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On the 25th, affected by the abandonment of the new Taiwan dollar, the exchange rate of the new Taiwan continued to fall slightly. Pen & Fun & Pavilion www.biquge.info

Prior to this, in order to defend the exchange rate of the new Taiwan dollar, Taiwan's central bank intervened in the foreign exchange market for two and a half months, investing $4 billion one after another.

At this time, Taiwan's foreign exchange reserves exceeded $80 billion, ranking fourth after the RB, the mainland, and Hong Kong, and it only consumed less than 5 percent of its foreign exchange reserves to protect the foreign exchange market, and at this time, the Taiwan authorities owed less than $100 million to foreign accounts.

Taiwan's central bank's move immediately aroused criticism from Taiwan's opposition parties and economists, and the ruling and opposition legislators signed a petition calling for the resignation of Hsu Yuan-tung, governor of the central bank.

Guo Songyan sat in the car and saw the newspaper's financial report on the Asia-Pacific region, and it was inevitable that he was a little gloomy, but Zhang Ke couldn't show a smug look, and he couldn't get carried away and tell Guo Songyan: They are gearing up, waiting for the moment when country H can't hold on and then have a big meal.

On the 25th, the exchange rate of the South Korean won against the US dollar continued to decline, and the Asian market closed down 1.8% from yesterday's quotation.

In the Asian market, the trading volume of the South Korean won against the US dollar also broke through new highs in a row, exceeding $800 million on the 25th.

In the rest of the month, the cumulative decline of the Korean won was more than 12%, but Zhang Ke clearly knew that this was not the fattest time for the Korean won, and the delivery period of the Korean won forward contracts in their hands was concentrated in mid to early December, and the only time to put the chips on the total outbreak of the economic crisis in country H was no later than the end of November......

The country H composite index fell sharply for the second day in a row, and market participants were worried that foreign investors would continue to withdraw from the stock market in country H - which was inevitable, and the short trade continued to shrink due to the lack of takers, and no one was happy to remain in the highly dangerous zone.

In order to stabilize the current weak stock market, the National Institute of Finance and Economics has asked many large enterprises to buy back their shares.

On the same day, the Development Bank of Country H filed a petition with the court to take over Kia Motors, which has been in financial trouble, and its sister company, Asia Motors, which would be the largest corporate takeover in the history of Country H.

The economy of country H is supported by large enterprises, and the collapse of the economy of country H began with the collapse of these large companies.

RB Business News reported today that the RB Central Bank is taking action to prevent the Asian financial turmoil from spreading to RB, and in the financial turmoil that has swept across Southeast Asia, RB's exports - RB's exports to Asia account for 40% of its total export value - have been severely affected, which could block the last exit of RB out of recession; The Nikkei fell nearly 4%.

The Hong Kong dollar was also hit by speculators today, and the HKMA decisively released a large number of US dollars into the foreign exchange market to support the Hong Kong dollar, temporarily maintaining stability, but the rise in Hong Kong dollar interest rates, pressure into the stock market, affected by the surrounding areas, the Hang Seng Index fell sharply in early trading; As the delivery period of the Hang Seng Index futures contracts in the quarter and month is approaching, the liquidation action is concentrated, and Chinese investors enter the market, the Hang Seng Index rebounds after midday to make up for the decline in early trading, becoming the only stock market in the Asia-Pacific region to rise.

Demonstrations demanding the resignation of Prime Minister Varli continue to spread through the streets of Bangkok, Thailand, and its major cities, destabilizing the country's political situation.

In Indonesia, the government announced that it would close 16 banks, and there were long queues in front of street banks in Jakarta and Bandung.

Malaysian Prime Minister Mahathir Mohamad, who arrived in Hong Kong to attend the annual meetings of the World Bank and the International Monetary Fund, held a news conference after staying at the hotel, saying that if US financier Soros has a conscience, he should stop manipulating the stock and currency markets of Southeast Asian countries, and Soros, who was invited to attend the first day of the conference, also stayed in the same hotel.

After entering the Shangri-La Hotel, in order to relieve the depressed mood of Guo Songyan and his entourage, Zhang Kerang arranged a small buffet reception in the senior suite of the Shangri-La Hotel as a reception, and it was also convenient to discuss some things at the reception.

