Hong Kong variety show: My handsome son, Kwan, is a master at making money in Hung Hing.
Chapter 189 This mental fortitude is exceptionally strong.
Who could stand such a dirty trick?
Qin Tai only took 5 billion US dollars and didn't personally deal with the Tong Group, which is already a huge favor. Now that they know they can't afford to offend him, they come running over to beg for forgiveness. What good is that?
Do you know you were wrong?
No, you were just hurt and scared!
"Cough cough... My dear daughter, you must help your father. This is for the sake of our Tong Group!" Mr. Tong smiled bitterly and quickly promised, "I'm getting old. After we get through this crisis, I'll hand over the reins to you. I'll retire peacefully and stop getting involved in these things."
Tong Keren couldn't help but rub her forehead, feeling a headache coming on. She sighed, "We made a mistake this time. It's not going to be that easy to appease him. I'm afraid it will be a long battle. We need to show enough sincerity."
"It's alright, it's alright. We're not afraid of a protracted battle; it's not a crisis yet," Mr. Tong reassured himself. "Anyway, the market is good right now, and the Bankers Association has announced an interest rate hike to 20%. When our bank introduces more favorable terms, it will definitely attract more and more depositors..."
But misfortune never comes singly. Just then, the television in the reception room began to play like a devil's whisper, and the content it conveyed made the father and daughter change color again.
"...The largest British-owned conglomerate has announced its official relocation of its headquarters, leaving Hong Kong Island..."
"Stock market news: The Hang Seng Index continues to fall!"
The market started falling at 9:10 AM and closed at 7:10 PM, with trading volume plummeting by 60% compared to yesterday...
"Financial news reports that Longguo Bank has acquired a plot of land in Central for HK$1 billion to serve as its new headquarters. Due to the significant discrepancy between this figure and the market's estimated HK$2.5 billion, the Hang Seng Index has plummeted again…."
"Jiawen Century, once a dark horse in the stock market and a hot stock for a year, has plummeted from 52 yuan to 14.2 yuan before the close of trading. The four major securities firms are not optimistic about its future performance, and the stock price of collateralized credit has plummeted. Banks may become the biggest victims!"
Tong Keren and her father jumped up as if they had been electrocuted, their faces visibly filled with panic and fear.
Every piece of news was a bombshell, plunging the Tong Group into the abyss!
The Hang Seng Index has plummeted! This means that all the investment projects that the Tong Group has its eye on are facing huge losses!
Jarvan Century's stock price has plummeted! Previously pledged shares have turned from gold into worthless paper – the art of money evaporation!
However, these are not the most deadly.
Mr. Tong's face turned pale. He shakily took out his mobile phone and asked Director Sun, "What's the exchange rate for Hong Kong dollars now? (I need more information!)"
The phone line was filled with the chaotic sounds of a crowded, noisy crowd. Even through the receiver, the chaotic background noise could be heard. Bank Manager Sun's voice, sounding as if he had lost his parents, came through weakly.
"Mr. Tong, the Hong Kong dollar has depreciated dramatically. The exchange rate against the US dollar has changed from 1:4 to 1:9.6! One US dollar can be exchanged for 9.6 Hong Kong dollars. A bank run has already begun. Our bank... is finished!"
Bang!
Mr. Tong slumped to the ground, his eyes gradually losing their luster. The thing he feared most had happened, and he never imagined it would come so quickly and so unexpectedly!
Overnight, he went from being a top billionaire to falling into the abyss. His hair seemed to be covered with a layer of white frost, and he sighed dejectedly, like a salted fish that had lost its dreams.
Boom!
Lightning ripped through the night sky, and the rain poured down outside the window, pounding against the large French windows, as if heralding the arrival of a great era, or perhaps a lament buried in the dust of the rolling torrent of history.
"This is the trend of the times!"
Looking out the window at the dark clouds pressing down on the city, Qin Tai was in high spirits as he downed the wine in his glass in one gulp. Fortunately, he was the winner in this game.
