Throughout the bidding process, Chen Dong bought up every single bid Soros offered, leading to a massive sell-off by international hedge funds, with almost all sell orders ending up in offshore company accounts.
After the market closed, Soros saw it and became anxious. "The securities and investment companies under the four major families all know when to take profits, but this offshore company is simply a black hole that can't be filled."
As night fell, several other fund managers within the international hedge fund industry called Soros one after another to put pressure on him.
"I don't care what happened today, I only care about the result."
"Enough, Soros! You yourself promised to use HK$500 million to dump the shares today."
"The result of your sell-off? You still managed to push the Hang Seng Index up by nearly 2.7%. Are you kidding me?"
“Brother Soros, it’s not that I’m trying to make things difficult for you, it’s that you’re making things difficult for me.”
“Our money doesn’t grow on trees. If this continues, I will have to leave Hong Kong.”
Several financial magnates warned Soros that he needed to act quickly.
Soros's international hedge fund includes not only Quantum Fund and Tiger Fund, but also other international commercial banks and funds of all sizes. Soros currently manages his money using their funds, so he certainly cannot afford to be complacent when facing these financial giants.
Unlike the shadow cast over the Soros Group, Wangcai and Ma Guoliang both wore smiles on their faces.
"The stock market experienced a quake today, with two drops. The first drop should have occurred within three or four minutes of the power outage. In just a few minutes, the Hong Kong stock index dropped by 300 points."
Wangcai reported today's results: "The second drop occurred after we intervened to support the market. This time, the drop was limited, only about 100 points."
"However, after our relentless efforts to support the Hang Seng Index, it rose by nearly 2.7% to 8746 points."
"Today's market support used a total of HK$7 billion, with HSBC Holdings accounting for the largest share, and the remainder coming from MTR Corporation and other listed companies."
Ma Guoliang breathed a sigh of relief after hearing this, "There are only a few days left until August. As long as we can hold on to this big drop, nothing else is scary."
"We have one more week to clean up the battlefield and then we can begin our plans for September."
Chen Dong disagreed, saying, "They have many ways to cripple the Hong Kong stock market. Since Soros chose to act at the end of the month, their timing must have been significant."
"It's only the last few days of August for me, they will definitely take advantage of this opportunity to dump their shares."
Wangcai and Ma Guoliang exchanged a glance, feeling utterly incredulous. Lin Zhiyuan frowned, "There's still about a week left. Will they make it in time?"
"Even if they borrow stocks from brokerage firms and securities companies, it wouldn't be enough to compete with us."
Lin Zhiyuan still had confidence in the offshore company, after all, they still controlled a very large amount of funds.
"What if they lend shares from the listed company to its shareholders?" Chen Dong asked.
To short the stock market, you need to have the chips to dump. International speculators can easily drive retail investors to sell off their existing chips, plus chips they've acquired from brokerage firms, securities companies, and major shareholders of listed companies. Then, they can buy back the chips at a lower price to close their positions and profit from the price difference.
"How could they borrow so many stocks from whom in just one week?" Lin Zhiyuan asked curiously.
Chen Dong narrowed his eyes, as if he had thought of something, "The four major families."
"Aren't they our allies?" Ma Guoliang and Lin Zhiyuan asked in unison.
Chen Dong shook his head. "In the capital market, where are there permanent friends and permanent enemies?"
"Have you all forgotten how the four great families rose to power?"
Although Chen Dong had an agreement with the four major families to work together to support the Hong Kong financial market, he was also worried that the four families might do one thing in public and another in private.
If they betray Chen Dong at the most critical moment, then Chen Dong will truly have no way to seek justice.
“The Xiangjiang International Financial Center is home to many wealthy people. Besides the four major families, there are many other rich and powerful individuals, including some who follow Soros in shorting the market.” Ma Guoliang couldn’t help but worry after hearing Chen Dong’s words. “If the four major families cannot be trusted, then these people are even less trustworthy.”
They originally thought they had the victory in their grasp, but after this analysis, they realized that they were surrounded by wolves.
Lin Zhiyuan commented, "This situation is just like when we mortgaged our mining assets to the Saudi prince. At that time, we were also going all in, exchanging so many of our assets for them."
"International hedge funds, going all in, will definitely bet even more to increase their chances of winning."
The market had already closed, but all the traders and researchers in the trading hall remained, quietly listening to the discussion among several senior executives.
During this month, the Hang Seng Index fluctuated wildly, like a rollercoaster. They couldn't hear any specific operational plans from Mr. Lin, which left them feeling uneasy.
Looking at the pairs of expectant eyes behind him, Chen Dong felt even more pressure. The evening breeze was refreshingly cool in the office, but he felt a fire burning inside him, making him restless and uneasy.
At this point, neither the international hedge fund nor Chen Dong's side knew the other's hand, and neither side dared to act rashly.
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