Chapter 508: Stock Market Crash
Jurassic Park's push for cinematic technology is unparalleled, not only showing the world the magic of computer stunts for the first time, but also pioneering the introduction of the concept of digital sound, making the cinema feel more real and exciting for the audience!
Spielberg has been a dinosaur fan since he was a child, and he was a little caught up when he first saw the script for "Jurassic Park." But it took two months of negotiations between Asia Pictures and his team to finally reach a compromise on various interests!
In order to be able to invest more money in the special effects of the film, Spielberg converted all his directing fees into investments, and will use the box office to share the income from the film. If "Jurassic Park" can exceed $1 billion at the global box office, Spielberg can get up to $250 million in revenue from the film!
However, Spielberg's main task this year is to complete the post-editing of "Empire of the Sun" first. Therefore, the "Jurassic Park" project will not officially start preparations until February next year. However, some preliminary work has already begun, such as Spielberg, who is still not satisfied with the existing script. he
Two Hollywood gold medal screenwriters were specially invited to revise the script to make it more in line with the values of the American market! And Asia Pictures has no objection to this, and the company has given Spielberg great trust and power in the production of the film!
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And just when Spielberg signed his name on the director's contract for the "Jurassic Park" project, the Hong Kong stock market ushered in a serious stock market crash!
After entering October. Li Xuan has been wondering whether the stock market crash in Hong Kong stocks in 87 years will still break out, after all, his impact on this time and space is changing the face of the world more and more!
Take the Hong Kong stock market as an example. Hongkong Land, the most important blue-chip real estate stock, has been successfully privatized by Li Xuan and others and delisted. And the Oriental sector, which now occupies an increasingly important position in the Hong Kong stock market, simply does not exist in another time and space!
On Monday, October 19th, the sky in Hong Kong was clear! Most Hong Kong citizens started their journey to work in the new week as usual. But as soon as the clock passed ten o'clock, the BP machine on the waist of countless people began to ring non-stop!
Many people click on the information after the first glance. I can't help but change color slightly. As soon as trading began at 10 o'clock, there was a strong wave of selling. All blue-chip stocks opened several levels lower, while second- and third-tier stocks fell even harder.
The whole market is flooded with selling orders. Less than fifteen minutes after the market opened, the Hang Seng Index had already fallen by 120 points!
"What the hell is going on?" is a phrase that all shareholders are muttering.
Before the opening of today's trading in Hong Kong's capital market, there was no bad news. If there is only negative news, it is that the US stock market plunged last Friday. But the news went through a weekend of buffering. There should not have been such a severe shock. At least the Sydney stock market, which opened before the Hong Kong stock market, did not see any movement. But Hong Kong stocks panicked as soon as they opened!
"Li Sheng, today's Hong Kong stocks are a little abnormal, and if this continues, it may lead to a serious market panic, which will trigger a larger-scale stampede!" Zhuang Yuhai also shook his head a little confused and said.
When the stock market just changed, Zhuang Yuhai also allowed traders to buy on dips. Because according to his analysis, Sino-British relations have been very good recently, and Hong Kong's economic data for the first seven months has also been booming, and Hong Kong stocks should continue to strengthen in the future.
But after the Hang Seng Index continued to fall. Zhuang Yuhai has stopped all buying transactions. As for whether to take advantage of the trend short, Zhuang Yuhai is still a little hesitant. Therefore, it is rare for big bosses to visit the headquarters of LH Fund. What I saw was the scene of everyone doing nothing, which naturally made Zhuang Yuhai a little embarrassed!
Of course, the atmosphere in the office area is actually very solemn, and everyone can't feel relaxed when they experience such a serious plunge in Hong Kong stocks! Of course, Li Xuan will not say that he guessed in advance that a stock market crash might break out today, so he specially rushed over.
"Ah Hai, what do you think is the reason for the stock market crash today?" Although Li Xuan remembered that there was a "Black Monday" in 87, the specific reasons for the stock market crash were not clear, after all, he did not study finance in his previous life.
Zhuang Yuhai still has many mysteries in his heart, but since the boss asked, he immediately began to organize a language answer: "Since last year, the U.S. economy has begun to slow down after a round of rapid growth. The U.S. stock market peaked in August, plunging 5% on Friday, adding to expectations that the U.S. economy could face a recession.
