In the round of global stock market decline in '87, Japan was undoubtedly the strongest one, falling only 15% before gaining a foothold, and as a result, global funds poured into Japan at an even more frantic rate.

As early as the appreciation of the yen, capital, which has an extremely keen sense of smell, sensed the opportunity and could not wait to exchange other currencies in their hands for yen and invest them in Japan's capital market. In order to offset the impact on the real economy caused by the appreciation of the yen, Japan has also announced various measures such as lowering interest rates, and as a result, most of the capital has flowed to the real estate market and capital market, and there is not much real investment in industry.

The Japanese stock market has experienced a super bull market.

After the stock market crash in 1987, U.S. Treasury Secretary Baker asked Japan to continue to lower interest rates in order to attract capital from Japan to the United States.

Japan had no choice but to succumb to this pressure, and the government once again lowered interest rates, a situation that led to a flood of liquidity. To put it bluntly, there is too much money circulating in the market!

In order to compensate for the decline in exports due to the appreciation of the yen, Japanese companies borrowed money from banks at low interest rates and invested in high-yielding stocks and real estate markets, which together with international hot money, caused an unprecedented boom in the Japanese stock market.

In 1986, the Nikkei was still at 13,000 points, but in September 1987 it rose to 26,000 points, which fully doubled, which means that the net worth of every investor who invested in the stock market has at least doubled. And the rise in this number continued until 1989, when the Nikkei hit an all-time high of 38,915 points.

In this environment, the Japanese, who had a lot of capital in their hands, began to buy like crazy overseas, and they seemed to be completely dismissive of the price, and they bought what they wanted with a checkbook in hand.

There is even a story circulating in the community that the Americans are going to sell a building to the Japanese, and the Americans offer $400 million, and the Japanese agree, and the two sides will negotiate and wait for the payment. As a result, in just a few days, the Japanese suddenly brought a new contract, and the amount of the contract was 610 million, the Americans were greatly surprised, ecstatic and puzzled at the same time, so they had to ask the Japanese, and the Japanese explained lightly: "Just the day before, their boss saw the Guinness Shijie record, the highest price in history for a building to be sold is 600 million US dollars, and they want to break this record." ”

In order to break a shijie record, another $200 million will be given away for nothing, and this logic is enough to prove that the Japanese are not short of money.

In 1989, the purchase of American assets by the Japanese reached a peak, and in June of that year, Columbia Pictures, one of the seven major film companies in the United States, was acquired by Sony for $3.4 billion, which greatly shook all walks of life in the United States. Soon after, the Japanese manufacturer Mitsubishi bought the Rockefeller Center, one of the national symbols of the United States, for $1.4 billion.

Rockefeller Center, a complex of nineteen commercial buildings that occupies three blocks of Manhattan and was designated a National Historic Landmark by the U.S. government in 1987, is the largest privately owned complex in all of Shijie and a landmark that marks modernist architecture and capitalism.

Although it was stolen much of the limelight by the rising star World Trade Center's twin towers, the Rockefeller Center has been around for a long time, and was built during the Great Depression, providing more than 50,000 jobs for New York at the time, which has a lot more history and significance than the younger World Trade Center.

The fact that such a building was acquired by a Japanese consortium is no less significant than the erection of the Japanese flag on Capitol Hill, which is being discussed throughout the United States, and some people even say worriedly: "Japan does not know when the Statue of Liberty will be bought!" ”

Not only these iconic buildings, but also ordinary Japanese people are not spared real estate, after all, the price of real estate here is too cheap compared to the housing prices in Japan.

Someone once calculated that the land prices in Tokyo, Japan, at that time, could buy the entire United States, which is enough to see how high the housing prices in Japan were at that time.

In fact, in later generations, a similar situation occurred not only in Japan, but also in the capital of another country. This was 20 years later, but everything was very similar to Japan at that time.

The only difference is that the country's asset bubble was punctured early in the stock market, which also led to a significant decline in the wealth of most shareholders.

However, in that country's real estate market, due to the difference in land ownership and the influx of large amounts of capital, housing prices have skyrocketed to the same extent as in Japan.

And, more importantly, land has become an important source of revenue, so even in the face of record housing prices, the country's government has gritted its teeth and held on.

This naturally suffered a generation of young people.

Without further ado, let's move on to Japan in the eighties.

At this time, with the crazy rise of the stock market, the entire island of Japan fell into a frenzy, and people even believed that there was something different from foreign countries in the Japanese stock market, which transcended the laws of the economy, and these things could make the Japanese stock market stand firm and never fall.

