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Chapter 802: A Great Victory!

Hong Kong Island is known as the world's freest economy, and the Hong Kong government's principle of "active non-intervention" in the market has always been, but in the face of this situation, non-intervention is tantamount to sitting back and waiting for death, and it is impossible to move while watching people take money from their pockets. Pen ~ fun ~ Pavilion www.biquge.info If international speculators like Soros are allowed to win the hard-earned money of Hong Kong Island people again and again, no matter how strong Hong Kong Island's economic strength is, it will one day be emptied. Therefore, the Hong Kong government must take action to defend the financial order on Hong Kong Island, and the HKMA is the institution that shoulders this sacred mission.

But now Fan Xiangchen has few options, one is to implement foreign exchange controls, and the other is to announce the decoupling of the Hong Kong dollar from the US dollar. However, he believes that neither method is advisable, and if the Hong Kong dollar is decoupled from the US dollar, it will be a complete repetition of the mistakes of Southeast Asian countries, raising their hands and surrendering to the "quantum fund" and international speculators, and even allowing these financial "robbers" to rush into their homes and loot without any fears, which is completely unacceptable to both the nascent SAR government and the central government. If the market fails, not to mention the Chief Executive of the HKMA, and even the Financial Secretary and the Secretary for Financial Services will all step down to assume this responsibility.

At this time, it is difficult to accurately judge the situation, not to mention the hard-earned money of Hong Kong Island citizens in hand? Fan Xiangchen couldn't sleep all night, and he hadn't closed his eyes for several nights in a row.

Liu Ningqiang just smoked and didn't say a word, and he was even more annoyed and regretful in his heart. At the beginning, Lin Yu once reminded that the intention of the international speculator and the drunkard is all in the Hang Seng Index futures. Beware of them first shorting the Hong Kong dollar in the foreign exchange market, forcing the Hong Kong Island Monetary Authority to adopt the old tactic of raising interest rates and using it to suppress the stock market. If interest rates rise, the stock market will inevitably fall, and the Hang Seng Index futures will also fall simultaneously, and then short the Hang Seng Index futures loan at a lower price in the futures market, and the foreign exchange market and stock market will both make a profit. But he didn't take Lin Yu's kind reminders to heart at that time. In his opinion, Lin Yu is just a high-ranking son. Where do you know about finance and politics? Unexpectedly, the development of events was exactly as Lin Yu expected.

This time, the Hong Kong government withdrew a large amount of foreign exchange reserves and ate all the Hong Kong dollar selling. Intervening in the market also stems from its own meaning. Now the Hong Kong dollar exchange rate has finally risen above the psychological mark of 7.75 again, barely holding on. However, tens of billions of dollars of foreign exchange reserves are firmly entrenched in them, and they are powerless to cope with the rapid decline of the stock market and futures. Although Liu Ningqiang believes that his judgment is correct, if he really wants to be investigated, his responsibility cannot be shirked.

Ge Hongrui took a few puffs of cigarette. Only then did he say slowly: "This time we did underestimate the strength of Soros and international speculators, and fell into the current situation of being passively beaten, and the next step must be to make a good living." ”

"Let's see if the central government can mobilize another batch of funds?" Fan Xiangchen asked tentatively.

In fact, there are many ways to solve the problem, the so-called "one force to ten will" as long as there is enough funds to enter the market in a big way, and it will soon be able to raise the Hang Seng Index, which will not only make speculators unprofitable in the early sell-off. It is even more difficult to steal chickens and rice.

Ge Hongrui shook his head, and a wry smile appeared on the corner of his mouth.

This time, for the sake of the stability of the financial market on Hong Kong Island, we will ensure that the Hong Kong dollar will not be impacted. When the expert group went to Hong Kong, it was in fact fully authorized by the Central Committee and the State Council to directly mobilize a huge amount of foreign exchange reserves to intervene in the market, and the central bank also received the same instructions. However, some time ago, in order to stabilize the exchange rate in the case of a large number of sell orders, not only the Hong Kong government invested more than 100 billion Hong Kong dollars, but the expert group also urgently mobilized nearly 10 billion US dollars.

