Within a single day, HSBC Holdings' stock trading volume became the core of the entire Hong Kong stock market. At this point, the short sellers realized something was wrong, and Soros urgently ordered traders and operators to stop their operations.
Upon receiving the news, Robertson rushed to Soros's office as quickly as possible.
"Could it be that mysterious private capital we suspected before has finally made its move?" Robertson had just run over from another office building, panting heavily, and was nowhere to be seen as a big shot.
Soros remained relatively calm. "There's even worse news. The private capital that's going against us this time is using the same securities firm that the financial tycoon you encountered in the Korean won market last time."
"No way?" Robertson got goosebumps when he heard such outrageous news.
Soros stated with almost certainty, "Logically speaking, small securities firms like these wouldn't openly oppose international speculators unless they were backed by large amounts of capital."
"Tomorrow, we'll continue to expand the scale of our sell-off." Robertson, who had been conserving his strength, had no choice but to go all out after hearing this news.
However, Soros, who usually liked to persuade Robertson to throw out his chips, hesitated at this moment.
“The other side has used up so many Hong Kong dollar sell orders right from the start, it’s obvious they’re targeting us.” Soros gritted his teeth and guessed, “We don’t know how much capital they have or how much they’re prepared to use to attack us.”
Robertson, who always acted simply, said directly after listening to Soros: "No matter what strategy they have, as long as we can keep the Hang Seng Index below 6300 points, even if they have a huge amount of money, they can't do anything to the entire Hong Kong stock market."
The strategy he described was to pool all the chips held by international speculators and launch a continuous offensive to suppress the Hong Kong stock market, preventing it from having a chance to rebound.
However, this gave Soros some concerns. The funds that initiated the short selling of the Hong Kong stock index were not only the Quantum Fund and Tiger Fund, but also other international speculative capital following the Quantum Fund, who were also looking forward to Soros's performance.
After all, they followed Soros simply to get a piece of the action.
In this process, international speculative capital is willing to give up some of its own interests, using it as bait, but if Soros asks them to increase their investment, they must also consider whether they can bear such risks.
“This is too risky,” Soros said seriously, looking at Robertson. “Don’t forget how you lost to this mysterious speculator last time you were in the Korean won market.”
"His ability to skillfully manage such a large amount of funds shows that he is no ordinary person."
Attacking rashly at this moment would likely expose his trump card to his opponent. After thinking for a moment, Soros made a decision: "First, place a small sell order to test the bulls' reaction."
Robertson nodded, indicating his agreement to the strategy.
When the bulls are strong defensively, the bears usually choose to temporarily avoid confrontation, a strategy that aligns with the typical behavior of international speculators.
The next day, as Soros had arranged, they first placed a large number of small sell orders on HSBC Holdings, and then within an hour, all of these small buy orders were absorbed.
The Hang Seng Index has seen a slow recovery due to strengthened bullish defenses.
Soros noticed that after the Hong Kong stock market opened, the Hong Kong dollar's value rose sharply.
The real estate sector reacted the fastest, as did the previously suppressed agriculture, forestry, animal husbandry, and public utilities sectors. When the Hang Seng Index was pushed up to 6690 points, the stock price of Hong Kong's MTR Corporation rose by 2.3%.
Meanwhile, other financial sectors in Hong Kong are also gradually recovering.
"Keep dumping," Soros told his trader.
After the order was issued, HSBC, Citibank, and other commercial banks and securities firms in Hong Kong suddenly saw a large number of Hong Kong dollar sell orders.
In the banking and real estate sectors alone, the long and short sides frequently changed hands, with tens of thousands of lots traded in a single day.
The Hang Seng Index saw a rare strong rebound, and Soros and Robertson felt quite uneasy watching the ever-rising curve.
"Boss! The Hang Seng Index has been pushed up to 7000 points!" the trader shouted.
Soros, his face grim, said, "Continue to dump shares, and let all the foreign exchange we've accumulated on the New York Stock Exchange and the London Stock Exchange flow into the Hong Kong stock market."
Soros's international hedge funds have shifted from being attackers to defenders.
As the situation for the bulls gradually becomes clearer, Chen Dong's offensive is also gradually intensifying.
At this time, the bulls and bears were fiercely fighting, with HSBC Holdings becoming the core battlefield, and surrounding sectors such as real estate being dragged into the war.
The good news is that although the short sellers spared no effort in dumping shares, the sheer volume of funds injected by Longteng was simply too much for them to handle.
Even George Soros, the international hedge fund manager, did not expect that Chen Dong would directly provide HK$5 billion as the first phase of market support funds.
By the close of trading in the afternoon, the Hang Seng Index was still firmly standing at 7049 points.
“7049 points.” Soros gritted his teeth and read out the number that he found disgusting.
He could tell that the bulls had great ambitions at this time, and that their target was definitely not just the Hang Seng Index.
The continuous rise in the index over the past three days has left international speculators bewildered.
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