The penniless son of the penniless ...

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 "stupid teammates" who have already gotten too excited. It's hard to say whether I can successfully convince them, but it is very likely that the information will be leaked!
In the face of huge profits, they have long lost their previous rationality. If I let these guys follow me and do more in the opposite direction, I guess they will probably regard me 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 capitals have started to make advance arrangements since the beginning of 1998. Whenever the Hong Kong dollar interest rate is stable, the short sellers will borrow Hong Kong dollars and reserve "ammunition" in advance. By the beginning of July, the scale of Hong Kong dollar short positions had exceeded 7 billion US dollars. At the same time, they have hoarded about 160 stock index futures short contracts. It is estimated that for every 9 points that the Hang Seng Index falls, the short sellers can make a profit of 1000 billion US dollars!
On July 7, the Hang Seng Index fell below 13 points as rumored before. Compared with the high of 6600 points a year ago, the decline had exceeded 16673 points. A large number of listed companies and shareholders’ wealth were looted. This scene also made the international speculators who participated in the short selling jokingly call Hong Kong a "super ATM". They can get massive wealth from it just by moving their fingers!

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 lot of their previous profits in one go. 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 Walls finally decided to cash out before the big shock came, so as to avoid going all out and being buried alive without 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.

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 few people who were originally enjoying their dinner quietly stopped with some curiosity, and their eyes gradually stayed on Zhang Junfeng, listening quietly to the conversation between Zhang Junfeng and the other party.

(End of this chapter)