Chapter 26: The Day of the Great Reversal (2, 2/3 for Xinghua, Taizhou, Jiangsu)
PS: Today's third shift is expected to be after 23 o'clock......
Since they never expected this situation, the CEOs of the four major brokerages were stunned for a few seconds, and when Ren Zhigang frowned again and asked, they agreed as if they had just woken up from a dream, "Do!"
If the government encounters such a good big customer, who has a reason to refuse? Not to mention the political status in the future, the commission income will be terrible. Moreover, Ren Zhigang only emphasized security, confidentiality and reliability, and did not bargain for handling fees at all, which means that he can collect money at the level of ordinary large customers, which is a great income.
After all, the Hang Seng Index position in August is as high as more than 90,000, even if one is only calculated at 330,000, there are more than 30 billion, and it is impossible to buy only Hang Seng Index futures, and more importantly, to buy stock spots, so the order of magnitude is more impressive.
But so far, they don't know that Beijing has promised Hong Kong that it will do its best to back it up, and the brokerages think it's just the Hong Kong government's handiwork.
Where does the Hong Kong government get the money?
As mentioned earlier, Hong Kong is a linked exchange rate system, and only 1 US dollar can be issued with 785 million Hong Kong dollars, and the Hong Kong government has huge reserves formed by the Exchange Fund.
Strictly speaking, this not only violates the principles of a free economy and market system, but also weakens the credibility of the Hong Kong dollar, because although the Exchange Fund has formed a huge amount of assets, it is essentially the collateral and issuance anchor of the Hong Kong dollar.
Under the gold standard system, how much gold and silver reserves were needed to issue as much currency, and why did the Nanjing Nationalist Government fail in the gold yuan bills? It was nothing more than misappropriating the gold and silver originally used for currency issuance for other purposes, and at the same time printing paper money indiscriminately, resulting in a total economic collapse. Yam's actions are a little better than the golden yuan: he does not issue paper money indiscriminately, nor does he divert it for other purposes, but simply turns foreign exchange into Hong Kong stocks – essentially a process of replacing foreign exchange with Hong Kong local assets as collateral and anchor for the Hong Kong dollar.
Of course, this is a risky one, but the only way to salvage the situation now is to do so, so this matter cannot be discussed in a big way, and can only be decided by the Chief Executive, the Financial Secretary, and a few people in the HKMA. Even the assistant to the chief executive of the HKMA, Yip Yode, who was directly in charge, did not receive any notice of discussion at all, and only learned about the task on the night of the 12th.
Originally, the Hong Kong government didn't want to act so quickly, but the sharp drop on the 13th, especially the constant rumors of "breaking 6,000 points" from the outside world, stimulated their nerves and made them have to act in advance.
The breakfast meeting lasted only half an hour and ended in a hurry, and everyone hurried back to prepare. The four bigwigs were asked to open a new mobile phone number dedicated to the line, and Bank of China International took the lead in vacating 10 terminals in one breath in accordance with the requirements to help the government buy, and explained that his subordinates focused on buying HSBC, Sun Hung Kai Properties and other 4 blockbuster blue chips that have a decisive impact on the Hang Seng Index.
As for who the buyer is, the brokerages have all taken confidentiality measures.
Fortunately, the Hang Seng Index is only an index that reflects 50 large blue chip stocks, so in the situation that comprehensive electronic matching has not yet been realized, the operation is relatively simple, if it is an overall index covering 1-2 thousand stocks, then spending money to buy can be exhausting!
On the morning of the 14th, Chang Tianhao stayed in front of the computer in advance, anxiously waiting for the verdict of fate, Xiaoqin stood next to him, also full of nervousness.
As soon as the Hong Kong stock market opened, as usual it inherited yesterday's inertia of the violent fall, opened with a gap of 6550, and hit 6510 in a few minutes, only half a step away from yesterday's 6505, and then a new low is almost no suspense, and yesterday part of the chassis also began to gush out.
But just when everyone was unanimously looking at the decline, it was as if a thunderbolt sounded on a sunny day, the situation suddenly changed, and the HKMA's order to "do something" was issued.
