When large investors and retail investors saw that the main bulls had controlled the upward trend of the Hang Seng Index with their capital advantage, they also joined the rush to buy goods. Everyone was adding fuel to the fire, and the funds prepared by the main short sellers were exhausted. Robert and a group of traders I can only watch helplessly as the main bulls push up the Hang Seng Index regardless of the cost. They have sufficient funds and understand that they have failed, and they have failed miserably. They have returned the fruits of victory of more than a year to Xiangjiang with profits.
Stocks with a market value of nearly HK$40 billion were traded within 15 minutes before the market closed, setting a historical transaction record for the Hang Seng Index.
As the closing bell rang at 4 o'clock, the Hang Seng Index was finally fixed at 8120 points, and the Hang Seng Index futures was fixed at 8149 points. The total transaction volume for the day was 98.7 billion Hong Kong dollars.
Bang bang...
The yellow vests and traders on the trading floor of the Hong Kong Stock Exchange all stood up, applauded and cheered for a long time. They witnessed history.
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"Today, the closing point of the Hang Seng Index has increased by 1,460 points, or 21.92%, compared with August 13, before the HKMA entered the market; the Hang Seng Index futures is 8,149 points, which is 649 points higher than the average cost of the August futures contract of international speculators. In this battle to combat international speculators and safeguard the stability of the financial market in Hong Kong, the Hong Kong Special Administrative Region achieved final victory with the strong support of the Chinese government."
After the market closed, the Financial Secretary, Mr. Tsang, immediately announced the good news to domestic and foreign media.
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"Julian, it is impossible for the Hong Kong government to continue to protect the market. We will continue to short the September contract and recover the losses."
August 28 was a heartbreaking day for many international speculators led by Soros. The Hong Kong government responded to the speculators’ usual speculative strategies in the foreign exchange market, stock market, and futures market by treating them in their own way. body, and finally achieved a major victory.
The Hong Kong government pushed the Hang Seng Index from 6,660 points on August 13 to 8,120 points on the 28th, and the Hang Seng Index futures closed at 8,129 points, forcing international speculators to deliver the August stock index futures contract at a high level. International speculators bought nearly There are 100,000 August contract futures short positions, and the average point is 7,500 points. Even if they roll over, the cost is very high. Once the position is closed, huge losses are inevitable.
Soros and Meriwether, who were far away in Singapore, saw Director Zeng's speech immediately and hated the Hong Kong government. They bet that the Hong Kong government would not continue to protect the market and decided to transfer the August contract to the September contract and continue to short. Hang Seng Index futures September contract.
"Okay, George."
Robert was also full of resentment. They failed because the Hong Kong government violated the principle of non-interference in the market.
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"This time, with the strong support of the Chinese government, and through the joint efforts of many parties to defeat international speculators, the Hong Kong Special Administrative Region government would like to express special thanks to Mr. Sun Jian, chairman of htIc, for his great help. The Special Administrative Region government decided to award Mr. Sun the Purple J Medal."
At noon on the 29th, the SAR government hosted a banquet for two vice presidents from the Mainland, more than 100 local companies participating in the market protection, and the presidents and CEOs of 24 red chip companies. Mr. Dong delivered a speech at the buffet, thanking everyone for their solidarity. We share the same hatred and crush the conspiracy of international speculators to disrupt Hong Kong's financial stability.
Sun Jian attended the reception with Wang Dongming, Chen Huamin and Li Dong.
Wang Linbo, Guo Jingdong and Huang Hongqing of htIc Securities Company, Liang Zhongtao and Du William of Peregrine Investment Group, Gao Fuming and Liu Quanyou of Sanxin Real Estate Group were also invited to attend the reception.
We are all comrades in the trenches, sitting together and chatting happily.
Bang bang...
"Thank you, Mr. Dong, and the SAR government for granting me this honorable title. Xiangjiang is my home and I have the responsibility to protect her. Affected by the Asian financial crisis, Xiangjiang's economic difficulties are temporary. Xiangjiang's future will be more prosperous and stable. I We will continue to increase investment in Xiangjiang."
Sun Jian walked onto the stage, received the Purple J Medal from Commander Dong with both hands, and delivered a speech in Mandarin.
The Grand Purple J Medal is inlaid with 18K gold and 18K white gold. The pattern is a purple J held by stars. The purple J represents Hong Kong, a star represents China, and the red and gold ribbons symbolize noble honor.
The Grand Purple J Medal is the highest honor under the honors and awards system of the Hong Kong Special Administrative Region. It has been awarded since 1997 to commend outstanding individuals who have made significant contributions to Hong Kong society throughout their lives. The recipients must be permanent residents of Hong Kong.
Sun Jian lives in Deep Water Bay Villa and holds the title of Honorary Citizen of Hong Kong.
It controls htIc, Sanxin Real Estate Group, htIc Securities Company and Peregrine Investment Group, and also controls tcG, the largest market capitalization company in Xiangjiang. It plays a decisive role in the economic development of Xiangjiang, especially the acquisition of Peregrine Investment Group, which is on the verge of bankruptcy and liquidation, and the repelling of international speculators. , and made great contributions to maintaining Hong Kong’s financial stability.
Bang bang...
Local bosses such as Li Zhaoji, Li Jiacheng, Zhuang Siping, and Hu Yingxiang already know that Sun Jian spent nearly 70 billion Hong Kong dollars in cash to protect the market. In addition to being long the August contract of Hang Seng Index futures and protecting the market, tcG and htIc Securities Company In addition to stock prices, Sun Jian also purchased a large number of stocks of many Hang Seng Index real estate and banking companies. In this battle to fend off international speculators, the Hong Kong government spent 110 billion Hong Kong dollars. Sun Jian’s personal contribution was so great that Hong Kong locals The total number of more than 100 entrepreneurs is not as large as his own.
Sun Jian received the Purple J Medal, and his fame came with it.
"Although international speculators were repelled from shorting the August contract of the Hang Seng Index futures, the international speculators still did not give up. The international speculators transferred 70,000 lots of the August stock index futures contract to the September contract, betting that the SAR government would not be able to continue to protect the market. The Hong Kong government It will be announced that starting from August 31, it will stop using reserve funds to protect the market and allow Hong Kong's stock market and stock index futures market to return to normal trading conditions."
The Financial Secretary, Mr. Tsang, took the stage to deliver a speech.
International speculators short-sold the August contract into the September contract, which means that the speculators short-sold the September contract in large quantities while closing their positions in the August contract.
Most people at the scene looked surprised, especially those who bought the bottom yesterday. Once the Hong Kong government stops protecting the market and profit and settlement orders pour out, international speculators take the opportunity to suppress the Hang Seng Index. The Hang Seng Index will surely plummet next Monday, and everyone will suffer heavy losses.
Wang Dongming and others looked at each other, showing worry, but when they saw that Sun Jian beside him didn't change his expression at all, he already knew the news.
On August 12, following the instructions of Sun Jian and Wang Dongming, Chen Huamin bought the near-hand Hang Seng Index futures August contract near 6,700 points of the Hang Seng Index with HK$500 million and 10 times leverage. As of yesterday's delivery date, it closed at 8,149 points. , earned 1,449 points, and made a profit of HK$1.053 billion (excluding transaction fees).
In 12 trading days, Mr. Sun was the big winner in the August contract of stock index futures!
"But colleagues don't have to worry. In order to ensure that Hang Seng Index futures and options are traded in a fair and orderly manner and to reduce the chance of the market being manipulated by international speculators, the Hong Kong Futures Exchange will launch three new measures this afternoon."
