August 27th.
The bull camp, led by Hong Kong Financial Secretary Zeng and the Hong Kong Monetary Authority President Ren, will maintain or expand yesterday's victory of the Hang Seng Index closing at 7834.4 points, leaving more room for defensive counterattacks in tomorrow's decisive battle and seizing the initiative in the decisive battle; with Quantum Fund The short camp headed by President Soros, Tiger Fund President Robert, and Ltcm President Meriwether aim to push the Hang Seng Index below 7,500 points. The lower the better, laying a solid foundation for tomorrow's decisive battle.
7,500 points is the cost price of international hot money holding 100,000 Hang Seng Index futures August contract short orders!
At 9:25 am, a war without gunpowder officially started at the Hong Kong Stock Exchange.
The Hang Seng Index opened at 7840.95 points, opening 6.55 points higher. The bulls took the lead and gave the bears a head start.
At 9:30, the shorts did not give the bulls a chance to continue to expand their gains. The surging selling orders fell from the sky like a mountain, driving the Hang Seng Index to 7834.4 points, sealing today's gap. The shorts were full of momentum, and they let go if they had the guts. come over?
The long and short sides only fought for 10 minutes, and the transaction volume reached 5 billion Hong Kong dollars. You sold and I bought, you smashed the market and I took it. Gradually taking the initiative on the market, 15 minutes before the market closed, the battle entered a fierce state, with a turnover of more than 20 billion Hong Kong dollars.
The Hang Seng Index closed at 7922.97 points, an increase of 88.57 points, or 1.13%. The closing point was also the Hang Seng Index's closing high since November 4 last year.
While the bulls clung to the Hang Seng Index, they pushed the August contract of Hang Seng Index futures in the futures market to 7,990 points, 1,200 points higher than before the market protection.
Today, the Hong Kong government spent HK$40 billion entrusted to 10 securities companies including Peregrine Securities, HSBC Securities, Standard Chartered Securities, Sun Hung Kai Securities, htIc Securities and BOC Securities. On more than 200 trading terminals, tcG, HSBC Holdings and On the three most important Hang Seng Index constituent stocks such as Cheung Kong Holdings, short sellers have been pursued and intercepted...
After the market closed, Director Zeng and President Ren finally breathed a sigh of relief and became more confident in tomorrow's decisive battle.
After the market closed, some newspapers published stock reviews from financial experts, saying that the Hong Kong government used too much funds to protect the market today. Although the fruits of victory were preserved, international speculators did not use their full strength today, and it is still unclear who will win.
Many parties used the efforts of the whole Hong Kong to barely win. If international speculators increase short-selling funds tomorrow, people will worry about whether the Hong Kong government can hold on?
On the night of the 27th, investors in Xiangjiang had sleepless nights.
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After the market closed on the 27th, Druckenmiller, chief investment strategist of the Quantum Fund, first admitted in an interview with cNbc that the Quantum Fund had been short-selling the Hong Kong dollar and the Hang Seng Index. Due to the economic recession in Hong Kong, the Hong Kong government on the 28th, in the foreign exchange market In the decisive battle with the stock market and international investors, it is destined to end in failure.
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August 28, today is the settlement day of the August contract of Hang Seng Index futures!
Large investors and retail investors in Xiangjiang knew early on that the US Dow Jones Index closed down 357.36 points overnight, or 4.19%. The trading volume increased by nearly 40%, and the heavy volume plummeted. Their emotions were greatly affected, and they were even less confident in today's decisive battle. Early We came to the business hall and the main office, anxiously waiting for the opening of the stock market and futures market.
"Mr. Sun!"
…
At 9:00 in the morning, Wang Dongming, Chen Huamin, and Li Dong accompanied Sun Jian into the htIc Institutional Room of htIc Securities Company. Executives such as Wang Linbo, Guo Jingdong, and Huang Hongqing greeted them at the door. Mr. Sun, who had never seen the dragon, came to the company in person today, and brought With the arrival of a huge amount of HK$30 billion, everyone's confidence doubled and they were excited.
The final decisive battle of Xiangjiang's financial defense war is about to begin. This is a decisive battle between Xiangjiang and mainland capital and Wall Street capital on the Hang Seng Index futures August contract. As a participant and witness of this important historical event, They feel extremely lucky and honored.
"Minister Li, your task today is to raise the stock price of tcG to HK$130 and the stock price of htIc Securities to HK$15 before the market closes, so as to use up all the unused repurchase funds."
With victory in hand, Sun Jian is not worried at all. The one-day trading volume of the Hong Kong Financial Showdown on the 28th in his previous life reached a record high of HK$79 billion. Now with him on the scene, htIc still has more than HK$50 billion in its special account.
Quantum Fund is not registered with the U.S. Securities and Exchange Commission, but is registered offshore in Curacao. The fund is established in New York and mainly raises funds through private placement. Its investors are all non-U.S. foreign investors, thereby avoiding the United States. Regulation by the Securities and Exchange Commission.
Quantum Fund is one of the five hedge funds operated by Soros. It borrows money from foreign investors and invests in stocks, bonds, foreign exchange and commodities around the world. By the end of 1997, the total assets of Quantum Fund were as high as nearly 60 billion If necessary, we can use leverage and other financing methods to obtain an investment effect equivalent to tens of billions or even hundreds of billions of dollars.
Quantum Fund’s nearly US$6 billion in capital is considered a large fund in this era. Generally, small private equity funds in the United States are only about US$200 million.
In China, on March 18 this year, ICBC became the fund custodian bank for the upcoming Kaiyuan Securities Investment Fund and Jintai Securities Investment Fund. The issuance scale of the two large securities investment funds is 2 billion yuan, which is only a fraction of the Quantum Fund!
If Quantum Fund can enter the Penghu stock market...
On August 17, Russia publicly announced that trading in the government bond market would be suspended before the end of the conversion of foreign debt into government bonds. European and American investors were dumbfounded! International hot funds such as Quantum Fund, Tiger Fund, and Ltcm, which wanted to cut Russia's leeks, were all trapped in the Russian stock and bond markets. Soros and others lost the opportunity to use leverage financing.
In the battle to defend Xiangjiang’s finance, Soros and others will be defeated!
History has proven it!
Now there is Sun Jian, the world’s richest man!
Beat up the drowned dog!
Taobao Holdings and htIc will tear a big piece of flesh out of Soros's body.
"Okay, Mr. Sun!"
Li Dong was excited. They would influence the closing prices of tcG and htIc securities companies, and they would be included in the historical records of the Hong Kong securities market. What an honor this is?
Since Taobao Holdings and htIc announced on August 15 that they would invest HK$22 billion and HK$3 billion respectively to repurchase the shares of tcG and htIc Securities, the maximum repurchase price for tcG would not exceed HK$13 billion, and the repurchase price for htIc Securities would not exceed HK$13 billion. The company's price does not exceed 15 Hong Kong dollars. Institutional investors and retail investors of the two companies rejoiced and entered the market one after another to spread the cost of holding. Under the crazy pressure of short-selling funds, many parties protected the market. The stock price of tcG did not fall but rose. Yesterday The stock price closed at HK$123.45 and htIc Securities Company's stock price closed at HK$14.23, an increase of HK$12.69 and HK$0.72 respectively from before the announcement.
Taobao Holdings and htIc have consumed less than 50% of their committed repurchase funds.