Whether Guo Songyan can get out of the trough of the financial turmoil as soon as possible, Guo Songyan is not too optimistic about this, and as much money as possible can be withdrawn to cope with the more difficult situation in the future, which is what Guo Songyan needs to do most urgently at this time.

Guo Songyan is naturally looking forward to reaching Xinguang Paper's equity investment in Yunyuan Pulp as soon as possible, and in Zhang Ke's words, "taking advantage of it" is also willing.

In the corner of the luxurious living room, Zhang Ke held a glass with bright red wine, and explained some details of the equity investment to Guo Songyan, "Xinguang Paper's equity investment in Yunyuan Paper has received financial support from the Donghai Branch of the Export-Import Bank of China......" In this corner, there are Zhang Ke, Guo Songyan, Sun Shangyi and others, Zhang Ke said, "On the other hand, the capital contribution part of Yunyuan Group in the wafer fab investment project, China is also willing to provide some financing to alleviate the financial pressure of Yunyuan Group......

The connection with Liu Zhicheng is not close enough, and Guo Songyan is counting on Guo Songyan to promote a lot of work. In order to promote Guo Songyan, and not to make Guo Songyan retreat because of the temporary predicament of Yunyuan Group, Jianye City can be responsible for solving the part of Yunyuan Group's capital contribution in the wafer factory investment project.

With such preferential conditions, the huge market of 1.3 billion people will promote the continuous growth of the mainland economy without being affected by the Asian financial turmoil. At this point, even if the project is transferred to the mainland, Singapore will not set up additional obstacles to the wafer manufacturing technology, the key is to depend on Liu Zhicheng's attitude, without him to lead the technical team, the wafer factory will not be able to do anything.

Guo Songyan nodded and said, "In short, I still have to go to Taiwan......

Things come sooner than anyone expected, and bad news usually likes to follow; The fierceness of the coming was also beyond Zhang Ke's imagination.

On the night of the 25th, the media of country H revealed that at least 12 commercial banks were burdened with huge bad debts, and because they were able to obtain huge amounts of foreign debts from the international financial market to cover up their operational defects, after the financial turmoil blew out, the international financial institutions shrank their monetary base, and these commercial banks in country H could no longer tear down the east wall and make up the west wall from the international financial market, and the government would no longer come to the rescue, and bankruptcy would be just around the corner on the same day.

Shunshan enterprises in country H submitted bankruptcy applications to the court that night, and so far, five of the 30 large enterprises in country H have gone bankrupt or applied to the court for bankruptcy protection.

Stimulated by these two news, on the morning of the 26th, the H country composite index suffered another heavy setback, falling 5.91%, and the won fell 3.4% from yesterday. This is the biggest drop in the last decade, and it seems that most financial experts do not think that this will be the biggest drop in country H this year.

In the event of a break below the 1100 mark against the dollar, the forces will slide towards 1350 points.

The black clouds wrapped in the thunder of the financial storm are so lightning fast and shrouded over country H.

On the 26th, the stock markets of Taiwan, the Philippines, Malaysia, and Singapore all fell across the board.

The Hang Seng Index, however, picked up yesterday's late rally and unexpectedly rose 2% throughout the day.

On the one hand, it is affected by the centralized liquidation and buying operation of Hang Seng Index futures contracts, and on the other hand, the early ebb of Hong Kong stocks has caused some investors to transfer funds to Hong Kong, which economic analysts call the "safe haven effect".

On the 27th, the Nikkei Stock Average fell sharply by 5.1% as Yamaichi Securities, one of the largest securities institutions in the RB, fell into the shadow of bankruptcy.

On the 27th, the Minister of Finance and Economics of Country H publicly stated that he would sign a rescue agreement with the International Monetary Fund as soon as possible, so that the composite index of Country H would get rid of the bad impact of the sharp decline of the Nikkei Index in the morning and maintain a slight stability, but the outside world has released reports on the continued deterioration of the economy of Country H one after another.

