Chapter 229 Mato Walls: Isn’t this too much of a coincidence?
To be honest, if he didn't have the memories of his past life, he might have followed these guys and confidently believed that Hong Kong, which was in a disadvantaged position, would actually have a glorious moment of turnaround and counterattack?
As for the subsequent rapid change of camp, from shorting the Hang Seng Index to going long on the Hang Seng Index, Zhang Junfeng still plans to let KB Bank take the lead, rather than going through the channels of Goldman Sachs Group.
I don't want to explain any more to these "idiot teammates" who have already gotten too excited. It's hard to say whether I can successfully convince them, but it's very likely that the news will be leaked! In the face of huge interests, they have long lost their previous rationality. If I let these guys follow me and go long again, I guess I will probably be regarded as a representative of "crazy brains", right?
——————Dividing line——————
After receiving the inside information, the short sellers who had been operating around the Hong Kong stock market began to follow a pre-planned routine - "suppressing the foreign exchange market, short selling the stock market, and making profits in the futures market". These three strategies relied on each other and once again launched an offensive against Hong Kong's financial industry.
Under this series of schemes that can be described as a modern financial war, the Hong Kong side was defeated again.
Some sophisticated international capital began to make early arrangements since the beginning of 1998. Whenever the Hong Kong dollar interest rate stabilized, the short sellers borrowed Hong Kong dollars to reserve "ammunition" in advance. By the beginning of July, the scale of Hong Kong dollar short positions had exceeded 16 billion US dollars. At the same time, they hoarded about 90,000 stock index futures short contracts. According to estimates, for every 1,000 point drop in the Hang Seng Index, the short sellers could make a profit of 2.5 billion US dollars! On July 13, the Hang Seng Index really fell below 6,600 points as previously rumored. Compared with the high of 16,673 points a year ago, the sharp drop has exceeded 10,000 points. A large number of listed companies and stockholders' wealth were looted. This scene also made these international speculators who participated in short selling jokingly call Hong Kong a "super cash machine". They only need to move their fingers to get a lot of wealth from here!
The next day, Hong Kong stocks still opened lower, but with the massive intervention of official funds, the 33 constituent stocks of the Hang Seng Index began to be bought in an orderly manner. The index soon began a V-shaped rebound, the downward trend was stopped, and there were even signs of a turnaround.
It was at this moment that the futures exchange staff who had been notified in advance finally completed the last short order after dozens of minutes of operation, and called the major customer (Zhang Junfeng) to report the current situation.
Zhang Junfeng heaved a sigh of relief when he learned that he had successfully retreated. He was really worried that he had not retreated in time and would be trapped.
Not long after Zhang Junfeng cleared his futures contracts, the Hang Seng Index quickly showed a strong upward trend under the massive injection of official funds. Even though these speculators continued to sell off in an attempt to suppress the stock market, the effect was still not good. Finally, at the afternoon close, the Hang Seng Index opened low and ended high, successfully turning positive and rising by more than 8%!
After the market closed that day, Hong Kong Financial Secretary Tsang Yin-kuen announced at a press conference that the authorities would enter the stock and futures markets, taking over selling orders in the forward foreign exchange market while maintaining the exchange rate, and requiring brokerage firms not to lend stocks to foreign short sellers.
Once the news was reported, it quickly caused a huge response. Many companies and stock investors applauded and even felt that this time they might be able to witness a "miracle" happen. The Hang Seng Index would be able to turn danger into safety, withstand pressure from multiple parties, and completely thwart the conspiracy of greedy international capital.
…
Many international speculators who did not have time to retreat were badly hurt by this "critical hit". This wave of rebound alone was enough to make them lose a large part of their previous profits. It felt like they were being slaughtered!
Also stunned was Goldman Sachs' Vice President Matto Walsh! When he received the latest news on the phone, he was a little mad, "Oh, shit! What the hell is this? Didn't they say that Hong Kong has no power to fight back? Why is it suddenly rising so much?!"
He felt so painful when he thought that he would have to give up half of the profits from his previous investment. If the Hang Seng Index continued to soar in the next few days, he would have a lot of fun! After all, the money he used was raised by the group through investment channels. If there was a serious loss, he would probably be in big trouble!
(Note: Mato Walls entered the market relatively late, so his earnings were not particularly high)
And just as he was anxiously thinking about the next action, he unconsciously remembered what Leon John mentioned to him when he talked on the phone before. He couldn't help swallowing his saliva and muttered, "What Zhang Junfeng said...it shouldn't be such a coincidence, right?"
Although he said so, Matto Walls, who had suffered a "critical hit", now felt a little scared. If it was really as Zhang Junfeng said, if he continued to hold on, he might be the first to die before Jacqueline Bernard got into trouble!
After weighing the pros and cons, Mato Walsh finally decided to cash out before the big shock came, so as to avoid being buried alive on the spot without having time to retreat! ...
In the evening, Zhang Junfeng and his wife Li Fuzhen were attending a family dinner at the Li family of the Five Star Group when a cell phone suddenly rang. Zhang Junfeng greeted the people awkwardly and stood up to answer the phone.
As soon as the call was connected, Leon John's excited voice came out from the phone, "Zhang, you are simply the god of investment! If I hadn't followed your advice and forcibly liquidated those short futures contracts, we would have suffered too much loss from this investment..."
Listening to Leon John's excited words on the other end of the phone, Zhang Junfeng remained quite calm. In his opinion, he had made preparations in advance, but the situation was indeed a bit coincidental.
Perhaps it was because Leon John's voice on the phone was too loud, Li Zairong who was nearby seemed to have heard what the other party was saying. For a moment, he put down his chopsticks and looked at Zhang Junfeng with some intention.
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
He seemed to have heard about the investment just now. Could it be that... Zhang Junfeng was going to make another big move? ! Seeing Li Zairong's abnormal behavior, the people who were originally enjoying their dinner quietly stopped curiously, their eyes gradually stayed on Zhang Junfeng, and they listened quietly to the conversation between Zhang Junfeng and the other party.
(End of this chapter)