Just when Song Ling hadn't recovered from his stunned stunning, he heard Li Xi continue: "In addition, the next time there is such a thing, although it has nothing to do with our company's business, but Xiao Song, you are still very young and need someone to help you check and guide." As the chairman of the entire group, I naturally can't turn a blind eye to this situation, so I ......"

Although this bailout committee is considered temporary, except for a few managers of the financial department of listed companies who have some liquidity on hand, other large fund transfers need to apply to institutions such as Aihua News Agency and Hualian Press, but how to use and how much to use still need to refer to the opinions of these managers. In other words, this is a good opportunity to leave a favor, how could the shrewd Li Xi want to miss it?

As soon as Song Ling heard this, he understood, and hurriedly said, "Yes, Li Dong." I will certainly carry out my work under your care and guidance. ”

Seeing that Song Ling quickly realized his intentions and gave a positive response, Li Xi smiled with satisfaction and said, "The young man is good, he has a great future, it seems that this position is a bit condescending now." But don't worry, after this period of time, I will apply to the organization to give you a bigger platform for development. ”

Just reached a favor deal, and then threw a sweetheart, this is Li Xi's trick to win over Song Ling. Although Song Ling was disdainful in his heart, he still pretended to be respectful, and said excitedly: "Xie Lu Xie Chairman Xie is promoted, I will definitely ...... on the basis of doing my job well."

Let's talk about it for most of the day. Of course. Both sides do not believe in this kind of rhetoric, but this is an unavoidable procedure, as if the organization department wants to promote a cadre, and when I talk to him, I usually say: "I am limited in ability, I am afraid that I am not qualified for such a heavy task, but I resolutely obey the arrangement of the organization......

Hypocrisy!

……

At this time, researchers are nervously staring at the indices of the US market to see what kind of situation the 10th anniversary of "Black Monday" will cause to US investors, after all, the decline in Hong Kong will more or less affect the psychology of some investors.

It should be clarified. In 1987 during "Black Monday". First, at the close of trading on Friday, the US Dow Jones Industrial Average was the first to fall, for reasons unknown. The most plausible explanation is that London was hit by a hurricane, and investors in London chose to hedge in the New York market in order to avoid losses. This led to volatility in the Dow Jones index. This was followed by the opening of the market on Monday. The Hong Kong market in Asia was the first to fall (the Tokyo market barely saw much volatility around the same time). This decline destroyed investor confidence, which then spread to Europe, and then caused the Dow Jones Industrial Average to plummet on Monday, US time. Because the New York market is one of the most important markets in the entire global financial market. As a result, this panic plunge in turn affected the entire global market.

Because Hong Kong was still under British rule at the time, the entire Hong Kong market was very closely connected with London, which can be explained by the fact that the Tokyo market did not fluctuate significantly. In fact, rumors that Black Monday was caused by the British hurricane have long been blamed by some for the crash.

Even now, the Hong Kong market is still very closely linked to London, and the largest foreign exchange market for the Hong Kong dollar is still in the UK, not the Asian financial center.

"The Financial Times index fell 60 points, or 1.14%, to close at 5,211 points, which is not too bad." At this time, the London side has closed, and the situation of the whole day has become clear, when Ren Ruowei reported the situation to Zhong Shi, his expression was a little excited, and he no longer looked like he was facing a great enemy before.

Since the events of a decade ago were almost devastating to the entire financial market, investors who lived through that period should not forget this experience. However, judging from the current European market, this panic can hardly have a greater impact on investors, after all, it has been ten years since the incident.

"In addition, the New York market is very optimistic, and there is no imaginary situation, the market sentiment is generally optimistic, the current market is still green, I believe that it can remain this situation when it closes." Ren Ruowei gushed out, not noticing Zhong Shi's increasingly ugly face.

After another half a day, Ren Ruowei finally realized that he had reported for a long time, Zhong Shi still didn't say a word, he said curtly: "Zhong Sheng, is there any problem?" ”

"The problem is serious!"

Zhong Shi replied unceremoniously, and then beckoned to Ren Ruowei, motioned for him to come forward, pointed to the foreign exchange chart on the computer screen and said: "See, this is the trend chart of the London market about the Hong Kong dollar and the British pound, the Hong Kong dollar fell as soon as the market opened today, although the intraday rebounded, but the situation is not very good, The exchange rate against the pound is now 12.6510 Hong Kong dollars per pound, which is the lowest price since August, and although the current situation is still unclear, there is no doubt that the market does not have a lot of confidence in the Hong Kong dollar. ”

Since the currency of the Hong Kong market is pegged to the US dollar, and the Hong Kong dollar is issued at a ratio of 1:7.8, the factor that has the greatest impact on the Hong Kong dollar is not the British currency, which once ruled Hong Kong, but the US dollar. Therefore, Zhong Shi opened the exchange rate chart of the pound to the US dollar, pointed to the jumping K-line chart and said: "See, the pound rose by 1.05% against the US dollar, closing at 1.633 US dollars to 1 pound. What do you say that means? ”

"The Hong Kong dollar fell against the pound, the pound rose against the dollar, and the dollar rose against the Hong Kong dollar......"