It is not impossible to continue to allocate funds from the central government", but for the almost sky-high sell-off, can it really repel the "quantum fund" and international speculative funds. It's still an unknown. China's foreign exchange reserves at that time were about $140 billion, and with the Hong Kong Island, it was only about $200 billion, which was nothing compared to the "quantum fund" and the amount of international speculative funds amounting to more than 900 billion yuan. Even if they were all desperate, if Hong Kong Island's stock and currency markets were to flee like Thailand. This amount of money is also enough to support the market for two or three weeks.

At nightfall, Victoria Harbour is brightly lit, and the waterfront fence separates the sound of the waves crashing on the shore, reflecting the continuous colors of the sea, and the dazzling Hong Kong Island on the other side is dizzying, and the reflection of the waves makes it more luxurious. Looking back at Kowloon, the glow is fading, the lights are fading away, a few returning boats are lying quietly on the pier, and the clock tower is still alone. The Wan Chai Convention and Exhibition Centre is as bright as a wash, Causeway Bay is bustling like a tide, the tall buildings scattered in the Central and Western Districts are brightly lit, the bright lights in the Central Centre are piercing the sky, and the stars looming in the blue and black Taiping Shan are the edge of this sea of lights. In a trance, the sightseeing cruise ships on the sea and even the Star Ferry have become performers competing for beauty on both sides of Victoria Harbour, with water, lights, boats and people playing together.

At this time, Victoria Harbour really came to fruition, and her makeup was more than luxurious - the dazzling sea of lights on both sides of Hong Kong and Kowloon was the luminous eyeshadow she applied to herself, which was full of bright colors, matching the charming lines and luxurious night dresses of Hong Kong Island. Victoria Harbour's flickering eyes are not as flamboyant as her luxurious makeup, and the glitz precipitates in the change of tides, and the cold look through the red dust is more provocative.

However, no one noticed in the night that a few people dressed in ordinary clothes and in a hurry secretly left the hotel from the staff passage of the Lin Consortium International Hotel on Hong Kong Island, boarded a Rolls-Royce that had been waiting here for a long time, and then under the escort of two bulletproof Mercedes-Benzes in front and behind, they slid through the dimly lit urban night, and the bright headlights flashed brightly and brilliantly in the night, heading straight for Repulse Bay.

Repulse Bay is located in the southern part of Hong Kong Island and is the most representative beautiful harbor on Hong Kong Island, with smooth and fine sand, wide beach bed, gentle slope and warm water. Because of its beautiful and charming scenery, Repulse Bay has always been one of the famous high-end residential areas on Hong Kong Island, and the area is full of luxury residences.

After that, things developed almost exactly as Lin Yu predicted.

First of all, the seven major consortia on Hong Kong Island jointly held a press conference, claiming that they would defend the financial order on Hong Kong Island and warning international speculators that Hong Kong Island is not their ATM. At the same time, the Hong Kong Island government officially intervened in the stock market, using the Exchange Fund and the Land Fund to enter the stock market and the Hang Seng Index futures market at the same time, resulting in a rebound of more than 560 points in the Hang Seng Index on the same day. That's an increase of 8%.

The Hong Kong Island government's previous policy of "active non-intervention" has dealt an unexpected blow to speculators, and the world has been in an uproar and has had mixed reputations. Support the Hong Kong government. Mainly small and medium-sized local investors and business people believe that the Hong Kong government should intervene a long time ago. The opposition is also quite broad, including many multinational financial institutions. For example, Morgan Stanley, a US-funded company, issued a report criticizing the Hong Kong government's action as a "desperate gamble" that may not succeed, but may instead give the hard-earned money of Hong Kong Island people to speculators, and in the long run, it will even endanger the linked exchange rate. Among the opponents are one or two newspapers that have long touted their belief in free market principles. and a number of professors and scholars. Their argument is nothing more than that the Hong Kong Island government has set a bad example of market intervention by entering the market, which will cause endless troubles, and will damage Hong Kong Island's status as an international financial center and scare away investors. The Wall Street Journal of the United States also accused the Hong Kong government of interfering in the free market principle under the headline "Hong Kong Island Makes a Big Mistake."

In this regard, the Chief Executive of the Hong Kong Island Special Administrative Region also made a statement to reporters: The Government will, as always, adhere to the policy of non-interference in the activities of the stock market and futures markets, but when necessary, that is, when there is a clear connection between stock speculation and futures, the Government has the responsibility to take decisive measures to reduce market chaos. Maintain the financial market and order on Hong Kong Island. The Hong Kong government has an unshirkable responsibility.

