When this happens, their clients' first reaction is to redeem their funds, at which point the entire asset management company will be forced to declare liquidation, which is no different from bankruptcy.
After discussing it for a long time, the two decided to meet with a lawyer late at night to discuss the bankruptcy application.
...
noon.
When Chen Dong woke up and entered the office area again, he was surprised to find that everyone was discussing something. However, when they saw Chen Dong, everyone stopped what they were doing, and then they all stood up and faced Chen Dong.
"Thank you, boss!"
"Thank you, boss!"
"Thank you, boss!"
Three loud snorts followed, each one louder than the last. Chen Dong scratched his head and looked at Wangcai.
Wangcai shrugged and said, "Boss, it really wasn't my idea; they decided on their own."
He then explained the reason: Chen Dong had indeed promised Wangcai that the traders could participate in the trading, but he meant using their own money, not the company's.
The last time the Thai authorities announced two major pieces of news, most traders suffered significant losses, with only Xiang Huasheng's account showing a profit. However, on the same day, Chen Dong explained the specific reasons to them, as well as his declaration that the Thai baht would definitely depreciate.
Now, not only are companies making money, but more importantly, many traders have also seen their wallets bulge in this operation.
Chen Dong found it amusing, but he didn't stop it. It was a way to build cohesion and bind everyone together.
What is the current market price of the Thai baht?
"Although not as optimistic as we anticipated, it has still hit a new low for the Thai baht against the US dollar recently. Since the announcement, the baht has fallen by 17% against the dollar. In addition, BOT announced overnight that it would raise the interest rate in Thailand from 10.5% to 12.5%, an increase of 200 basis points."
......
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