Although there are proposals to use the rupiah to buy fixed assets, hold them until the right time is right, and no one refutes them, no one actually does it. Because at this time, with the news of the Indonesian government's indiscriminate issuance of currency, the exchange rate of the rupiah to the US dollar in the foreign exchange market has fallen below the 4000 mark, and the speed of their price rise is also rapid, trillions of rupiah want to be converted into physical goods It will take a certain amount of time, and at that time, the evil consequences of the indiscriminate issuance of currency will be revealed, domestic inflation, foreign depreciation has been inevitable, and the loss of the quantum fund will only be more serious.

Just when Soros, Druckenmiller and others were at a loss for the deal, Zhong Seok and his team were proudly watching the performance of the won in the foreign exchange market, waiting for the time to close the position.

Just yesterday, December 10, South Korea once again announced the suspension of the business of five securities banks, and after two consecutive days of plummeting, the won opened at the level of 1459.4 won to 1 US dollar, which has hit a new low in South Korea this year. On this day, all eyes of the market turned to the won market.

On the Indonesian side, the president's staff announced that Suharto would attend the Asia Summit in Kuala Lumpur in a way that they wanted to dispel the growing rumors about the president's health in the market. On the Korean side, the currency against the US dollar has reached a new low in a day, and the business of five securities banks has been suspended, but these are not the reasons why the won has become the focus of the entire East Asian currency market today. It is also ridiculous to say that the real reason why the won is in the spotlight again is that the South Korean government has once again reversed course. It is already on the verge of becoming a laughing stock in the market.

After announcing the closure of nine securities banks last week, the South Korean government repeatedly announced that it would not close any more banks, but in order to cooperate with the IMF's rescue plan and strengthen the confidence of foreign investors, the South Korean government risked market accusations by announcing the closure of five securities banks again.

Since the government's promise is no longer credible, the performance of the won in the foreign exchange market is obvious to all, and in less than half an hour after the opening of the market, the won fell wildly to the position of 1600 won to 1 dollar, and it is about to fall to the price of 1604.9 to suspend trading.

"Zhong Sheng. Aren't we going to make a move? "It's time to suspend trading. The traders, who had been waiting for the trading order, were in a hurry, and one of them couldn't help but ask.

Zhong Shi looked up blankly, looked at the other traders, and saw that they were all expectant. Only then did he say "oh": "Let's buy 40 billion won to test the water first!" But. Each buy-in must be the same amount. It's our deal to let the market know. ”

Looking at his understatement, the traders around him were speechless for a while, according to the current price. 40 billion won is about 25 million US dollars, which is definitely an astronomical amount of money for most people in the world, but when it comes to Zhongseok, it seems to be a small stone just to test the water.

Amazed and amazed, the traders who sat in a row looked at each other, and began to get busy in an orderly manner according to the division of labor that had been arranged before, and for a while the telephone and keyboard rang one after another.

"Huh? Lao Ren, why is your face so ugly? ”

Zhong Shi scratched his head, a little embarrassed, he had just been in the fugue for nine days, and he didn't notice the performance of the won at all, until the trader reminded him, in order to hide his embarrassment, he then quoted a number.

Seeing that the traders were busy with their own work, Zhong Shi let out a long breath, turned around and prepared to make a cup of coffee, only to find that he didn't know when the road began, Ren Ruowei stood behind him quietly, staring at the big won quote on the computer screen with two eyes, and his face was as white as paper, without blood.

Seeing that fine beads of sweat were already oozing from Ren Ruowei's forehead, Zhong Shi asked worriedly, "Old Ren, are you uncomfortable?" In this way, I will give you a day off, you should go to the hospital and have a look, don't be tired. ”

Ren Ruowei raised his head and glanced at Zhong Shi with a complicated expression, and then said slowly: "I don't have anything to do, Xie Lu Xie Zhongsheng cares." I...... I'll do things first. ”

After saying that, he turned around and left, and as soon as he took two steps, he heard Zhong Shi laughing behind him, and deliberately shouted: "Don't forget, it's time to wait until February next year, hurry up and book a car, it's not good to buy it late!" Ren Ruowei immediately stumbled and almost fell to the ground, he didn't dare to linger longer, and left here as if he had fled.

