Chapter 50 The financial sniper war begins again
"You said it yourself. I didn't force you~!" Seeing that Li Fuzhen was so sure that she couldn't succeed and still made such a "bet", if he didn't dare to accept it, this woman would probably be furious!
He was very curious. After a few months, when he successfully took over the Goryeo State-owned Bank, would this woman still fulfill her "bet" today? ——————Dividing line——————
In July 1997, as the Thai baht exchange rate collapse continued to ferment, the Philippine peso, the Indonesian rupiah, and the Malaysian ringgit became the targets of international speculators! By August, the weak Malaysia became the second country to collapse its currency exchange rate after Thailand, which also dealt a huge blow to the Singapore dollar, which had always been strong.
The successive victories in the financial sniping wars have made these international speculators a fortune, but they have also gradually realized that Asia at this moment is like a fat goat. The horns that look intimidating actually have little lethality at all!
Therefore, the international speculators who were completely crazy set their next hunting target on the international financial center - Dragon Country Hong Kong in October, and pointed the spearhead directly at the exchange rate of the Hong Kong dollar! The Dragon Country Treasure Island, which received the news, seemed to have received the news in advance, and suddenly issued a notice to give up the New Taiwan Dollar exchange rate. This amazing operation of backstabbing teammates directly transferred all the pressure to the Hong Kong dollar and the Hong Kong stock market! Under the repeated tests of international speculators, the Hong Kong Hang Seng Index fell sharply for two consecutive days on October 21 and 22, with a cumulative drop of 1,200 points, a drop of more than 9%!
Such sudden bad news greatly shocked Hong Kong stock investors who were unaware of the truth. The stock market was clearly booming, so how could it suddenly start to plummet?
Before they could react, after the Hong Kong Stock Exchange opened on the 23rd, the Hang Seng Index continued to fall, falling to a low of 9766.7 points, with a drop of as much as 1871 points. Fortunately, mysterious funds entered the market later and the Hang Seng Index rebounded in the afternoon, rising to 10426.3 points at the close, a drop of 1211.5 points, or 10.4%!
On that day, Hong Kong's listed companies lost HK$433.5 billion, a decrease of HK$154.2 billion, or 35%, compared to the peak market value of HK$433.54 billion in August! At the same time, the top ten richest people in Hong Kong lost a total of more than HK$210 billion! The continued plunge of the Hang Seng Index triggered a chain reaction in global stock markets. On the 27th, the Dow Jones Index in New York, the United States, plunged 554.26 points, becoming the worst day in history. The Tokyo Metropolitan Index plunged more than 800 points after opening!
By the 28th, Hong Kong's Hang Seng Index had plunged more than 1,400 points, a staggering drop of 13.7%. The lowest point of the day was 8,775.88 points. It rebounded to 9,059.89 points at the close, setting a record for the largest drop in history.
…
Late at night, in a villa in Gangnam District, Seoul, Goryeo.
Zhang Junfeng was chatting with Leon John about the situation of the Hong Kong stock market, and both of them were in a very good mood!
Zhang Junfeng was much calmer about this. "It's almost time. It's time to quit while we're ahead! John, sell our short positions as soon as possible and cash out!"
"...Are you ready to cash out and sell now? Why not wait two days? According to the current trend, Hong Kong's Hang Seng Index should still fall sharply. If we sell too early, we will lose a lot of profits!"
Having tasted the sweetness, Leon John hesitated. In his opinion, leaving early was obviously a wrong decision!
"John, the Hang Seng Index can't keep falling like this! The reason why those international speculators are successful is because the authorities have not taken any corresponding actions, but this doesn't mean that they won't personally step in to drive out those guys who are disrupting the market!"
“To a large extent, speculation and stock trading have the same characteristic: you can never buy at the lowest point and sell at the highest point. The most reliable and winning trick is to stop when you are ahead and take the money for granted!”
"All my short-selling orders must be sold off in the next two days to recover the funds. If you don't believe me, you can give it a try! But if the Hang Seng Index rebounds and the short-selling fails, don't blame me for not warning you in advance!"
Hearing Zhang Junfeng's cold and tough words on the phone, Leon John nodded and quickly agreed. After calming down, he knew that the one with real investment talent was Zhang Junfeng, a VVIP customer, and he was just a trader in charge of the operation. The reason why he was able to make so much money this time was because he had Zhang Junfeng's support.
He just had to follow Zhang Junfeng's instructions. There would be plenty of opportunities to make money in the future anyway, so there was no need to gamble on an uncertain future with something like this! And it wouldn't do him any good to make Zhang Junfeng unhappy!
(End of this chapter)