelong psychological shadow on stock market investors around the world."
"This special anniversary is indeed very useful."
As the narrative surrounding Black Monday continues to resonate among stock market investors, many have lost their positive expectations for the market. Some retail investors and investment institutions that had previously supported the bullish trend have begun to sell off their shares.
In the Hong Kong stock market, a large number of sell orders quickly appeared.
With the mainland providing a safety net, the Hong Kong Monetary Authority (HKMA) has gained confidence as a whole.
Du Xingzhi led his main force in supporting the market, and the Hang Seng Index fluctuated around the level of the Soros Group.
The two sides fought back and forth, making for a very lively battle.
However, due to the withdrawal of Hong Kong retail investors and international speculative capital, there is a negative expectation for the Hong Kong dollar market. Therefore, just like "Black Monday" ten years ago, the decline in the Hong Kong stock index seems unstoppable.
The collapse of Hong Kong stocks quickly hit Taiwan's currency market, which is closest to Hong Kong.
Faced with this situation, Wangcai urgently convened a departmental meeting.
Chen Dachui suggested, "I think, since things are already like this, no matter what we do or what price we pay, there are only negative news in the market, which is something we can't control."
Wangcai understood his thoughts and said disapprovingly, "So, you want to go with the bulls?"
Chen Dachui looked at Wangcai and sighed, "I... wanted to go long, but the boss disagreed."
"I really don't understand. If we had joined Soros, Longteng would not be facing the situation we are in today."
Everyone in the meeting room looked dejected. Wangcai knew that if the boss insisted on going long, the company would likely be burdened with huge debts, so many people were dissatisfied with the decision.
“People not only need to make money, but also need to have a stance. The boss is Chinese, which is why he can’t stand Soros and the international speculative capital behind him bullying Hong Kong.” Wangcai spoke up for Chen Dong.
Chen Dachui said with a smile, "If stances were useful, the Hong Kong stock market wouldn't be in its current state."
Wangcai ignored him, and he patted the analyst on the shoulder:
"Continue to buy heavyweight stocks."
"clear."
At that moment, something incredible happened.
The Hang Seng Index plummeted, but began to slowly recover three hours later.
"Boss, a sum of money has entered the bull market," the analyst told Chen Dong.
Chen Dong quickly asked, "How big of a deal did they place?"
"The brokerage firm hasn't announced who it is yet, but it has listed four separate columns, with all the long positions totaling over a thousand lots."
Chen Dong looked at Lin Zhiyuan with surprise, "The four major families have entered!"
These words stunned all the analysts and traders.
The simultaneous intervention of the four major families to support the market is unprecedented.
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