Chen Wanxian had just been released from prison at this time. He was shocked when he saw that the stock index really plummeted.
He had previously ignored Chen Taotao's advice and bought a large amount of Wanbang stocks.
Now with the stock market crash, the share prices of almost all listed companies have plummeted. The Wanbang stocks he bought at a high price have now fallen in price by at least 10%, causing him to lose more than 600 million Hong Kong dollars.
And his net worth is only 2 billion Hong Kong dollars, which has shrunk by 30% in one morning. For him, this is naturally an unbearable loss.
So without further ado, he immediately ordered the stock broker to sell the stocks in his hands and recover as much loss as possible.
"Damn it, how could a stock market crash really happen? Did that bastard really predict the future?" Chen Wanxian said very depressedly. This time he lost at least half of his net worth. It really makes his heart hurt to think about it.
…
At one o'clock in the afternoon, the stock market opened again.
As soon as the market opened, the Hang Seng Index plummeted by 180 points.
All investors and all capital knew that a stock market crash had occurred, and naturally they were unwilling to continue to hold stocks, so they all sold off in large sums.
But the more you sell, the less you buy. No one buys the stocks of many listed companies, and the stock prices fall again and again. Even for high-quality listed companies like Wanbang, the stock price has fallen by 50%.
Seeing such a decline, Chen Wanxian almost vomited blood.
Although he started selling as soon as the market opened, he sold too much and no one took the orders, so there were still a lot of stocks left unsold, and he lost them all.
Now as the stock price plummets, his losses have exceeded HK$3 billion. Not only did he lose his entire net worth, but he also incurred hundreds of millions in debt.
More importantly, he owed not only money from the bank, but also money from the Baodao underground bank.
If he owes money to the bank, he can still apply for bankruptcy. At worst, he will live a hard life for a few years, and there is still a chance to make a comeback. But it is impossible to default on money owed to underground banks.
Those people recognize money but not people. If they really want to pay back the money, they really dare to use violence to collect debts. Maybe the whole family will not survive.
…
At 4 o'clock in the afternoon, the Hang Seng Index closed at 3,362 points, plummeting 432 points in one day, a drop of 11%.
Nearly HK$50 billion in market value evaporated out of thin air, and all Hong Kong stockholders suffered an average loss of HK$50,000. Calculated based on a monthly salary of 4,000 yuan, it is equivalent to a loss of twelve months’ income.
Chen Wanxian was even more miserable. His book capital lost 3 billion Hong Kong dollars, which cost his entire net worth.
To make matters worse, the bank has frozen his account and is pursuing debt collection from him. When the underground banks in Baodao learned about the stock market crash, they also began to collect debts from Chen Wanxian.
"Chen Wanxian, you lent me three billion Hong Kong dollars. I hope to see the money tomorrow. Otherwise, don't blame me for being rude to you." Someone from the underground bank called him to collect the debt.
The bank also called Chen Wanxian, "Mr. Chen, the price of the stocks you pledged to us is now below the warning line. If you can no longer provide new collateral, then we will have to sell it."
Facing debt collection, Chen Wanxian can only delay as much as possible, "Don't worry, this is just a small adjustment. The general direction of Hong Kong's economy is still good, and the stock market will definitely rebound tomorrow."
"I don't care, I want to see the money tomorrow. Otherwise, just wait and see." The person from the underground bank threatened.
"Mr. Chen, if you cannot provide new collateral tomorrow, we will have no choice but to sell your stocks." The bank manager also said.
Chen Wanxian was exhausted mentally and physically for a while, and could only place his hope on tomorrow's stock market, hoping to achieve a desperate rebound.
…
For this reason, he stayed up all night and observed the trend of international stock markets all night long.
On the 20th, after the opening of trading in the United Kingdom, France, the Netherlands, Belgium, and the United States, stocks continued to fall, with no sign of stopping the decline, and even fell more sharply than yesterday.
Chen Wanxian couldn't help being shocked and angry, and almost had a heart attack.
Seeing this, he can only hope that Hong Kong stocks can create miracles after the market opens tomorrow.
As a result, the Hong Kong stock market did not open until half past nine.
Just when everyone was stunned, the chairman of the Stock Exchange finally stood up and announced that starting from today, the Hong Kong stock market will be suspended for four days.
He had two reasons. One was to provide investors with a calm environment; the other was that the trading volume yesterday was too large and many stocks had not had time to be settled, so the brokerage houses were allowed to handle these transactions during these four days.
Although the two reasons are high-sounding, because the Hong Kong stock market is the only one among all the stock markets in the world that has announced a suspension, it naturally attracted a lot of criticism.
Especially those overseas hot money and investors like Chen Wanxian who are eager to sell and cash out are strongly opposed.
Because once the market is suspended, Chen Wanxian cannot sell and cash out.
Moreover, the market has been closed for four consecutive days, including Saturday and Sunday, and the market cannot be reopened until next Monday, which will take a week.
No matter whether it is a bank or an underground bank, they will never give him such a long time.
Perhaps, the killers sent by the underground banks are on the road at this time.
Thinking of this, Chen Wanxian lost all hope.
Everything is over, everything is too late.
"If I had known this, I should have listened to that bastard, and I wouldn't have been as frustrated as I am today." Chen Wanxian thought to himself, then took off his belt and hung it on the chandelier in the study room.
…
"I just received the news that Chen Wanxian hanged himself." Chen Taotao came to Xiang Nan and told him about it.
Xiang Nan was stunned for a moment, then sighed.
Although he knew that greedy people like Chen Wanxian were destined to not end well.
But dying so soon was beyond his expectation.
"Don't be too sad." Xiang Nan then gushed to Chen, "You've done your best."
Chen Taotao shook his head, "Originally, I really didn't have much affection for him. He didn't recognize me as his son at all and never called me. But now that he is dead, I still feel a little sad."
"It's not surprising. He is your father after all." Xiang Nan nodded and said, "After losing him, your only blood relatives in this world are gone. I have heard a saying that if your parents are alive, there is still something to come in life. When my parents go, there is only one way home left in my life.”
Hearing what he said, Chen Taotao's eyes turned red.
Although Chen Wanxian never recognized his son, he was still his biological father and son after all, and the feeling was just different.
"I suggest you marry Tingting as soon as possible. Then you can have a lot of children. In that case, you will have your own blood relatives and someone to rely on." Xiang Nan advised, "Otherwise, you will always be alone. I feel adrift and without any bonds.”
Chen Taotao heard this and nodded.
After Chen Wanxian died, he felt that the world was vast but he had nowhere to turn to. Without my parents, I feel like a wandering soul floating in the world without a place to stay. It's time for him to find a refuge for himself.
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2197【Desperate】Free reading.