Recently, the Federal Reserve's series of monetary policies are all aimed at curbing inflation by appreciating the US dollar, which has also directly led to a decline in the market's confidence in the Hong Kong dollar, which is pegged to the US dollar! In addition, the typhoon disaster in London last Friday made many securities practitioners in the financial city unable to commute to work normally, resulting in a large number of open trades not being delivered before the weekend, which also aggravated the market's uneasiness!
On Friday, Hang Seng pointed out that it had fallen more than 100 points near midday, but the market rebounded in the afternoon. So investors' confidence was actually greatly shaken at the end of last week, and the New York stock market, which opened later than Hong Kong, also plummeted on Friday, which exacerbated investors' panic and transmitted directly to the Hong Kong stock market on Monday!"
Although the reasons cited by Zhuang Yuhai objectively exist, his analysis can only be regarded as an afterthought! Because at least before the opening of the market, he and his team did not actually analyze the collapse of Hong Kong stocks based on this information.
"Johnson, the decline of the Hang Seng Index has narrowed, it should be that some brokerage houses have begun to close the goods, should we also follow up?" a trader reminded loudly.
Hearing this, Li Xuan couldn't help but look up at the large electronic screen on the wall, which kept refreshing the latest Hang Seng Index. In just a few seconds, the above number rose by another 0.1 points.
"We're investing for the long term. There is no need to take huge risks to enter the market because of a small profit! The panic in the market should not have passed, and it may continue to fall in the afternoon! Take advantage of the opportunity of the Hang Seng Index to rebound. Let's first clear a part of the stocks in the portfolio that have risen relatively well as soon as possible!" Zhuang Yuhai said very calmly.
Although there is no reason for the market to be bearish, Hong Kong stocks have plummeted. Zhuang Yuhai believes that changes in Hong Kong's securities market are likely to spill over to other markets in Asia. And if the stock markets of other countries also fall across the board, it is likely that the US stock market, which has not yet opened, will continue to plunge on Monday. This can easily cause a vicious circle, so Zhuang Yuhai conservatively chose to leave the scene for the time being!
The whole team quickly got busy again according to his instructions. Li Xuan did not speak out to affect Zhuang Yuhai's decision. Instead, he stood quietly like an outsider.
He did not leave the headquarters of the LH fund until after the stock market closed in the morning. The "87 stock market crash" still broke out very tenaciously in accordance with the inertia of history! Today is definitely a day that makes countless investors in Hong Kong want to cry without tears. If you want to make money from the stock market, you must be prepared to lose your capital!
In fact, this "Black Monday" also had some help for Li Xuan's next move! He accidentally discovered a message not long ago. Hong Kong's Independent Commission Against Corruption (ICAC) is launching a secret investigation into Hong Kong Stock Exchange Chairman Lee Fook Chiu.
Li Fuzhao is a very strong figure. After the merger of Hong Kong's four exchanges to form the Stock Exchange, most of the real power was firmly in the hands of his Far Eastern Department. And this is also not good news for Li Xuan, who has been hoping to promote the establishment of the Growth Enterprise Market of the Hong Kong Stock Exchange a few years ago to provide more convenient financing opportunities for emerging companies.
However, Li Xuan's plan has always been perfunctory by Li Fuzhao and has not been able to make much progress! Like him, there are also foreign-funded securities firms that are very dissatisfied with Li Fuzhao, and the right to issue new shares in Hong Kong stocks is in Li Fuzhao's hands, and this has also greatly harmed the interests of foreign-funded securities firms.
Especially as the 97 limit approaches, many British-funded companies are preparing to retreat. And Li Fuzhao became the biggest stumbling block for them to make a sum of money from the Hong Kong stock market before retreating.
Li Xuan believes in the ICAC's investigation of Li Fuzhao. In fact, the reason why Li Xuan was able to learn that the Independent Commission Against Corruption was conducting a secret investigation into Li Fuzhao was because he had originally planned to grab the other party's pigtails, so that Li Fuzhao would make concessions on the issue of establishing the Growth Enterprise Market.
"Li Sheng, the Stock Exchange previously said that it was ready to launch a feasibility study on the launch of the Hong Kong Growth Enterprise Market, I don't know where the Stock Exchange's research has progressed now?" Li Xuan specially asked Li Fuzhao to have dinner together, but the other party was obviously a little absent-minded.
