At the end of Chapter 197, the decisive battle in October

In October, the Hang Seng Index opened 153327 points, slightly higher than its close at the end of September.

The agent sitting in front of the computer was obviously staying in the air-conditioned room, but fine beads of sweat oozed from his head.

He turned his head, glanced at the poplar sitting on the sofa, and whispered, "Thank God, it finally stopped falling, and it looks like there will be a rebound this month." ”

Populus didn't squeak, and he couldn't see the numbers on the computer screen from his angle, but there was a large screen on the wall that allowed him to grasp the changes in the index.

To be honest, he doesn't have much research on Hong Kong stocks, and he doesn't have much memory in his head. But indices are different, you don't need to remember hundreds or thousands of individual stocks, you only need to know one number.

Half an hour after the opening of the session, the index fluctuated so little that there was hardly any change to be seen.

"Ascended, ascended"

Half an hour later, the index began to slowly rise upward, and the broker habitually whispered.

Hu Yang looked at the big screen on the wall, and the index went all the way up, and finally reached 1524265 o'clock.

"Hey, why don't you move sideways, this is weak to rise."

When the agent looks at the market, he has a bad habit and likes to talk to himself. But Hu Yang doesn't care, he has seen more traders with bigger problems, and he doesn't have many people with the surname Yu.

"Listen, immediately open a short position at 15,100 points, the amount of which is 26,000 lots. ”

Hu Yang did not hesitate, and at the moment when the index rose weakly, he placed a trading order. In other words, Populus euphratica is bearish on the market outlook, and at the same time, it is also short the Hang Seng Index.

“ok”

At this time, the agent showed a high level of professionalism. He didn't say a word of nonsense, his fingers flew like flying, and almost as soon as Hu Yang's words fell, he began to type in the content of the transaction.

In less than a minute, the order is placed. The index soon turned around and fell to 15,100 points.

"Okay, please worry about Mr. Yu lately. If I do well this month, I'll definitely show something. ”

Hu Yang then got up and left East Asia Securities.

This time, Hu Yang had planned to convert all the US dollars on Huijia's trading account into Hong Kong dollars and then transfer them into a margin account.

However, he communicated with East Asia Securities, and the other party promised that the funds within 300 million Hong Kong dollars could be financed at any time, but Hu Yang guarantee or two-way financing was required.

Hu Yang calculated that the financing cost of the securities company was about the same as the interest on ultra-short-term bank loans, so he didn't bother to exchange them back and forth, and directly lent the US dollars in his hand to East Asia Securities as short-term financing.

After all, the business of East Asia Securities is not limited to Hong Kong stocks, they also have external market business, which also needs to be settled in US dollars.

26,000 Hang Seng Index futures contracts, with a total value of 196.3 billion Hong Kong dollars, according to a margin of 10, is 196.3 billion Hong Kong dollars.

At present, Hu Yang's margin account has its own funds of 193.9 billion Hong Kong dollars, and the shortfall is only 24 million Hong Kong dollars.

"Fortunately, I borrowed 100 million Hong Kong dollars before, and it would be useless if I raised too much. ”

The short-term financing cost of HK$100 million is about HK$500, i.e. monthly interest5. At the same time, East Asia Securities raised $40 million from Hu Yang with a monthly interest rate of 325, which means that Hu Yang has an interest income of $1.3 million a month.

1.3 million US dollars, which can be exchanged for about 10.06 million Hong Kong dollars. Therefore, Populus euphratica did not suffer much in terms of interest.

As for the interest rate difference, there will definitely be one, otherwise the securities company will make some money, right?

It was also in October that the Hang Seng Index began to fluctuate violently, and people began to worry about whether the stock market would crash like it did in the 80s.

The Hang Seng Index soon fell below 15,000 points, and then, in a panic mood, it fell below 14,000 points.

"Hello, Mr. Hu. Now the Hang Seng Index continues to fall, and some analysts believe that the index will usher in a retaliatory rebound after falling below 13,000 points. Plls, do you need to clear your position around 13000 points"

The stockbroker thought about it for a long time before he cautiously made a phone call to Hu Yang. In the past few months, he has made a suggestion to Populus euphratica for operation.

Of course, he is also kind-hearted, if it weren't for the fact that Hu Yang had earned him a considerable commission before, he wouldn't have bothered to bother with this idle matter.

"Well, thank you, Mr. Yu. You'd better wait and see, and wait for my instructions. ”

Populus euphratica is confident, and the Hang Seng Index contract in October 1997 is a very famous classic case in history. He believes that it will not be long before the trend of the Hang Seng Index will refresh the three views of all investors

"12000 Points"

"11,000 points"

"Oh my God, the Hang Seng Index is about to fall below the 10,000-point mark. ”

In the following days, the trend of the Hang Seng Index in October, I don't know how many long positions were blown up. All the way down, there was almost no decent rebound on the way, and it was directly approaching the 10,000-point mark.

"Mr. Huhu, do you want to sell it now?"

The broker only felt that his mouth was dry, and he felt that when he reached this point, it should be about the same, and if he was greedy, what if the index began to rebound

"Well, let's wait and see. ”

Hu Yang's command was the same as always, and even his tone did not fluctuate.

The agent's brain began to go a little numb, and it was difficult for him to understand what this Boss Hu was thinking.