The only people in Japan who have been in a sober position are probably the officials of the Ministry of Finance who make policies.

In 1986, Nikkei 225 Index futures were traded on the Singapore Financial Futures Exchange.

The so-called Nikkei 225 Index, also known as the Nikkei Stock Average Stock Price Index, is a stock price index of 225 varieties of the Tokyo Stock Exchange launched by the Nihon Keizai Shimbun.

After the launch of Nikkei futures in Singapore, Japan and the United States also launched Nikkei futures, but since Singapore was the first market to launch Nikkei futures, it also has the largest trading volume and influence.

The reason why Zhong Shi did not buy Singapore's index futures is that futures need to be observed at all times, and if he is not careful, he will blow up, although he is not afraid of this risk now, but after all, it is not as reassuring as investing in the Japanese stock market. He has invested more than 10 billion yen in the Japanese stock market, and in this kind of bull market that only rises but does not fall, it can be said that he is sitting firmly on the high platform, just waiting for the time to come.

In fact, not everyone is as crazy as Japanese investors and entrepreneurs, and in the eyes of the American financial elite, the Japanese stock market has long gone beyond the normal bull market and has greatly formed an asset bubble.

In this situation, the elite of investment banks devised a completely new kind of financial derivatives and came to Japan to sell them aggressively: stock index options.

Stock index futures and options are two different concepts, and the American investment banking elites who led the global financial revolution combined them to produce a new variety, that is, stock index options.

This kind of thing is essentially an option, but the underlying is replaced by stock index futures.

Generally speaking, there are two kinds of options: long and short, and the results of Zuihou's gambling are divided into two types: exercise and non-execution, and futures are also divided into two, so that there are four different varieties.

The leverage of options is generally ten to 100 times, depending on the different types of underlying items and choose different option premiums, the leverage of futures is roughly the same, so that the leverage is as high as 100 times or even 1,000 times.

It must be said that the financial innovation of the United States has greatly come to the forefront of shijie.

In Japan, the investment banking elite in the United States peddled stock index put options, which are financial products that can be executed when the stock index falls to a certain position, and the investment banks such as Da Mo and Salomon Brothers are the main underwriters.

This brand new financial product is unheard of in Japan, and when the big conglomerates first heard about it, they were so surprised that they realized that it was a very risk-off tactic and bought it in large quantities.

How does this kind of thing avoid risk? If there is a fund of 10 billion yen in the stock market, then the holder can buy 100 million yen of stock index put option (assuming the leverage is 100 times), when the stock index falls below a certain number, then the option can be exercised, and in the stock index market into a certain number of short futures index, it can play a role in hedging risks.

Naturally, this risk is not completely hedged, unless he is holding the same position in different directions, then there will be no profit at all, and a large transaction fee will be posted.

In Japan's stock market, insurance companies are an extremely important investor, and unlike other industries, the insurance industry attaches great importance to avoiding the risk of funds, so it is also the fastest consumer group to accept this new product.

After all, no one can predict what will happen in the future, and Zhong Shi is an exception.

After experiencing the global stock market crash in 1987, Zhong Shi also really stopped for two years, obediently went to school for a few days, and traveled everywhere in his spare time, covering the north and south of China's great rivers.

Every time he went out alone, there were too many times, and Zhong Jianjun and Liu Lan were relieved. In the past two years, he has obviously grown taller, and the thirteen-year-old child has grown to a height of one meter seven, coupled with a strong body, which makes people feel that he is already seventeen or eighteen years old.

His sister Zhong Xiaohui continued to study hard in the high school in the county, and heard that her grades were very good, and she hoped to be admitted to a prestigious university.

On this day, Zhong Shi had just returned home, and before he could wash off the dust, he received a call from Hong Kong.

In the past two years, Zhongyi has been very proud, in addition to his academic achievements, he has also formed good friends with Liao Xiaohua, the two are of the same age, and they belong to the same camp, so they naturally have nothing to say, and when the Hong Kong media accidentally found out that Zhongyi lived in a mansion worth tens of millions in Repulse Bay, he also gave him the title of "noble son".

"What's wrong? Your son? Zhong Shi quipped on the phone.

"Housing prices in Hong Kong are plummeting now, I heard that it was affected by the Yanjing incident, and now many people are in a hurry to immigrate, do we have to do something?" Zhong Yi smiled and got down to business. (I hope that all book friends will continue to support, everyone's support is my motivation, thank you very much!) ）

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