Such a clear-cut attitude shows that the confidence and determination of the Hong Kong government to rescue the market this time are beyond doubt, and hundreds of billions of Hong Kong dollars have been used to continuously fight speculators in both the spot and futures markets. It is different from the previous method of only pushing up the overnight interbank interest rate to increase the cost of international speculators. This time, the Hong Kong government intervened in the stock market, futures market, and foreign exchange market at the same time, trying to form a three-dimensional defense network, so that international speculators could not display the means that they are good at.

Specifically, in view of the current situation that most speculators hold sell futures indexes below 8,000 points, the Hong Kong government hopes to push the Hang Seng stock index to a level close to 8,000 points, and at the same time raise the settlement price of the August futures index, and let the September futures index fall, opening the gap between the two. Even if some speculators want to transfer their warehouse receipts from August to September, they will have to pay a few hundred points of entry fee for this, which will greatly increase the cost. Meantime. In order to stimulate economic growth and alleviate the economic decline, the Hong Kong government has increased investment in public works and actively built and expanded subways, highways and other infrastructure. Stimulate investment and enhance the attractiveness of the financial center. And refund the tax and freeze the charges. Alleviate people's hardship. Strengthen supervision and control to prevent excessive speculation and speculation.

With these effective measures, the confidence of Hong Kong Island citizens has been greatly boosted, and many wealthy Hong Kong Island businessmen have also claimed that they will never sell their stocks even if the stock price continues to fall. The stock index also rose sharply, and the form was very good, but the funds invested by international speculators showed losses.

In view of the Hong Kong government's strong intervention in the market, international speculators are naturally unwilling, and under the leadership of the "quantum fund", they have raised a large amount of money and attacked again, not only buying a large number of forward tickets for the Hong Kong dollar, preparing to repeat the glorious scene of encircling and annihilating the Thai baht, but also competing with the Hong Kong government for the big blue chips of Hong Kong stocks. It mainly includes HSBC, Island Telecom, Cheung Kong and other stocks. These stocks have a large share capital and high market capitalization, which plays a significant role in the rise and fall of the Hang Seng Index. Taking HSBC as an example, the stock accounts for 30% of the Hang Seng Stock Index, so it has become a long-short stock.

At the same time, in order to suppress the Hong Kong stock market, international speculative funds forced Russia to announce that it would abandon the operation to defend the ruble, causing the US and European stock markets to plummet across the board. At the same time, speculative capital poured out in the stock spot market, concentrated on selling large blue-chip stocks, and frantically shorted the liquidation of a large number of foreign-funded long-term funds, in an attempt to knock down the Hong Kong Island index. This is a ploy to cause a bigger drop in the stock market, forcing the government to bail out the market, and the speculators are selling stocks and Hong Kong dollars, with the aim of competing for money from the massive selling of futures contracts in the Hang Seng Index futures market for US dollars. At the same time, international speculators are even more arrogant in declaring that the Hong Kong government will be defeated. This kind of provocation against the government is truly unprecedented.

Hong Kong Island's stock market is facing a severe test.

The war was unusually fierce from the very beginning. A number of blue-chip stocks such as Changjiang Industrial and Huaxia Telecom were frantically sold by speculators, and a large number of European funds entered the market.

In the face of the bloody massacre of international tourists, the SAR Government fought to the death with a fearless spirit, and did its utmost to defend to the death. The soldiers will block, the water will cover the earth, there is no one left, and the whole market will be bought. Defensive across the board, used to stabilize the Hang Seng Index. In the first two days of the defensive battle, the HKMA took on about HK$30 billion to HK$40 billion, far exceeding the projected fiscal deficit of HK$21.4 billion for that financial year.

However, with the influx of more and more international speculative funds, the funds for defense have gradually run out, and the Hong Kong dollar and stock indices are once again in a hurry, and the situation is extremely dangerous.

Morning. Thunderstorm warning is issued at the Hong Kong Island Observatory. This seems to be a sign that an even more violent storm is coming.

And at this extremely critical moment, Lin Yu finally issued the order for an all-out attack. A well-planned counterattack was in full swing.

