Ever since Soros speculated that the Hong Kong government had abandoned the free market and opted for official intervention, they have become fixated on the fact that the rise in the Hang Seng Index is entirely due to the Hong Kong government's efforts to prop up the market.
What surprised Soros was that when they attacked the Hong Kong dollar last time, the Hong Kong Monetary Authority (HKMA) had no plan for the use of funds, but this time it poured money into the market indiscriminately, which was completely out of character for the HKMA.
Furthermore, regardless of how much they have in HSBC, these reserves are still the foundation of the Hong Kong stock market. It's one thing for the Hong Kong Monetary Authority to act rashly, but does the Financial Secretary expect them to squander so recklessly?
“Continue to use the weapon of public opinion,” Soros ordered Cyber. “I simply don’t believe that the Hong Kong Monetary Authority, as the helmsman of Hong Kong’s economy, can intervene in the financial market so openly.”
“Any official body will be afraid of public opinion. This time, we will send more experts and scholars who have a great deal of influence in the financial field to criticize the Hong Kong government.”
Using the power of the media to manipulate people's hearts is an old trick for Soros.
This approach works particularly well in Hong Kong because Hong Kong is a prosperous free port, and the Hong Kong government adheres to the principles of a free economy. Under no circumstances should the government manipulate the stock market.
Soon after, a financial commentary article from the United States, titled "Hong Kong Free Port: Dead in Name Only," suddenly appeared.
The commentary was co-authored by several economic advisors to the Quantum Fund and represents the fund's official stance.
The article immediately caused a huge stir in the world's financial sector upon its publication.
After that, Soros gave a media interview, criticizing the Hong Kong government for manipulating the stock market and interfering in the financial market, and told reporters clearly: "If the Hong Kong Monetary Authority wants to resolve market conflicts by brute force, then they will inevitably fail."
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