Faced with this great tide of the times, the power of an individual seems so insignificant. The Hang Seng Index plummeted, the Hong Kong dollar depreciated several times over, countless banks collapsed due to bank runs, countless deposit and wealth management institutions declared bankruptcy, and countless people lost their fortunes in the stock market turmoil. With the fluctuating numbers on the stock market, years of accumulated wealth were wiped out in an instant.
Newspapers are everywhere, and their headlines are more and more shocking than the last.
"Black Monday, the Great Depression has arrived!"
"Hong Kong stocks plummeted, with the Hang Seng Index hitting a record low! A major earthquake struck the stock market, with foreign investors raising the white flag and fleeing to avoid the stock market crash!"
"A shocking incident occurred in Central; a 70-year-old woman, having lost everything, attempted suicide by hanging but was rescued..."
In the television interview, Cheng Yiyan, the largest shareholder of Jiawen Century, remained calm and composed in the face of the reporters' sharp questions, displaying an air of composure even in the face of a collapsing mountain.
However, this was his last moment of glory. The Hang Seng Index plummeted, and the stocks went from being precious nuggets to worthless paper, meaning that all of Jiawen Century's debts could no longer be hidden.
His future prospects are like the dark, heavy clouds before his eyes, so dark that he can't see his own hand in front of his face.
"The local market is certainly not very optimistic, but our Jiawen Century's development is global! So, our profits this year have even exceeded expectations! I believe this will soon be reflected in the stock price."
Tsk tsk tsk, as expected of Cheng Yiyan, who is known as the "Golden Finger," when it comes to boasting, he is truly a world-class expert.
That's an exceptionally strong mental fortitude.
However, this once-effective hype-building tactic has lost much of its power in the face of today's overwhelming stock market crash and sharp decline, as the bubble has burst.
This immediately drew sharp questions from reporters: "How are you reacting? Please explain in detail!" "Your real estate in the United States has also been severely affected, hasn't it? Are you struggling to survive?" "All of Jiawen Century's companies have been exposed to have large amounts of debt. How do you explain this?"
Every question hit the nail on the head.
"To thank our shareholders, I have decided to distribute an interim dividend of 12 cents per share. Thank you all!"
Cheng Yiyan's words shocked everyone present once again.
Not only the reporters, but also other major shareholders such as Zeng Jianqiao and Zhang Jiawen couldn't help but change their expressions. Unfortunately, Cheng Yiyan did as he pleased. After making this seemingly absurd, but actually quite absurd, announcement, he turned around and left, leaving the reporters far behind.
"Tsk tsk, what a generous move. Jiawen's stock price is less than three dollars, yet it still pays out 12 cents in interest. This isn't because it has a strong foundation, but because it's barely surviving."
Knowing all the cards on the table, Qin Tai leisurely crossed his legs. In less than a week, amidst the stock market crash, Qin Tai had already made a killing by shorting the stock with ten times leverage at its peak. He only needed to watch helplessly as Jiawen Century's stock price plummeted day by day until it went bankrupt and was delisted.
"The only downside is that the Hang Seng Index futures haven't been released yet, otherwise this number could have doubled even further!"
Qin Tai was now insatiable, his face showing a look of dissatisfaction.
If we wait for stock futures to emerge in the future, like Ting Hai betting on big or small, and directly buy the Hang Seng Index with all our funds when it crashes, one point is worth fifty dollars. Even if we just buy tens of thousands of lots, the fluctuations will generate at least several hundred million dollars in turnover!
A rough calculation suggests that Qin Tai's personal net worth will ultimately be no less than 400 billion US dollars.
Excluding those wealthy families with centuries of history, this figure directly surpasses all the world's richest people in the 1980s. Even the richest person in an island nation who started with the real estate bubble only had a maximum of 22 billion US dollars in assets.
A dramatic increase of more than two times!
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