The market really "lived up to expectations", and the Hang Seng Index fell below the 10,000-point mark.

There is a wail in the market, and at this time I don't know how many people are on the verge of collapse.

"Mr. Yu, listen, clear the warehouse at 9,000 points. Remember, after this order, you have to keep your mouth shut, and you can't leak any news related to me, understand, of course, I won't treat you badly, and when this matter is over, you can come to me. ”

When the Hang Seng Index fell below 10,000 points, Populus euphratica came to Xiangjiang again. During this period, he came to build a warehouse, and then stayed in Yangcheng.

Now that he has appeared in Xiangjiang again, it means that it is time to put an end to it.

The Hang Seng Index plunged more than 10,000 points, but soon fell below 9,000 points, until it fell to 877588 points, before it stopped the decline and began a small wave of rebound. In the end, the Hang Seng Index closed at 1062378 o'clock in October, a rollercoaster-like market that kept many people awake at night, and years of investment wealth were wiped out.

Hu Yang's Hang Seng Index futures contract was completely cleared at 9,000 points, achieving a key victory.

From the time the Hang Seng Index opened a short position at 15,100 points to the time when it was sold at 9,000 points, Populus euphratica actually earned 6,100 points on the index.

Each point of the index is 50 Hong Kong dollars, and Hu Yang bought 26,000 index futures contracts, 61002600050 79.3 billion Hong Kong dollars.

In the most crucial battle in October, Hu Yang won a big victory, making a profit of HK$79.3 billion.

After the settlement, Hu Yang repaid 100 million Hong Kong dollars and 5 million Hong Kong dollars in interest at East Asia Securities. After deducting commissions and handling fees, the final balance of his margin account was HK$984.9 billion.

"Mr. Hu, it's a pity why you don't continue to do it. ”

Manager Niu personally went out to keep Populus euphratica, but the other party had made up his mind, but he still couldn't keep it.

Hu Yang transferred all the funds back to his bank account, while also recovering $40 million in US dollar financing and $1.3 million in interest income from East Asia Securities.

Currently, Walkers has $46.3 million in its USD account and HK$984.9 billion in its HKD account.

Without any hesitation, Hu Yang converted almost all of the Hong Kong dollars into US dollars. The current exchange rate is 773, that is, 1 US dollar to 773 Hong Kong dollars, so the Hong Kong dollars in his hand were exchanged for 127.4 billion US dollars, and the remaining 980,000 Hong Kong dollars were transferred to his bank card.

Well, the boss also needs to pay the salary, and let the accountant do the accounting.

The total cash in the dollar account was 1,320.3 billion US dollars, and it happened that Hu Yang's yen loan had also matured.

At present, the exchange rate of the yen against the dollar is 130, and it took 415385 million dollars to exchange it for 5.4 billion yen, and the balance on the account became 127.8 billion and 76.15 million US dollars.

In fact, the yen has depreciated a lot against the dollar in the course of a year, and there is still a surplus of the foreign exchange surplus of Populus euphratica after the interest on the loan has been repaid.

Borrowing yen to repay the yen, Populus took advantage of the depreciation of the yen, not only did not pay a penny of interest, but also made a small profit. This loan is a good deal.

As for Sumitomo Mitsui Bank, they have nothing to lose. The loan and interest are recovered, and the exchange rate is another matter, and it has nothing to do with the loan itself.

"Mr. Yu, thank you for your dedication in the past few months. There is a cheque for HK$100,000 and a non-disclosure agreement. I hope you'll keep your mouth shut, and take this money as your reward. ”

The agent surnamed Yu really came to Hu Yang, and Hu Yang was not stingy and made a move of 100,000 Hong Kong dollars, but asked the other party to sign a confidentiality agreement.

The agent signed it with little hesitation and slipped the check into his pocket.

"Mr. Hu, will you not do it again in the future?"

Before going out, the agent asked reluctantly.

"I won't do it in the short term, and as for the future, I'll talk about it then. ”

Hu Yang smiled, did not give the other party a positive answer, and then asked Han Wen to send the guest out.

At this point in time, a large amount of arbitrage funds have poured into Xiangjiang. Just like this October, the reason why the Hang Seng Index market fluctuated so violently was that in addition to the economic situation in Southeast Asia as a whole was not very good, there were also a large number of foreign hedge funds, which had an impact on the foreign exchange market and the stock market.

"Hehe, at this stage, these arbitrage funds are the most active and crazy time. However, the Battle of the Hang Seng Index is no joke. At most, everything will be clear until next year. These unbeatable funds are destined to sink in the sand of Xiangjiang. ”

At present, the Hong Kong Monetary Authority has not yet taken action. But Hu Yang knows that the authorities will not let all kinds of money wreak havoc on Xiangjiang, and one day they will be taught a profound lesson.

Therefore, Hu Yang decided to take it when it was good, and did not intend to repeatedly arbitrage in the Hang Seng Index futures market.

It's just that the large amount of money in Huijia's trade account cannot be directly transferred to the mainland. After all, on the surface, Huijia Holdings and Xiangjiang Huijia Trade have nothing to do with each other. If you want to transfer this money, you have to find a name, otherwise it will not be right, and someone will suspect that you are laundering money.