Not a Hong Kong dollar, never a Hong Kong dollar.

The real target of Fund X and international financial speculators has never been - Hong Kong dollars!

Yes, you read that right!

Regardless of the fact that Fund X and international financial speculators have invested so many troops in the "foreign exchange battlefield" and fought so fiercely with the Hong Kong financial authorities, their targets have never been the Hong Kong dollar and the foreign exchange market.

All this is just a trick, and it is all just a feint, so to put it bluntly, this time the Hong Kong financial authorities have indeed been severely slammed.

The foreign exchange market, which the Hong Kong monetary authorities believe should be protected, is actually just a façade, and the real target is - Hong Kong stocks!

Yes, it is the Hong Kong stock market, and this is the final main battlefield selected by Su Chenyu.

As an important financial center in the world, Hong Kong's financial strength is definitely not comparable to those "rookies" in Southeast Asia. You must know that Hong Kong's foreign exchange reserves are quite abundant, and although they are not as perverted as the more than $300 billion of Wanwan's "capitulation faction", they are also a strong force.

Therefore, Thailand, Malaysia, the Philippines and Indonesia, the bullshit "Asian Tigers", are really not even bullshit in front of the "Asian Tigers" like Hong Kong and Wanwan. It is no exaggeration to say that the foreign exchange reserves of the "Asian Four Little Tigers" are really not qualified to be promoted in front of Hong Kong.

This is also the reason why Fund X and international financial speculators choose to slaughter these Southeast Asian "rookies" on the "foreign exchange battlefield"? It's very simple: just your little foreign exchange reserves, who will you do if you don't do it? Moreover, it is simply effortless to abolish the currency and foreign exchange market and then take advantage of the trend and go straight to the stock market, bond market, and property market.

In fact, the bloody lessons have indeed proved how correct the choice of X Fund and international financial speculators is!

In this way, it has created an illusion for Hong Kong's financial authorities that these financial speculators like to focus on cracking down on the foreign exchange market, hitting the local currency hard, and then harvesting other markets.

Therefore, after analyzing the war situation in Southeast Asia and South Korea, the Hong Kong financial authorities believe that the first choice for international financial speculators to attack Hong Kong is the Hong Kong dollar. As God wishes, things have indeed developed according to the analysis of the Hong Kong financial authorities, and international financial speculators have really taken the lead in attacking the Hong Kong dollar and Hong Kong's foreign exchange market.

As a result, when the Quantum Fund sold its first US$6 billion Hong Kong dollar in the foreign exchange market in London, Financial Secretary Donald Tsang and the Secretary General of the Hong Kong Monetary Authority, Joseph Yam, decided to protect the Hong Kong dollar on the spot.

Subsequently, as was the case, international financial speculators continued to invest heavily in the "foreign exchange battlefield", defeating the Hong Kong financial authorities. In the end, the Hong Kong Monetary Authority (HKMA) made a "big move" - raising short-term interest rates, supporting the Hong Kong dollar and the exchange rate market, and striving to maintain the linked exchange rate system.

In the face of the constant attacks of international financial speculators, the Hong Kong financial authorities have raised short-term interest rates four times in a row, completely falling into the trap set by international financial speculators.

You must know that Hong Kong's property market bubble is quite serious at this time, more than 9 times compared to 12 years ago, what a big bubble. This is also the reason why SS real estate companies such as Suning Real Estate and Landmark Group continue to sell real estate projects - this bubble will burst sooner or later, and it is Su Chenyu who will burst it himself.

Not only that, Hong Kong stocks were still at a relatively high level at this time, which also gave Su Chenyu the reason to give up the foreign exchange market as the "main battlefield" and choose the stock market.

Therefore, such a high interest rate is completely "looking for death"!

So do Donald Tsang and Yam know the huge risks behind this? They must know, but there is no way, in that case, they can only choose to protect the Hong Kong dollar. So, even if they know that raising short-term interest rates is tantamount to quenching their thirst, the Hong Kong monetary authorities have to do so, and they are betting that international financial speculators will not make a detour to the Hong Kong stock market, after all, they have already invested so much in the exchange rate market.

In other words, if Su Chenyu was sitting in the seats of Zeng Yuenquan and Ren Zhigang, he would also choose like this. After all, if they abandon the forex market, the damage caused by the Hong Kong dollar being breached will be even more terrifying, so it's better to take a gamble – in case they win.

Unfortunately, the Hong Kong financial authorities lost the gamble, and they were played by others from front to back, and the real purpose of international financial speculators has always been - the Hong Kong stock market.

In the face of ultra-high interest rates after the release of the four "any moves", huge pressure hit the Hong Kong property market and stock market, which instantly crushed the property market and stock market. There is no way, this level of interest rate cannot be supported by any country's property market and stock market, even if it is a super boss in the United States, what can he do, in this situation, it is a song "Cool Cool" for him.

Not to mention Hong Kong, after all, his property market bubble is already very big, and this is what is going on.

Under the ultra-high interest rate, sure enough, the property market soon appeared the phenomenon of disconnection of funds, after all, the house could not be sold, the money could not be returned, and various debts immediately attacked. This has also exacerbated the increase in bad debts of banks, real estate companies have not paid loans, housing slaves have not paid loans, how can there not be many bad debts of banks?

Under such heavy pressure, the property market collapsed rapidly, and the Hang Seng Index started a plunge mode without any surprise.

At this time, the sharp fangs of X Fund and international financial speculators really showed their fangs, and they began to frantically short the entire Hang Seng Futures Index and harvest the wealth of the entire Hong Kong. You must know that under the multiple pressures of high interest rates, turbulence in the foreign exchange market, property market collapse and external shorting, it is a ghost if the Hong Kong stock market does not plummet, and any "bulls" will become cannon fodder at this time.

In fact, it is also true, the Hang Seng stock index seems to have been kicked off a cliff, falling all the way from a high of 16,820 points, piercing all the round number barriers, without brakes at all. Among them, on October 28, 1997, it plummeted by more than 1,400 points in a single day, a decline of 13.7%, and the Hang Seng Index directly pierced 9,000 points in the intraday, although it finally retracted above 9,000 points, but it was just a lingering breath.

With such a sharp fall, the Hong Kong stock market is really full of sorrow, and the plunge in the stock market has also directly affected the property market and the foreign exchange market, and the three have once again formed a resonance effect, further increasing the decline.

All of a sudden, how can the Hong Kong stock market and even the whole of Hong Kong be so miserable?

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