Zhong Shi laughed for a long time, and then stared intently at the plate. Due to the approaching fall limit, almost all won trading has stopped, and everyone is waiting for the moment when the won falls to a halt. As a result, at this time, dozens of buy orders of 2 billion won suddenly appeared in the market, and a total of tens of billions of won buying orders suddenly held up the price of the won that was currently shaky, so that the exchange rate of the won against the dollar did not fall to a stop position, but on the contrary, it rose a lot.

The sudden price fluctuation caught other traders off guard, and they didn't understand the meaning of the buying order, knowing that if you stay for a few more minutes or a day, the price of the won will bottom out again, and it would be better to buy more won at that time. However, soon a shrewd trader reacted, secretly calculated the amount of purchase in his heart, and found that it was a rare large-scale purchase, and his mind became a little lively.

"More than $20 million in purchases is definitely a big deal." Some of the traders who understood it shouted in their hearts, "Who the hell, who can still sell so many bids in the current market?" And it's the same amount, aren't you afraid of revealing your identity? ”

The big institutions that can buy and sell in the foreign exchange market are definitely large, at least for the stock market, these institutions are superior in terms of financial resources, manpower and strategy application. Moreover, the foreign exchange market is related to a country's economy, and few institutions can control the direction of the currency. Neither can a single quantum fund, unless Soros raises his arms.

"Someone bought it!" The volatility of the market soon spread to all corners of the market, including the Tiger Fund, which has a dedicated person in charge of buying and selling the won, "and the amount is not small, at least tens of millions of dollars." A trader couldn't help but shout as he counted the order numbers on the screen.

Even though it was late at night in the United States, the lights were still bright inside the Tiger Fund, and researchers and traders had long been accustomed to this black-and-white life. Recently, within the Tiger Fund, there has been a lot of debate about whether the won should be closed at this time, and even Julian Robertson himself has not finally made up his mind.

Logically speaking. With the IMF resolution. At least on the premise of not shorting more, Tiger Fund should reduce its position in the won on a case-by-case basis, because in the long run, the recovery of the won has become inevitable. But in the short term. South Korea's financial crisis continues to unfold. The South Korean won's trend is also showing a downward trend. All this made Julian Robertson and others undecided.

Fortunately, at this time, compared to the average price of their shorting, Tiger Fund is still profitable in shorting the won, even if the won rises in the short term. It will not hurt their foundation at all. Therefore, after repeated trade-offs, Julian Robertson decided to remain short-selling, but not as ferociously as before.

"What?"

Billy. Kim was one of the managers in charge of the won, and just when he thought that today was going to be another ordinary but pleasant night, the trader's shouts awakened his wonderful fantasy. With a furrowed brow, Billy. Kim clicked on the won page and carefully checked the transaction history, and couldn't help but gasp.

"Who is this? What do you want to do? "Billy. Kim's first reaction was whether this guy was crazy, knowing that the market has now called out that the lower limit of the won is 2,000 won to 1 dollar, and the prospects for the South Korean currency are infinitely bearish.

"Eat it and let them regret it!" Only pondered in his mind for a few seconds, Billy. Kim decisively gave the order to take over. Although Julian Robertson did not give much of a deal amount, he did use tens of millions of dollars to wield Billy. Kim is still there.

Soon the traders faithfully executed Billy. Kim's order, but it was too late by this time, because other institutions also rushed to sell the won, and in the end, after the big deal was closed, the Tiger Fund only succeeded in selling a few million won of a few million won.

"Look at the board carefully and don't miss the next opportunity!" Seeing this scene, Billy, who was very annoyed. Jin said viciously to the traders, and at the same time scolded in his heart, "I don't know which fool Lu Dao is, he chose to close the position at this time, wait, I will eat as much as you have." ”

Almost at the same time, Zhong Shi suddenly sneezed, rubbed his nose and laughed at himself, "Wouldn't it? Does anyone miss me? What's going on now? ”

For Zhong Shi's stinky beauty, the traders turned their faces sideways and laughed secretly, and it took a long time before someone replied: "Zhong Sheng, our buy orders have all been filled, and now the won has rebounded slightly, and the price is floating around 1589, what should we do next?" ”

"The $25 million sell-off directly pulled the won up by more than a dozen levels, which is a bit worrying about liquidity!" Zhong Shi tilted his head and thought about it, then snapped his fingers decisively, "Release another 800 billion buy order to see what will happen now?" ”

The traders glanced at each other, and then looked at Zhong Shi's expression, although it was very relaxed, but it was not frivolous, and he did not speak loudly, but there was a kind of decisiveness that could not be ignored. Despite their disagreement with the near-provocative purchase amount, they strictly followed Bell Stone's orders.

