In the afternoon of the same day, Song Bo sent the collected information to Xia Yu, and after Xia Yu browsed it, handed over the information to the think tank, and asked them to immediately start preparing, and came up with a preliminary plan at the meeting two days later.

Two days later, Song Bo arrived again, Xia Yu closed the door and held a secret meeting, and the preliminary plan was approved by him.

After the general direction was set, Xia Yu was ready to let his financial company secretly do it.

Just as he was about to leave, he received a phone call from Liu Tianci, and the slight mention of the information on the phone made him dispel the idea of going to Jiuding Securities Company and ordered Liu Tianci to come to his office immediately.

After hanging up the phone, Xia Yu thought for a moment, then called Wang Qi again and asked him to come to his office as well, and then he fell into deep thought.

More than 20 minutes later, Liu Tianci came in in a hurry.

"Chairman, I'm sorry I'm late. ”

After saying apologetically, Liu Tianci smiled and nodded at Wang Qi who got up.

"From Central to here, your speed is fast, sit down and talk!"

After motioning for Liu Tianci to sit down, Xia Yu also stepped down from the desk and sat down on the sofa.

He went straight to the point and asked, "God, what you mentioned on the phone just now, now I will talk about it in detail." ”

"Wang Qi, listen carefully, this matter is extremely important. ”

Xia Yu said to Wang Qi again.

Wang Qi rarely saw Chairman Xia Yu have such an attitude, he nodded heavily, raised his attention one hundred and twenty percent, his body was slightly forward, and he looked at Liu Tianci with burning eyes.

Liu Tianci thought for a while and said in detail: "Chairman, just this morning, the Xiangjiang Banking Association held a regular meeting, and all members were present, mainly to discuss how to deal with a series of negative effects brought about by the appreciation of the US dollar. ”

"According to market feedback, the interest gap between the Hong Kong dollar and the Eurodollar has reached three and a half percent, and the US dollar is still rising, the exchange rate risk has further increased, the outflow of funds from Hong Kong has been formed, and many Hong Kong capital has been transferred to overseas to carry interest, and the investment environment in Hong Kong has been deteriorating......

"HSBC proposes to raise interest rates by about one percentage point to hedge against the impact of the dollar's appreciation and eliminate interest rate spread......s as much as possible."

Hearing Liu Tianci's constant narration, Wang Qi's brows furrowed deeper and deeper, and he couldn't calm down in his heart.

If HSBC, as the note-issuing bank, is now proposing to raise interest rates, then other banks will definitely support it, which can reduce their risk.

A rate hike is an increase in interest rates, not only on deposits, but also on loans.

When interest rates increase, it means that the cost of borrowing increases, and the burden on those who are short of funds increases, and their borrowing needs are constrained, which increases their burden. Just depositing will increase the earnings.

Once all banks in Hong Kong raise interest rates uniformly, which can attract external short-term capital inflows and reduce or eliminate the deficit, then the bank's deposit volume will rise.

But!

Raising interest rates will increase the investment costs of manufacturers. When the interest rate level is raised, on the one hand, consumption will be reduced and savings will be increased, so that the supply of social funds will be expanded, and social output may be expanded. On the other hand, it may discourage investment, thereby reducing social output.

Even if the external funds flow back, most of them will go to the bank, and the existing capital in Hong Kong is so much, the more deposits into the bank, the less money put into the capital market for investment, then the trading volume of the stock market will decline, which is somewhat unfavorable for Jiuding Securities Company's investment institutions.

If the stock market funds are not well circulated, the stock market will fall if you are not careful!

......

After Liu Tianci finished speaking, Wang Qi asked impatiently: "Mr. Liu, according to what you just said, HSBC is only the first time to propose, do you personally think that the interest rate hike bill will be 100% passed?"

Liu Tianci pondered for a moment, nodded heavily and said: "Mr. Wang, I can't guarantee 100 percent, but in my personal opinion, 99 percent will be passed, and it will not take more than half a month, and the key now is the specific amount of interest rate hike." ”

Wang Qi's face sank, his brows furrowed, and his fists clenched subconsciously.

Xia Yu glanced at Wang Qi and said lightly: "Wang Qi, don't be entangled, in my opinion, this will happen 100%, you can't stop it, and there's no need to stop it." ”

It is no wonder that Xia Yu has this attitude, because he knows the true situation of the Hong Kong dollar exchange rate in Hong Kong, which has been pegged to the US dollar since 1972, but this link is knowledgeable.

At present, Hong Kong does not implement the linked exchange rate system, so although the Hong Kong dollar has always fluctuated with the US dollar at 4.6 to 1, it is not the fixed 7.8 to 1 as in later generations, so under this exchange rate system, the exchange rate of the Hong Kong dollar is free, but the uncontrollability and risk are also greater.

At present, there is no Monetary Authority in Hong Kong, only the Exchange Fund Authority and the Banking Supervision Office, and the power of the Banking Supervision Office is even less powerful than that of the Hong Kong Association of Banks, which was transformed from the Hong Kong Foreign Exchange Bank Association at the beginning of this year, because the power to issue notes in Hong Kong dollars is concentrated in the hands of HSBC and Standard Chartered Bank, and although the Hong Kong Government has the right to issue notes, it is only 10 percent.

However, the Exchange Fund Authority, due to the limited exchange rate system, does not have a particularly strong ability to control and intervene in foreign exchange.

Therefore, the Association of Banks of Hong Kong can take matters into its own hands, just like the Federal Reserve, to raise the exchange rate of banks, and then indirectly affect the exchange rate.

