"Time's up, let's get started!"
Zhan Yinglong issued a buy order across the board.
Just 15 minutes after the Hong Kong stock market opened, the Hang Seng Index plummeted by 5.6%, a drop of 341 points, causing the index to fall below the 6,000-point mark.
The panic from the previous trading day was amplified further.
Countless individual investors and investment institutions chose to cut their losses and leave the market.
Under the black storm.
Nobody knows how long this crash will last, so the safest course of action is to leave now.
Just when everyone thought today was going to be another disastrous "Black Monday," the stock index, which had been falling all the way down, suddenly showed signs of consolidation.
The Hang Seng Index, which had been cascading down like a waterfall, stubbornly halted its decline near 5760 points...
My God, what's going on?
Countless individual investors and institutional traders who were intently watching the stock index charts were immediately dumbfounded.
Could it be...?
Is there a large inflow of funds?
Has the government started using its foreign exchange reserves to rescue the market?
Didn't the Financial Secretary say that at Saturday's press conference?
The use of reserves requires extensive discussion and is a very cautious and serious matter.
Why has it started already?
When did the Hong Kong government become so efficient?
In the stock market, the bulls, who are suffering a crushing defeat, seem to have seen a glimmer of hope for survival.
Even so, they only hoped that this influx of funds would slow down the stock market crash.
As for turning the tide and pulling the stock index up? Don't even dream about it.
Even if real reserves were used to rescue the market, it would be very difficult to achieve!
That's how the stock market works; when the surrounding environment is extremely unfavorable, any slight disturbance will be amplified infinitely by the market.
It is difficult to turn a bear market into a bull market by relying on just one or two waves of capital entering the market to save it.
Moreover, everyone understands that Hong Kong Island has been targeted by Western capital led by the Quantum Fund, and if it doesn't suffer a major blow this time, it will be difficult to recover.
The pessimistic and desperate mood did not recover despite the Hang Seng Index's brief period of stabilization and sideways movement.
On the contrary, the vast majority of people believe that this is just a temporary rebound in the stock index.
Investors who were unable to cut their losses and exit the market during the previous sharp decline are now taking advantage of this rare opportunity to frantically sell their shares...
....................................
Hong Kong government, Financial Secretary.
A heated discussion is underway regarding whether reserves should be used to rescue the market.
Officials holding opposing and supporting opinions are evenly split, and neither side can convince the other.
Hong Kong stocks opened today with another epic plunge, and the downward trend seems inevitable, highlighting the severity of the problem.
Chief Executive Fok Kim-ming advocates using reserves to intervene in the market to rescue it.
Having only been in office for three months, he did not want to leave a stain on Hong Kong's economic collapse during his term.
Financial Secretary Tsang Ping-chuen has not yet expressed a clear opinion.
His male secretary knocked on the door and came in, saying a few words to him anxiously.
Zeng Bingquan's expression shifted, and he stood up and went to Huo Jianming, who was at the head of the conference table, and whispered something to him.
Huo Jianming's expression immediately changed, his eyes filled with disbelief.
He pondered for a moment, then nodded, indicating that Zeng Bingquan could release the internal data.
The argument in the meeting room fell silent; everyone sensed the unusual atmosphere.
Zeng Bingquan instructed his secretary to turn on the wall-mounted electronic screen.
"Ladies and gentlemen, an unusual situation has just occurred. I have discussed it with the Chief Executive and we feel it is necessary to inform you."
Zeng Bingquan pointed to the newly turned-on screen and said:
“Just three minutes ago, 632 out of 645 listed companies in Hong Kong were bought up by a huge amount of money.”
"This funding comes from a fund and 13 offshore companies, totaling HK$98.7 billion."
Buzz!
The meeting room erupted in chaos.
The attendees couldn't help but whisper among themselves.
This information is absolutely astonishing.
In such a dire environment, who would dare to use such a large sum of money to save a market that is known to be doomed to fail?
Is it Li Ka-shing?
Or are they just those top tycoons from Hong Kong Island?
Impossible!
Ultimately, whether it's Li Ka-shing or the other major tycoons, they are essentially businessmen and capitalists.
It's understandable that they spend money to buy their own stock to stabilize the share price.
But buying so many stocks at once is tantamount to throwing money at the market to save it. What is the purpose of this?
"Director Zeng, which fund did you just mention that spearheaded the purchase?"
"Exactly, in the current situation, which fund would have the guts to do that?"
"I've seen many strange things, but I've never seen anything as bizarre as what happened today."
"Could it be Li Ka-shing and Lao Bao and their gang?"
"It's unlikely, and none of us have heard anything about it."
......
Zeng Bingquan gestured with both hands: "Please be quiet for a moment and let me finish what I have to say."
The venue fell silent instantly.
Zeng Bingquan cleared his throat:
"I believe everyone has heard of this fund recently. It is the Dragon Scale Fund, which was just rated by the media as one of the most profitable funds in Asia two months ago!"
The venue erupted in chaos once again:
"Holy crap! It's the Dragon Scale Fund?"
"Dragon Scale Fund? That's an absolutely awesome entity!"
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