After the ferocious buying of the won in the market a few minutes earlier, it was not long before the buying of the won appeared again in the foreign exchange market, this time with a more ferocious and larger amount, and almost instantaneously cleared the small selling orders hanging on it, pushing the won to the 1570 level.

"Here we go again! Not again! ”

Billy. Kim took a closer look and found that there were once again buying orders in the market with a purchase amount of 2 billion won. Seeing this, he was greatly surprised, just snapped his fingers to the sky, and the traders who had been ready for a long time immediately crackled on the keyboard to type instructions, and soon Tiger Fund began to gradually absorb this batch of chips.

The rest of the market was stunned by the rapid number of transactions, and they soon realized that there were two powerful institutions fighting each other, and behind them represented their dichotomy on the market. However, when the South Korean government reversed its word, most people chose to continue to short and began to eat away at the buying in the market.

The other party is directly and blatantly provocative in the market with the same purchase amount, and the other is silently open his mouth to swallow the thrown buy order, both sides are strong, and the amount of the transaction is larger than the other, which makes most of the traders frightened and feel enthusiastic at the same time, it is definitely not common to witness two masters fighting, and soon they joined the war group one after another.

On the Quantum Fund side, seeing that the selling team was getting bigger and bigger, the Korean with a short nose and small eyes grinned happily. It didn't take long for him to realize that he seemed to be ignoring something.

"That's not right!" Traders report the number of deals all the time, and their voices are loud and crisp, which vibrates the eardrums. Triumphant Billy. Kim nodded to himself as he listened, and the smile on his face was about to bloom. But just when they were about to break through $10 million, an idea suddenly popped into his mind, as if a basin of cold water had been poured on his head, which suddenly made him sober up.

"The other party's behavior is too suspicious, if it is to close the position, then it means that this short-selling institution is not optimistic that the Korean won will continue to fall in the future, but we have not received relevant news, is there anyone more awesome than us?"

"If it's an institution, they've sold tens of millions of dollars of positions so far, and there shouldn't be a lot of money in the market that can do that. But if it is not an institution, there will never be a buy order with such the same lot size. What's going on? Why would you buy so blindly? ”

The more you think about it, the more confusing it becomes, Billy. At this time, Jin realized that the other party sold regardless of the market, and even each transaction was the same amount, not hesitating to expose the behavior of an institution.

"Let's stop for a moment!" Bittersweet Billy. Kim could only put aside the doubts in his heart, just hastily sold about 16 billion won, and ordered the traders to stop in time.

Although the Tiger Fund has stopped, the enthusiasm of the market has been fully mobilized, and all people or institutions who are not optimistic about the future of the Korean won, even including local Korean banks, are frantically selling the won spot, which makes it extremely easy for Zhongshi to close the position. By the end of Asian trading hours, he had bought a total of nearly 800 billion won in spot on this day, spending about 500 million US dollars, and reducing all his positions by 10% at once.

By the end of the day, the won closed at 1,565.9 won per dollar, down 7.7 percent from the previous session. Even if Jong Seok and others go all out to buy in the market, the bearish atmosphere is still very strong, and the information in South Korea is really not strong, so it can only be such a result in the end.

According to the previous position of 980 won to 1 US dollar, to the average level of 1570 won to 1 US dollar on this day, that is to say, it only cost 200 million US dollars to buy back the original 500 million US dollars to buy back the KRW spot, this transaction made as much as 300 million US dollars, and the 60% yield made everyone up and down the Tianyu Fund laugh from ear to ear.

"It's not a good feeling to be besieged!" Only Zhong Shi still had a calm face, and after wiping his hair in a chic manner, he grinned and sighed. (To be continued......)

PS: Thank you very much for the heart of the book friend, it wasn't me last night, topdown, and July Liuyan voted for the monthly ticket support! The author has worked the number of words in the past two days, and I hope that more book friends can support this book, thank you!