Then again.

Seeing that Wang Qi's brows were still not completely relaxed, Xia Yu continued: "Even if the Xiangjiang Banking Association does not make adjustments, then the interest rate spread will always exist, the capital will continue to flow out, and the capital flowing into the stock market will also decrease. ”

"The lesser of two powers. ”

"It is better for the whole of Hong Kong to raise interest rates by the Association of Banks than to be indifferent. ”

"Now it's all about how to deal with the coming bear market. ”

Bear market!!!

As soon as Xia Yu's words fell, Wang Qi looked at Xia Yu sharply, and asked a little nervously: "Chairman, do you think the stock market has peaked now?"

Liu Tianci also stared at Xia Yu, and he was also nervous, and his brain quickly analyzed why the chairman made such a judgment.

Will the consequences of the Association of Banks' announcement of interest rate hikes be so severe?

Xia Yu smiled lightly, did not answer Wang Qi's question, but asked rhetorically: "Wang Qi, where is the Hang Seng Index now?"

Without thinking, Wang Qi reported the amount of the Hang Seng Index after the opening of this morning: "One thousand eight hundred and thirty-seven points!"

Xia Yu asked again: "Do you think back to the situation in the past few years, is the current Hang Seng Index high or low?"

Wang Qi pondered for a long time, thought further, he felt that his mouth was a little dry, nodded and said: "It's already very high, even exceeding the peak of the stock market crash in 1973, creating a new record high for Hong Kong stocks!"

"But the chairman, although the enthusiasm for stock speculation is high now, the shareholders are not as crazy as in 1973, and after so many years of development, the capital market capacity of Xiangjiang has far exceeded before,"

He was the one who lived through the terrible stock market crash of 1973 and knew the madness of the stock market at that time.

There are some crazy phenomena in the market, such as "shark fin rice", stock investors quitting their jobs to speculate full-time, "abalone porridge", "making fish balls with rat spots", and "lighting cigarettes with big cows (HK$500 bills)".

There is also a joke among the people that there is also a stock exchange in the Castle Peak Psychiatric Hospital, which is designed for people who have lost their nerves due to stock speculation.

The Hong Kong government had to make excuses that the exchange had fire hazards, and dispatched fire to forcibly evict shareholders in order to cool down the stock market.

At that time, the Hang Seng Index reached 1,774.96 at its peak, and then fell to a low of 150.11 in nine months, a drop of 91.5 percent.

Although today's Hang Seng Index has surpassed the peak of the stock market crash in 1973 and created a record high for Hong Kong stocks, Wang Qi can be sure that although the market is hot, it is definitely not crazy!

Wang Qi didn't find out, not because he was incapable, but because there were many reasons for this bear market, and raising interest rates alone was not enough to crash the stock market.

Xia Yu knows very well that this bear market can be regarded as a policy market, and the interest rate hike has caused the stock market to fluctuate, but because of the future of Xiangjiang, it is an important reason for the market panic and the decline of the stock market.

In this life, due to his reasons, the changes are very large, for example, the current Hang Seng Index has exceeded the peak of the stock market crash in the previous life.

But Xia Yu, who has been watching the general trend, is not panicking, although the memories of his previous life cannot be fully trusted, but he is self-aware, and some things can be influenced, but there are some things that he cannot interfere with, such as the future of Taiwan Province and Xiangjiang.

What he deeply influenced was Xiangjiang, but what the mainland has been staring at is Taiwan Province, and Xiangjiang is a test field, which cannot be changed.

Xia Yu believes that the four-character policy of the future generations must be brewing, and the time of this life is not far away, and he will definitely be able to get the news in advance.

And with his energy, he can also hedge the negative impact, the key depends on whether he is willing to do it!

He had thought about actively stabilizing the situation in Xiangjiang before, but after returning from a period of time in the United States, he saw that the merger of the four institutes had not progressed for a long time, and he was not satisfied with the Xiangjiang stock market, which was full of loopholes and imperfect systems!

Xiangjiang is his old nest, and he also wants to make Xiangjiang an international financial capital, but now the Xiangjiang stock market is full of loopholes, and a rotten barrel with holes everywhere has to flow away even if it is full of golden sand!

The merger of the four institutes is to rebuild a new barrel, but the progress of this new barrel is too slow, and it will make a mistake!

Now that the Association of Banks is about to raise interest rates, the stock market is destined to fluctuate, and the key to whether it falls or rises depends on whether he interferes or not, and how he wants the stock market to go.

Now his attitude is obvious, he wants the Xiangjiang stock market to become bearish!

It's just that some things haven't happened, and he can't come up with supporting evidence, so it's inconvenient to say it to Wang Qi.

So he could only reply domineeringly: "Wang Qi, your analysis is also correct, but I need the Xiangjiang stock market to become a bear market!"

Wang Qi looked at Xia Yu dumbfounded, not knowing what to say.

Liu Tianci frowned and figured out Xia Yu's deep meaning.

After a long time, Wang Qi asked aloud: "Chairman, aren't you planning to start a war against the Swire Consortium?"

"Once the two of us start fighting, the stock market trading volume will skyrocket, this Hang Seng Index is rising, should be able to hedge the negative impact of the Association of Banks interest rate hike, how to open this bear market?"

PS: A pit was not filled and a big pit was opened, I checked the information for a night, and I learned a lot of things, one pit after another, all of them were pulled into the water, and I was excited when I thought of the plot behind.

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