The penniless son of the penniless ...

Chapter 231 The Curtain Comes to an End
In the following half month, the final battle between the Hong Kong officials and the army of short sellers began.

The short-selling army led by Quantum Fund has hoarded a large number of July contracts for shorting the Hang Seng Index at around 7500 points. In other words, 7 points has become the victory or defeat point of this battle, and it is also the "life and death line" for both long and short sides!
Soros openly declared in the Wall Street Journal that "Hong Kong officials are bound to lose" - this is not the first time he has challenged the government, but he has never been defeated before.

After Zhang Junfeng, who was far away in Goryeo, saw this news report, he immediately contacted Kim Jung-tae, the chairman of KB Bank, and asked him to go long on Hong Kong's Hang Seng Index in the international futures market in the name of KB Bank. If conditions permit, it would be best to add 3-4 times leverage.

As for the funds, Comet Capital will transfer a huge sum of more than 10 billion US dollars before 15 am the next day as "ammunition" for this long position. In addition, KB Bank will also allocate % of the funds it can mobilize to invest in it.

Even Jin Zhengtai, an elder who had experienced more than 50 years of ups and downs, was deeply shocked at this moment. He didn't expect that Zhang Junfeng, the big boss, would be so crazy. Wasn't he afraid that if there was any mistake this time, he would lose all his money? !
You have to know that the funds that KB Bank can use now were barely accumulated with great effort. If the capital chain breaks again, KB Bank may be on the road to bankruptcy!
Hearing the concerns of Jin Zhengtai, the person in charge, Zhang Junfeng said confidently that their chances of winning this time were extremely high, at least 80% to 90%! And as long as they could hold on for more than half a month, they would be able to reap a super high return of at least twice the principal. It would be a pity to miss it!
Jin Zhengtai heard Zhang Junfeng's promise and finally agreed. After all, the current major shareholder of the bank is Zhang Junfeng, the big moneybag. Since he said so, he might as well go all out and give it a try!
If it really works, then KB Bank will be able to turn losses into profits in one fell swoop, no longer worry about capital shortages, and once again become one of the strongest banks in Goryeo! Moreover, Comet Capital's available funds will soar again in a very short period of time. With such a powerful "backer", KB Bank can definitely break out of Goryeo and enter the financial industry in Asia and even Europe and the United States!

……

July 7 was the delivery date for that month's Hang Seng Index futures. On that day, the government commissioned several major brokerages to hold on to the 28 Hang Seng Index constituent stocks and take over all selling orders.

Within 5 minutes of the opening, the stock market's turnover exceeded HK$39 billion; by the close of the morning, the turnover had reached HK$450 billion. After the afternoon opening, the selling force continued unabated, and several major brokerages continued to accept all orders with the strong support of the government. The trading volume continued to rise, and the final single-day turnover reached HK$900 billion, setting a record for the single-day trading volume of Hong Kong stocks in history.

Finally, the Hang Seng Index successfully reached 7829 points, far above the short position cost line of 7500. At the press conference after the market closed, Financial Secretary Tsang Yin-kuen solemnly announced: "In the battle against international speculators and to defend the Hong Kong stock market and the Hong Kong dollar, Hong Kong has won a decisive victory!"

……

In the 7 trading days before the July Hang Seng Index futures delivery date, the authorities mobilized more than HK$10 billion of foreign exchange reserves.

This move also caused Hong Kong's foreign exchange reserves to show negative growth for the first time since 1998, which shows how fierce the financial war in Hong Kong is.

In the following period, in order to maintain the fruits of victory at the end of July, the Hong Kong Monetary Authority promulgated seven measures related to foreign exchange, securities trading and settlement, which greatly restricted the operating space for international speculators to short the Hong Kong dollar and Hong Kong stocks in the same way again.

Many international speculators who did not have time to withdraw eventually suffered heavy losses in this crazy "gambling game" and lost everything they had! These short-selling institutions that suffered huge losses are now gnashing their teeth at the Hong Kong government's intervention in the market. If the other party had not "disregarded martial ethics", how could they have lost so miserably? !

Suddenly, the Western media's coverage of the Hong Kong government's defense against financial sniping began to change, and began to mock the government's "meddling" and "not being able to accept defeat", saying that some of its actions seriously violated the "good" order of free trade in the capital market...

Goldman Sachs Group branch in Korea, in a remote video conference room.

Seeing that Mato Walls had not arrived yet, Zhang Junfeng and Leon John hadn't talked to each other for a while, so they took the opportunity to chat casually.

"Zhang, I even suspect that you are a wizard with the ability to predict the future! You guessed that the Hang Seng Index would surge, and even the World Cup champion and runner-up were all right!" Leon John felt speechless and heartbroken when he remembered that he had vowed in front of Zhang Junfeng that the Brazilian team could defend the title again.

He was just a little bit away from making tens of millions of dollars, but the French team won, and the money he bet on was gone overnight!

But according to Zhang Junfeng's previous bets, he should have made a lot of money from this World Cup, right? After all, he predicted both the champion and the runner-up, so his skills must be very good.

When Leon John repeatedly asked him about his profits from football betting, Zhang Junfeng had no choice but to explain that he could have earned more than 7 million US dollars, but he had to pay an extremely high tax of 20% in Europe, so he was only left with 6.4 million US dollars.

But even with such a huge amount of taxes, he still got hundreds of millions of dollars, which still made Leon John quite envious. If he had known earlier, he would have followed Zhang Junfeng's bet. Tens of millions of dollars of unexpected money would have slipped away right under his nose!

Those Brazilians are simply toxic. They even lost to a little-known team like France. With such a bad look on their faces, I really doubt how they won the championship before. It's so deceptive!
……

As if sensing Leon John's depressed mood, Zhang Junfeng smiled and comforted him, "Although you lost the bet this time, didn't you still make a lot of money in the futures market this time?"

Hearing Zhang Junfeng say this, Leon John was stunned for a few seconds, and soon burst into laughter. Isn't that the case? !

Before that, he decisively followed Zhang Junfeng's advice and cashed out those futures contracts that shorted the Hang Seng Index at a high price, successfully earning nearly 2000 million US dollars. You know, this amount of money is almost as much as his salary for 15 years without eating or drinking!
(End of this chapter)