Cyber said helplessly, "There are many large investment banks in Hong Kong and overseas that have close cooperation with mainland China. If they violate the ban, the mainland will probably hold them accountable."
"Moreover, if mainland institutions use US dollars to settle short positions in Hong Kong dollars, the US dollar market will inevitably be affected. Major investment banks dare not offend the United States, so they can only give up."
After hearing this analysis, the senior executives, analysts, and foundation representatives of the Soros Group all looked serious.
Soros gritted his teeth and cursed, "China says it will uphold Hong Kong's market freedom, but in the end, it's just as protective of its own!"
"The so-called new regulations are nothing more than an attempt to prevent Chinese companies from following us in shorting the Hong Kong dollar."
Cyber couldn't stand it and reminded him, "When gold was hot before, the Federal Reserve also introduced similar new rules to restrict people from using US dollars to settle domestic gold purchases."
"Hong Kong has just returned to China, so it's only right that the central government is protecting its own."
He sighed and added, "I just didn't expect the mainland to react so quickly to this currency storm."
Xiang Feng remained silent; he didn't want to gain much advantage from the cooperation with Soros.
He had only one wish: that the Asian travel capital could make a clean exit this time.
After all, if Soros goes crazy, international speculative capital and hedge funds will all become bait in his hands.
Asian investment banks have just joined his camp, and it's unclear what kind of pioneering role Soros will use them for.
Before the Hong Kong stock market closed, the Hang Seng Index rose to a certain level, boosting the confidence of the four major families.
Their collaboration this time significantly hampered all of the short sellers' offensive actions.
The efforts to stabilize the Hong Kong stock market have yielded significant results.
When TV analysts learned of the four major families' efforts to support the market, they spared no effort in promoting it.
"Everyone must have confidence in Hong Kong stocks!"
"With four major families in Hong Kong, the Hong Kong Monetary Authority supporting the market, and the mainland providing a safety net, the Hong Kong stock market still has the advantage of positive news!"
After the market closed in the afternoon, Soros rallied the last remaining strength of international hedge funds.
He urgently contacted international financial giants and lobbied them to short the Hong Kong stock market.
Several other foundations that work closely with Soros are preparing to launch a strong attack on the Hong Kong stock market on the next trading day.
Short selling has become significantly more expensive and risky due to the increased barriers imposed by government and banking policies.
For a time, retail investors began to support the bulls.
With a series of positive news coming to the Hong Kong stock market, international speculative funds have begun to consider withdrawing from the market.
This means that Hong Kong's efforts to support the market have been successful to some extent.
While the four major families were still gloating, Chen Dong judged that "the main force behind the dumping is still to come."
Lin Zhiyuan asked worriedly, "The Soros Group has already invested so much money, do they still have shares left?"
Chen Dong smiled and looked at Lin Zhiyuan, saying, "Don't forget, when the Thai baht was attacked, Bot also held a lot of leverage."
"But after several rounds of attacks, the bot ran out of money, while international investment capital had a strong reserve."
When buying stocks through a brokerage firm, the brokerage firm generally does not disclose who the buyer is.
This makes it difficult for people to determine exactly how much leverage Soros has.
Annie had breathed a sigh of relief when she saw the Hang Seng Index rise, but after hearing Chen Dong's words, she immediately felt a surge of relief again.
Soros's vanguard includes Asia Venture Capital, Yellow River Capital, Tiger Fund, Quantum Fund, and numerous other investment institutions and foundations of all sizes.
As for other international speculative capital, they cannot accurately determine which is controlled by Soros or which has a cooperative relationship with him.
With the support of four major families, they were initially full of confidence.
However, Soros's backup forces were too strong, and they dared not underestimate him.
Seeing the solemn expressions on the faces of all the senior executives in the office, Chen Dong offered a word of comfort:
"Fortunately, although we don't know how many chips Soros has, Soros also doesn't know how many chips we have."
"On the surface, the main forces supporting the Hong Kong stock market are the Hong Kong Monetary Authority, the four major families, and Chinese enterprises represented by our company, Longteng."
Chen Dong looked at the senior management and explained, "Those big investment banks, as well as securities companies, commercial banks, HSBC, they have close cooperation with governments and conglomerates from various countries, and they are trying to avoid offending either side."
"So even if some of them choose to short, they won't chase too closely."
Wangcai, however, was not so optimistic. "The Hong Kong dollar has now depreciated to 7.89, and the Hang Seng Index is at 10.5%. Based on the data alone, the bears still have the upper hand."
Lin Zhiyuan nodded in agreement, "Indeed, there have been many positive news from the bulls these past few days, but Soros's international hedge fund has not been idle."
October 23rd.
Soros's international hedge fund, spearheaded by Yellow River Capital and assisted by other financial institutions, sold off large amounts of Hong Kong dollar-weighted stocks.
The Hang Seng Index in Hong Kong plummeted from its current level, dropping by 17% in just one trading day.
That's not all; before the market closed, Asian capital sold off almost all of its shares.
As if they had all planned it together, at 3:40, less than 20 minutes before the market closed, international speculative funds dumped money and dumped shares.
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