Ren Ruowei repeated these words in his mouth, and only after a long time did he slowly say, "Is it possible to interpret it like this?" Investors have been bullish on the pound recently, so they have bought a lot, which has also led to selling pressure on the Hong Kong dollar, so both major currencies have fallen, also because of the fear of 'Black Monday'. ”

Due to the extremely complex currency exchange rate, there are many factors affecting it compared to the stock market, and there are three or four currencies or even more intersecting exchange rates. Even the most astute academically savvy economist can get lost in this intricate analysis. Therefore, Ren Ruowei thought for a long time before he replied with some uncertainty.

However, due to the existence of arbitrageurs in the market, although the current rise and fall of these three currencies is complicated, they will eventually move towards a balance, that is, the exchange rate difference between each other will not be greater than the opportunity cost of arbitrage, otherwise arbitrageurs will enter the arbitrage market and narrow the exchange rate difference between each other to this range.

"It's an explanation!"

Zhong Shi nodded noncommittally, glanced at Ren Ruowei again, and then said: "But there is another explanation, I think that European investors have also begun to lose confidence in the Hong Kong dollar and are selling the Hong Kong dollar." Buy GBP. And the magnitude of this buying is one of the reasons for the appreciation of the pound against the dollar. ”

"This ...... It's unlikely! ”

Ren Ruowei's face changed slightly. He shouted in a lost voice: "You must know that although banks such as HSBC and Standard Chartered are old British banks, their main roots are still in Hong Kong, and this kind of behavior of selling their own currency will not necessarily increase profits, on the contrary, it may also cause certain troubles to their business activities." At the same time, there is more exchange rate risk. ”

Zhong Shi nodded. I was quite satisfied with Ren Ruowei's reaction. However, he still did not give up his point of view, saying: "There is some truth in what you say. And the situation of the Hong Kong dollar will not be the main reason for the appreciation of the pound. But have you ever thought that once London-based investors join the army of shorting the Hong Kong dollar? Then investors who hold the pound will obviously not convert it into dollars, adding an exchange rate risk in vain. The most likely thing they can do is to sell Hong Kong dollars and buy pounds. ”

"And once the Hong Kong dollar is pegmatized from the dollar, these pounds will naturally rise sharply, although the main battlefield is not here, but if the dollar side succeeds, it will not affect their earnings, after all, the pound is still strong in the short term."

"And in the end, investors who hold the pound may also choose the dollar, because the process of the euro is accelerating, and no one knows what will happen when the euro is revealed, although the biggest competitor of the euro is the dollar, but the pound is probably the first to bear the brunt. So now the pound seems to be stable, but in the next few years, I am afraid that there will be a depreciation against the dollar. ”

As he spoke, Zhong Shi seemed to have a huge chessboard in front of him, and the people who played chess were naturally from various countries, and he was currently just a cold-eyed observer.

Shaking his head, Zhong Shi came back to his senses, these are too far away, the euro has at least two or three years to "croak", and the most important thing now is the Hang Seng Index in Hong Kong. When I think of Hong Kong, Zhong Shi thinks of the British, compared with the Americans, the British in Hong Kong is obviously more influential, if there is no British in the stock index futures of the Hang Seng Index, I am afraid Zhong Shi himself does not believe it.

At the end of the day, the biggest factor influencing the Hong Kong dollar is the US dollar, and it is possible to short it by buying the pound and selling the Hong Kong dollar, but apart from a few British banks, I am afraid that not many banks are interested in this. Therefore, the exchange rate of the pound against the Hong Kong dollar is still determined by the exchange rate of the pound against the US dollar, and there are many factors that affect the exchange rate of the pound against the US dollar.

When the two were discussing hotly, they heard an extremely excited voice from outside the door, and then Ma Jiarui walked in and said excitedly: "The Dow Jones Industrial Average closed at 7921 points, up 74.41 points, or 0.95%. A very good result, there is no 'Black Monday' confidence crisis in the United States, and I believe that tomorrow will be a good news for the Hang Seng Index. ”

"Hey, hey!"

Zhong Shi laughed dryly twice with a strange expression, and then said with some teasingness: "That's not necessarily, it's not too late for us to wait until tomorrow's market closes to draw conclusions." Then he clicked on the chart of the exchange rate of the yen against the dollar and began to look intently.

Since the onset of the Southeast Asian currency crisis, the yen has been the strongest currency in the entire region. Although it has depreciated slightly in recent months, the yen has remained at about 120:1 against the US dollar, a depreciation of only about 4%, and this part of the depreciation is due to the export pressure caused by the depreciation of the currencies of other Southeast Asian countries.

"The cost of borrowing is really cheap!"

Such an inexplicable exclamation suddenly came from the quiet room, which made Ma and Ren, who were waiting for Zhong Shi to speak, startled, and then looked at Zhong Shi together, not understanding what he was talking about for a while.

Zhong Shi raised his head, saw the puzzled eyes of the two, smiled slightly, and then explained: "At present, the exchange rate of the yen is extremely low, and hedge funds borrow funds from the Japanese side through collateral, and then turn into dollars through the foreign exchange market, making waves everywhere. Japan's exports are now under pressure due to the general depreciation of the exchange rate in Southeast Asia, and although this pressure is small compared to the Japanese economy, the market expects the yen to depreciate. As a result, the cost of borrowing money from hedge funds is very low, and as the yen depreciates, they inadvertently make a windfall. (To be continued......)

PS: Thank you book friends for not me for voting for the monthly ticket! Thanks for the tip that made me think about it!