On the afternoon of the 27th, the International Monetary Fund (IMF) pointed out that the total bad debts of the two commercial banks in country H exceeded $10 billion, and the bailout application for a $20 billion loan applied by the government of country H was far from enough to help country H tide over the difficulties.

Hit hard by this news, the country H composite index fell sharply at midday, and the South Korean won also fell 2.4% against the dollar against the dollar from yesterday.

The International Monetary Fund mercilessly threw out an economic analysis report in the evening, pointing out that by the end of December, the available foreign exchange reserves of country H were less than $10 billion, but the total short-term external debt of country H had reached $96 billion.

Affected by the financial turmoil, it has been extremely difficult for the commercial banks of country H to borrow US dollars in the international financial market recently, and there is also news in the financial circles of Hong Kong that many commercial banks in country H have turned to Hong Kong banks for help, and the one-month interest rate has reached a frightening 8%; For risk reasons, Hong Kong banks rejected it.

The bad news that broke out one after another made Ye Jianbin scream excitedly, these bad news are just bad news that the economy of country H is gradually collapsing, Ye Jianbin listens to it, but it is like a strange sound, he also knows that this is just an appetizer before the main meal,

With $140 million as the principal, he opened short positions of more than $800 million in Thai baht and Indonesian rupiah in more than a month before mid-to-early July, and made a lot of gains. By the end of August, hedge funds had more than $250 million in principal, and although they were trying to build short positions in forward contracts on the won, the size of the positions was much smaller than the short positions in mid-to-early July, and it is certain that the won will fall in the next two months far more than the baht and the rupiah fell during the first round of financial turmoil.

In view of the rising interest rate costs in the spot exchange market, in addition to continuing to sit firmly in the Diaoyutai and holding the won forward contract in his hand, Zhang Ke suggested that the excess funds in the account be withdrawn as dividends.

Previously, Ye Jia, Sun Shangyi, and Ge Mingde respectively transferred a total of one billion Hong Kong dollars to the hedge fund's account through various channels, and at this time, through reverse operation, these funds can be washed out of the hedge fund's account without difficulty.

Because the funds required by the Ye family, Ge Mingde and Kumho to inject capital into Yuexiu Holdings were all temporarily borrowed from Sun Shangyi and his wife; This time, the dividends were washed out of the hedge fund account, which happened to allow the Ye family and Ge Mingde to settle the debts between them and Sun Shangyi and his wife. Zhang Ke's currency investment in Hong Kong and his previous capital injection into Yuexiu Holdings are all capitalless transactions, even if the dividends in his name are returned to Sun Shangyi and his wife this time, he still owes Sun Shangyi and his wife nearly 300 million Hong Kong dollars in debt.

However, even after the dividends are withdrawn from the hedge fund account, the principal and cumulative profits returned to Zhang Ke's name are still nearly $60 million, and this account will continue to increase as the won plummets further.

Unfortunately, it is not so simple for the hedge fund to withdraw the funds again and transfer them to the accounts of Kumho or Yuexiu.

Zhang Ke didn't want to risk polluting Kumho and Yuexiu's accounts, and no matter how much wealth he had, it would not be useful for a while, so he could only temporarily leave him alone in a secret account overseas for emergencies.

In addition to the HK$1 billion in the name of Sun Shangyi and his wife, Zhang Ke will also officially allocate HK$1.5 billion from Kumho to jointly make a second capital injection into Yuexiu Holdings to prepare for the launch of the wafer fab project.

So far, Yuexiu Holdings, from a small company with no name, has become the holding company of the largest disc player manufacturer Aida Electronics, the holding company of Xiangxuehai Electric Appliances, the top three white power enterprises in the mainland, and the shareholding company of the largest household appliance chain enterprise in the mainland, in addition to holding a huge amount of cash of 2.5 billion Hong Kong dollars.

After two capital injections totaling HK$3.5 billion, the shareholders of Yuexiu Holdings also underwent great changes, with Kumho holding 34% of the shares and becoming the largest shareholder of Yuexiu again, Xie Wanqing's Haiyu Company holding 25% of the shares, Sun Shangyi and his wife holding 24% of the shares, Su Jindong, Ding Huai, Xu Si and others holding 3% to 5% of the shares held by the Ye family.