More than ten seconds later, Chang Tianhao witnessed the scene that he had only seen in news reports and media interviews in the past: the number of buy orders entered the market, and the stock buy orders piled up on the disk were swallowed up. Even the price is not careful, directly open 3-4 gears higher, and sweep with thousands of large orders.
When the government entrusts the market, there must be an indomitable fearless momentum, and the market has not yet reacted before it directly pulls up a step, if you are like an ordinary trader who cares about 1-2 gears, trying to save money, it will be crushed or dragged down by the rapid increase in singles.
Due to the sudden influx of this force, the Hang Seng Index rose from the ground like two kicks, starting to rebound from approaching the 6,500 mark, 6,600, 6,700, until it broke through 6,800 points, less than 1 hour passed.
The entire Hong Kong market is boiling, and the trading volume of the Hang Seng Stock Index, which usually only has more than 20,000 contracts a day, has been wiped out in an hour. All the uninformed financial traders were all confused, and they were asking one by one: Which international predator has killed the bottom? This method is also a bit fierce, right?
"It's up, it's up, it's skyrocketing, it's 6900 points!"
Chang Tianhao could still watch the plate rush forward more calmly, but Xiaoqin was shouting beside her, and the scene seemed to be happier than making money herself.
Brother Chao had been paying attention to other varieties all morning, but now when he heard Xiaoqin shouting like a gaffe, he couldn't help but turn around and look at it, and he was stupid at a glance: the cupola green column, the low volume, and even the decent adjustment, directly swallowed yesterday's big black candle.
"This ...... Is this an island reversal?"
"Brother Chao, I think you're right, it seems that the island shape is really reversed......"
"Reversed?" Gao Yang came in from outside, "I heard you yelling upstairs......
"Senior brother, it's reversed, look!"
Gao Yang looked at it, isn't it, the index is about to soar to 7,000 points...... Chang Tianhao's 20 good positions of 6535 established yesterday now have 450 points, a total of 450,000 Hong Kong dollars!
"Oh my God...... Senior brother, it's broken out, ah......"
"Hao Gongzi closed the position?" Xiaoqin reminded beside him.
Chang Tianhao shook his head: "I think it can go up again......"
Brother Chao also means this: "There is no decent adjustment at all, 7000 points will definitely exceed ...... But I wonder why? It doesn't make sense, who's going to buy it?"
Gao Yang looked at the graphics, thought about it carefully, and asked Chang Tianhao: "Senior brother, do you have any rumors?"
Chang Tianhao originally wanted to say "no", but when he raised his head and saw the flicker in Gao Yang's eyes, he changed his caliber slightly, "A little bit, in fact, I said it on Wednesday, and that's not exactly my personal idea." ”
Hearing him say this, Gao Yang didn't ask much, but said: "Then you guys keep an eye on it, I'll call Shenzhen to ask what's going on, it's too strange......
During the lunch break, the excited Hong Kong traders and behind-the-scenes bigwigs frantically inquired, and finally vaguely got some rumors, and more importantly, when the Hong Kong media asked the government, especially the Financial Secretary and the HKMA, they were told that "there is no need to worry, there will be a press conference after the market closes in the evening"
Although he didn't say a word, it basically showed that the speculation in the market was reasonable, and the news that Gao Yang heard was roughly the same, the only thing that was not clear was how strong and determined it was.
During the lunch break, Cheng Cheng was looking for information in the Planning Commission for the past two days anyway, and Chang Tianhao did not go to the library again, but went to several forums in Hong Kong with familiarity - at this time, Hong Kong's Internet development level is greater than that of the mainland, and rumors are flying all over the sky, but it is almost certain that they have also guessed the reason.
Noon is also the time for international speculators to discuss urgently, they quickly adjusted their methods, intending to use more selling to suppress the scene after the afternoon open, but this idea only lasted less than 20 minutes, and was fully supercharged by the four major brokerages who joined forces with the market, and Hang Seng Futures continued to climb tenaciously......