The Hong Kong stock market plunged more than 10% yesterday, and New York time was more than a dozen hours behind Hong Kong, so investors across Hong Kong are paying attention to the situation in the New York stock market after the Hong Kong stock market ended trading. As a result, the Dow Jones Industrial Average plunged 508 points after opening yesterday evening Hong Kong time, the largest one-day drop in the United States in a century.
Under such an unfavorable situation, the Hong Kong Stock Exchange held an emergency response meeting early this morning and decided to suspend trading for four days, so that all investors can return to rationality! Li Fuzhao's decision has caused huge controversy in Hong Kong's capital market, with some people applauding and some even scolding!
"It is by no means a simple matter to create a completely independent and brand-new stock trading market outside the main board market! Not to mention that the confidence of the Hong Kong stock market is suffering a heavy blow, and now is not a favorable time to discuss the GEM!" Li Fuzhao said with a frown, he is not in the mood to discuss any GEM issues at all.
In the round of Hong Kong stocks yesterday's plunge, although the listed companies of Oriental Group, such as Asian Entertainment Holdings, Hong Kong Telephone, and Jiahua Bank, were also affected, the stock price fell not much, but became the last shelter for many safe-haven funds.
Li Fuzhao actually didn't sleep all night last night, and now he is cheering up to come to the appointment. And the reason why he came to meet Li Xuan was to say that this "God of Wealth Li" could stand up and cheer up the Hong Kong stock market and appease the panicked people.
"Li Sheng, I have a piece of information here, I think it is necessary for you to know!" Before Li Fuzhao could think about how to persuade Li Xuan, Li Xuan had already preemptively handed a document to him.
Li Fuzhao took the things handed over by Li Xuan with some disapproval, and was going to flip them at will. But he only glanced at it a few times, and his face turned grim. Li Fuzhao knows very well that the richest man in the world in front of him has been running for the establishment of the Growth Enterprise Market (GEM), but this document is not about this aspect!
The Independent Commission Against Corruption was secretly investigating himself, and Li Fuzhao was a little incredulous! He couldn't help but raise his head and take a deep look at Li Xuan, and what caught his eyes was a face full of warm smiles. But Li Fuzhao couldn't help but shudder, he didn't believe that "God of Wealth Li" would joke with such fake news.
"Li Sheng, you must be very aware that there are many British Yankees in Hong Kong who are very dissatisfied with you! Your move to order the suspension of the Hong Kong stock market this time is a bit too hasty, and this is likely to deal a huge blow to the credibility of Hong Kong stocks!
If Hong Kong stocks still fail to stop falling and rebound after resuming trading, you are likely to become the target of all investors! If it had been before, the ICAC's investigation of you might not have been a big deal. But once your reputation is damaged, they only need to grab any little pigtail and you will die!" Li Xuan said faintly.
Brokerages in the Hong Kong securities market can be broadly divided into two categories, one is Chinese-funded brokers, and the other is foreign-funded brokerages led by British and American investors. Foreign-funded securities firms have more abundant capital and channels, but under the suppression of Li Fuzhao, they have suffered a lot of dark losses in the Hong Kong stock market.
Li Xuan originally considered whether to unite with other opposition forces to bring Li Fuzhao off the horse! But if Li Fuzhao is completely overthrown, then Hong Kong's capital market will soon be controlled by HSBC, Goldman Sachs, Merrill Lynch, and other international investment banks, and this is not good news for the Oriental bloc!
As a person who has come over, Li Xuan naturally knows that Li Fuzhao's suspension of the market is definitely a big failure, and after Hong Kong stocks resumed trading, they ushered in a more violent decline. At that time, Li Fuzhao, the decision-maker, will naturally be under incomparably greater pressure from public opinion, and it is unknown whether he will be able to continue to sit as chairman of the Stock Exchange in the future.
The icing on the cake is not as good as charcoal in the snow, Li Xuan warned Li Fuzhao in advance, so that he would not be caught off guard by the Hong Kong government. And as long as Li Fuzhao is not imprisoned by the Independent Commission Against Corruption, even if he steps down as chairman of the Stock Exchange, he will still be able to maintain a huge influence on the Hong Kong securities market and delay the penetration of international capital into the Hong Kong securities market! )