Hong Kong stocks have become the only stock market in the world that has been suspended in the stock market crash, the impact is quite huge, and it is normal for public opinion to question the rationale for the decision to suspend the stock exchange.

Li Fuzhao, chairman of the Stock Exchange, began to face pressure from the public opinion circles, but he still insisted that the market would not resume until next Monday, and believed that if the US stock market resumed hastily because of the rebound, would the US market be closed again if it fell again? He also believed that if the stock market had not been wisely decided to close on Tuesday, the stock market would have been full of corpses.

"Li Fuzhao is really hard-mouthed, so multimedia, financial people have questioned his decision to close the market, he still insists that he is not wrong at all, and he will not open until next Monday." Even the American financial newspapers are reporting on the suspension of Hong Kong stocks and the content of the interview with Li Fuzhao, chairman of the Stock Exchange.

After graduating from the University of Hong Kong, he studied at the University of Pennsylvania for a master's degree in business administration and obtained the qualification of an accountant. In 1969, he founded the Far Eastern Exchange and served as its first chairman. Last year, several exchanges merged, and he was elected as the first chairman of the Stock Exchange. Qiao Feng said mockingly.

"Although this is the case, but so rashly to suspend the market, it is really very undesirable, very inappropriate.

"Yes, this suspension is not only blamed by Hong Kong public opinion, but even European and American public opinion has criticized him, if the suspension of the market has indeed allowed Hong Kong stocks to avoid the limelight, and the stock market will improve after the opening of the market, it will be forgotten, but once the suspension of the market does not reach the expected goal, or even the opposite of the expected goal, then he will wait for bad luck, and someone will be responsible for this matter." Qiao Feng said helplessly.

"Will they still settle accounts after the fall?" Li Zhi asked, his eyes widened.

"Or what do you think?" Qiao Feng sneered.

"Then he's out of luck." Li Zhi sighed.

"It doesn't matter to us whether he is unlucky or not, the stock market in the United States has rebounded, all our transactions have been completed, and it is time to mobilize funds to return to Hong Kong."

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Financial Secretary Shak Cheng said at the Legislative Council meeting: The government believes that the decision to suspend the stock market for four days is very appropriate, and the government will not thoroughly investigate whether the incident involves personal interests. The Hong Kong government believes that this decision is fully in the interests of the community and investors.

They want to take advantage of the four-day market shutdown to clear the backlog of settlement in the stock market, keep investors calm, and most seriously, solve the crisis that the futures market is facing a collapse. Due to the importance and complexity of the issues involved, the Hong Kong government engaged Hambros Bank Ltd., one of London's major commercial banks, as an advisor.

Everyone is thinking in a good direction and working hard for good results.

But when the market reopens, everyone will change their opinions, and the previous boast will turn into hatred.

The 4 days of no shares and no market quickly passed. Every shareholder is in a bad mood, and everyone doesn't know what the market will be like on the day of the resumption of trading, and how they should face it.

In addition to experts saying that Hong Kong's economy is doing well and the stock market should not fall again, the Association of Banks has also lowered the prime rate by one percentage point to seven and a half percent, hoping to stabilize the market.

On October 26, 1987, a sunny day, all activities in society were as usual. Hong Kong's Central is also as busy as usual, and it has not faded due to the stock market storm, but everyone who walks in Central seems to have a sense of imminent disaster, especially the mood of shareholders at that time, which cannot be described in words.

The opening time of the day was 1 hour later than usual, 11 o'clock officially opened, there were only sellers and no buyers in the market, sellers jumped to sell, no one dared to enter the market to buy, blue chips were the first to have sporadic buying orders into the market, and the first price to buy was the highest price of the day.

Let Li Zhi say right, the stock price really ushered in another sharp drop on the resumption day, and everyone's expectations came to naught.

Fifteen minutes after the market opened, the Hang Seng Index had fallen 650 points, and the broader market fell nearly 900 points at 11:45 before rebounding slightly, but the Hang Seng Index was still down 845.04 at the end of the morning.

In the afternoon, the market did not improve, but worse, the market was full of wind, the investment sentiment was pessimistic to the extreme, the market entered the market, investors sold for the sake of selling, and the result was that the market fell by 1120.70 and closed at 2241.69, a total decline of 33%, setting a record for the world's largest single-day decline. The spot futures market is the fourth time to fall the limit.

This stock market crash was like the end of the world, the sky fell apart, Hong Kong shareholders mourned, and many flying people appeared on the roofs of many buildings that day.

Li Zhi asked Qiao Feng why he didn't operate in Hong Kong or the U.S. stock market, this is the reason, Qiao Feng knew how miserable the Hong Kong stock market would be, so he didn't dare to mix in the Hong Kong stock market, and he didn't even dare to go to the nearby stock market, and twenty funds were transferred out of Japan to the U.S. stock market to mix, what he was afraid of was that if the Hong Kong stock market fell worse in Hong Kong or the capital, it would be a heinous crime.

But even if he went to the U.S. stock market, he could see the news of the tragic situation in the Hong Kong stock market and the suicide of those stockholders, Qiao Feng's heart still tingled faintly.

On the evening of the 26th, the Stock Exchange held a press conference to explain the decision to suspend the market.

An Australian journalist questioned the legality of the decision to suspend the market and his personal interests.

Li Fuzhao, who had been under pressure for many days, couldn't help but explode, he was furious, pointed his index finger at the reporter, and struck the table with his fist, demanding an apology from the reporter, Li Fuzhao said: "This is malicious slander." "Tell me your name, and I want my lawyer to record it." "I'll give you a ticket right now. "Accuse him, take him to the police station, send him to the police station. ”

A senior staff member of the United Communications Department had advised Li Fuzhao to calm down, but to no avail, a group of reporters dragged the Australian journalist out of the conference room, and the press conference ended in a loud noise.

Then, the Hong Kong government announced a series of rescue measures, including waiving the restriction on listed companies buying back their shares, and the Exchange Fund, Jockey Club, HSBC and others all entered the market to buy stocks, hoping to take the lead.

And Qiao Feng, who made a lot of money in the U.S. stock market, also instructed Li Zhi to return to the Hong Kong stock market with a huge amount of money to participate in the rescue.