"In other words, whether the Hong Kong government has truly intervened in the free market is still questionable from a rigorous economic calculation perspective. However, after the public outcry, even those who do not believe in the claim of intervention in the market economy will be deeply suspicious."
"In the end, regardless of whether the Hong Kong government intervenes in the free market, the fact that there has been such a conflict of public opinion will make people more convinced that the government is actively trying to save the market."
Hearing this, Annie nodded excitedly, "That's right! This media frenzy has just confirmed the rumors that the Hong Kong government is actively trying to rescue the market."
"Furthermore, no matter what outrageous news has been reported by the media at home and abroad during this period, the Hong Kong Monetary Authority and Financial Secretary have remained silent. I think they probably want to use this opportunity to boost investor confidence."
After some analysis, Chen Dong had prepared a complete strategy for dealing with international public opinion.
On the 11th, the Hong Kong government remained silent in the face of the overwhelming wave of bans, while the Hang Seng Index was reborn amid the silence of the Hong Kong Monetary Authority.
The Hang Seng Index rose 2.7% overall, reaching 8155 points.
International speculators were stunned by this frenzied counterattack.
According to their original plan, the Hang Seng Index was expected to decline after the credit analysts and presidents of the Federal Reserve and Standard & Poor's made their speeches.
After all, the title of "free market" is crucial to Hong Kong's foundation, and any attempt to buy at the bottom in this regard will inevitably shake Hong Kong's roots.
To their disappointment, for some reason, the public outcry did not significantly damage Hong Kong's financial markets; instead, it helped the Hang Seng Index take a big step forward.
Since Chen Dong and his group bought up HSBC shares, they have also acquired corresponding futures and heavyweight stocks in Hong Kong. To date, the amount of funds they have used has exceeded HK$15 billion.
Hong Kong's Hang Seng Index also rose from 6460 points to 8155 points, an overall increase of 1715 points.
The improved market conditions have put those who publicly attacked the Hong Kong government in a dilemma.
Commentators, experts, scholars, and analysts with significant influence in the global financial sector, both domestically and internationally, while publicly expressing their opposition to market intervention in the media, have been quietly buying shares in several major Hong Kong listed companies, joining the bullish trend.
This was originally a rare piece of good news for Hong Kong's financial market. However, the direction of the stock market is unpredictable. Chen Dong and Lin Zhiyuan were initially celebrating the strong counterattack of the bulls, but after several days of a surge in the Hang Seng Index, they found themselves increasingly less happy.
The increase in bullish investors has actually created problems for Chen Dong.
The ultimate goal of Dragon Tech's participation in the market rescue is to buy at least 3% to 4% of the total Hong Kong stock market.
Previously, Chen Dong had made the bold statement of "buying up Hong Kong" in front of all the senior executives of the offshore company. He was not boasting, but had reached a deal with the Hong Kong Monetary Authority and the Financial Secretary.
Their initial agreement was that Chen Dong would make long-term investments in Hong Kong, standing in opposition to Soros International Hedge Fund and taking a bullish stance on the Hong Kong stock index.
Chen Dong's condition was that, during this process, the Hong Kong authorities must cooperate with him and release relevant positive or negative news about the stock market in the official media.
However, they haven't accumulated enough shares at the current low price.
The Hang Seng Index's sharp rise means that Chen Dong can only compete with the frenzied bulls for market share in short selling.
In other words, Chen Dong's initial goal of buying at the bottom of the Hong Kong stock market was intercepted by investors who suddenly appeared.
If they want to buy stocks now, they have to raise their bid prices and compete with other bullish investors, and offshore companies have become stepping stones for the bulls.
What made Chen Dong, Lin Zhiyuan, and Wang Cai and Ma Guoliang, the core operators of the offshore company, feel psychologically unbalanced was that they, as the first batch of bulls to participate in the market rescue, had invested HK$15 billion in real money in the process of strongly confronting the Soros Group.
Those who joined midway did nothing but reap the benefits of Chen Dong and his group's efforts to raise the Hang Seng Index simply by building positions in the stock market.
At this point, the international speculators who were shorting the Hong Kong dollar were unwilling to give up and launched another attack on the Hong Kong dollar on the afternoon of the 13th. However, the bulls had already gained a certain advantage in the market, and the slight decline was quickly overshadowed by the strong rise.
After that, the bulls and bears were locked in a stalemate.
Chen Dong judged, "This is a tug-of-war between the bulls and the bears, and there shouldn't be any major changes in the short term."
"Should we keep throwing money at this?" Lin Zhiyuan felt a pang of heartache thinking about the large sums of money they had previously invested.
Chen Dong smiled and said, "No need. The most important thing at this stage is to seize every opportunity to accumulate shares whenever the Hang Seng Index drops."
"We've invested so much money; we can't become stepping stones for international speculators and bulls."
Lin Zhiyuan nodded. "Understood."
As we were talking, the office phone suddenly rang.
Chen Dong gestured with his eyes for Lin Zhiyuan to go out first, and then answered the phone.
"Mr. Chen, we have discovered several diamonds of good quality at the Cornila mine in Africa. I have already contacted the Angel Mercenary Group for escort, and the diamonds will be delivered to Longteng in the next few days."
Upon hearing the voice, Chen Dong confirmed the source of the call again and finally realized that the caller was the mercenary he had sent to Africa two years ago.
This chapter is not finished yet. Please click on the next page to continue reading the exciting content!
Continue read on readnovelmtl.com