The next day, the Lin consortium, which had been silent, suddenly announced in a high-profile manner that it would go all out to enter the market and fight back against international speculators. The long-awaited showdown at the top has finally arrived. Millions of Hong Kong Islanders locked in the channel, their eyes glued to the fast-beating Hang Seng Index, and all of them were sweating.

But to everyone's surprise. The originally menacing and invincible quantum fund not only did not face the battle, but instead fought back after forcibly closing the position, which stunned other international speculators at once.

Wait until the other speculators react. The influx of buying funds has caused the exchange rate of the Hong Kong dollar to continue to rise against the US dollar, and the Hang Seng Index has soared.

At this point, international speculators saw that the general trend had gone, and they threw away their armor and fled. Huge sums of money looted from elsewhere continued to flow into the pockets of the Lin consortium and the Hong Kong government, and they had to evacuate Hong Kong Island in embarrassment.

The Lin consortium once again won a big victory, and it became famous in a fight. Let everyone know that no matter when, the Lin consortium will always be a well-deserved No.1 in the financial field.

The months-long Asian financial crisis has finally come to an end.

In this Asian financial turmoil that swept through all of Asia, including Thailand, Indonesia, Malaysia, Singapore, South Korea, Hong Kong Island in China, and Japan, and even affected Russia, the only one that could resist the attack of international speculative funds without economic collapse was Hong Kong Island after returning to the embrace of the motherland.

International speculators have returned with heavy losses. Not only did the huge wealth plundered in Thailand, Malaysia and other countries come to naught, but most of the principal invested in it was also lost, and the lesson was not unmistakable, so that in the future, there was no courage to attack China. But for Southeast Asia, especially Thailand, which is at the epicenter, the crown is okay, but Xiangqing is bitter.

And the Lin consortium and the Hong Kong government are naturally the biggest winners.

As far as the Hong Kong Island government is concerned, it has achieved its goal by striking at international speculators, safeguarding the financial market and order on Hong Kong Island, and preserving the fruits of Hong Kong Island's development over the past several decades. What's more, under the circumstance that international speculative funds were smashing the land, they took over all the Hong Kong dollars sold at a lower price, and made a profit of tens of billions of dollars in the fight for stock indexes, and their foreign exchange reserves reached the fifth.

The Lin Consortium's battle not only once again showed its domineering spirit to the world, but also made everyone understand that no one in this field can surpass the Lin Consortium. To paraphrase a later generation, it is: "Always imitated, never surpassed". It also made a profit of more than $60 billion, not including the income under the name of the "Quantum Fund" and the income of more than a dozen investment companies hidden in the shadows.

Not only that, the Lin consortium's active rescue of the market and the defense of the order of Hong Kong Island's financial market have been appreciated by thousands of Chinese people, and they are known as "heroes of the country" and an enterprise that truly serves the country and the people. The Hong Kong government and even the central government have expressed their appreciation for the Lam consortium on different occasions. It can be described as a big victory, fame and fortune.

However, even so, the Asian financial turmoil has brought a lot of side effects to the economy of Hong Kong Island. As a result, Hong Kong Island's economy as a whole is showing a downward trend, and the financial industry, real estate industry, and trade have all been hit hard. In this case, both the central government and the Hong Kong government have stepped up their efforts to recover the economy of Hong Kong Island, and the Lam consortium has also invested heavily in Hong Kong, from the expansion of the port to the opening of factories; From increasing trade to easing investment and lending thresholds for the Lin consortium International Bank...... Of the $30 billion that has been profited from this financial war, it will be invested in stimulating domestic demand, speeding up the economic development of Hong Kong Island, changing the industrial structure in a timely manner, promoting the development of emerging industries, and taking the development path of industrial diversification. It has laid a solid foundation for the second take-off of Hong Kong Island.

It is precisely because of the strong intervention of the Lin consortium that Hong Kong Island did not fall into a long-term recession like in the previous life, the property market shrank sharply, and the companies closed down one after another, but soon ushered in extremely high-speed development, which attracted global attention and amazement.

At this time, Lin Yu was no longer on Hong Kong Island, but when Soros made a big "defection" according to the plan, he took a plane back to the mainland.

The general trend has been set, and it no longer matters whether he is on Hong Kong Island or not. (To be continued!) ~！