Chapter 551: Voices Strike West

Feiyuan International Hotel Hong Kong is located on Salisbury Road, Tsim Sha Tsui, Kowloon, facing Victoria Harbour. The whole hotel is called a super six-star hotel by many news media and customers for its luxurious and luxurious architecture and decoration style. The special feature of the whole hotel design is that every room in the suite has a breathtaking view of Victoria Harbour. Since its 54-storey tower towered on the edge of Victoria Harbour, it has eclipsed The Peninsula Hong Kong, once described as Hong Kong's most luxurious and famous hotel, once voted one of the world's top 10 most famous hotels.

Soon after the central team of experts stayed in the hotel, Feiyuan International Hotel Hong Kong has become the focus of global attention. The Chief Executive, Chief Secretary for Administration, Financial Secretary, Secretary for Financial Affairs, Secretary for the Financial Authority, Secretary for Police, and other prominent dignitaries of the Hong Kong Special Administrative Region Government, as well as Commander of the Hong Kong Garrison, Liu Zhenwu, came to the hotel to meet with the expert group and held secret meetings. At the same time, in order to ensure the safety of the members of the expert group, the police dispatched a large number of elite security personnel, took over the security system of the hotel, and completely cordoned off the entire floor where the expert group was located.

Except for a few dignitaries and a handful of members of the entourage of the SAR Government, no one participated in the secret meeting, and no one knew what kind of countermeasures and plans had been reached between the members of the expert group and the Hong Kong Special Administrative Region Government. However, even so, it is not difficult for those who are interested to imagine that this will be the strategic headquarters of the central government and the Hong Kong government to face the "quantum fund" and international speculators, and defend the financial market and order in Hong Kong, and even the front line. As a result, there are countless journalists and media professionals who gather here, and it seems that they are all expecting to get breaking news here. If it weren't for the hotel's tight security, I don't know how many people would have managed to get close to these panelists with their heads sharpened.

Almost all of them are ready to face the battle, but the market is calm, and there is no sign that the "quantum fund" and international speculators have made any moves, and even the Hong Kong dollar futures contracts that are already known to be bought by international currency speculators in large quantities have not made any changes. This situation has been going on for more than a month, not to mention all walks of life in Hong Kong, and even the members of the nervous expert group are inevitably a little slack, and even wonder if they are a little too worried.

With the mainland government as a strong backing, even the notorious "financial predator" Soros has to think twice, right?

With such a fluke mentality, the management of the expert group is not so strict, and even many team members sneak out of the hotel to play or shop, Liu Ningqiang and Ge Hongrui also turn a blind eye to this, anyway, there is nothing to do, it is normal for people to come to Hong Kong once, and it is really human nature to go around, you can't be trapped in the hotel all day long, it's like going to prison, right?

On this day, Liu Ningqiang was swimming happily in the swimming pool of the hotel, and at the same time sighed, this Hong Kong Feiyuan International Hotel is different, all kinds of conditions, facilities and supporting services, which can be called the world's top level. As the deputy governor of the central bank, Liu Ningqiang has also been to many countries and stayed in various luxury hotels, but compared with Feiyuan International Hotel, it is still much inferior.

After swimming back and forth a few times, Liu Ningqiang felt refreshed. He was born on the edge of the Yangtze River, soaked in the Yangtze River since he was a child, the water nature can be described as excellent, and he also loves swimming, and he feels uncomfortable if he does not swim a few times a week. Don't look at your age now, but when it comes to swimming, you don't lose to young people at all.

Feeling that he was almost finished, Liu Ningqiang got up from the pool, wiped it indiscriminately, and was about to go back to the room, when he saw Ge Hongrui hurriedly coming over, his face was a little solemn, and he seemed to be nervous and anxious.

"Director Ge, is there something wrong?" Liu Ningqiang hurriedly asked, slightly surprised in his heart. As the chief financial adviser of the Central Committee and the State Council, Ge Hongrui is very dignified and calm on weekdays, and he is not impatient in doing things, and he has the bearing and demeanor of a scholar, but what happened to him today, can he be so out of shape?

Liu Ningqiang seemed to have a faint sense of consciousness in his heart.

"Governor Liu...... Yes...... There is movement......" Ge Hongrui seemed to be in a hurry, and he was out of breath when he spoke: "Soros and international speculators have ...... hands"

"Well, it's finally here! What's the situation now? Liu Ningqiang's eyes flashed with excitement. After holding it for so long, it's better to finally see the real chapter than to suffer in waiting.

However, apparently Ge Hongrui was not as excited as him, his brows were furrowed, and he said in a deep voice: "Just like when the Thai baht was sniped, the Hong Kong dollar has been sold off a lot, and the ratio to the US dollar is falling rapidly. ”

Liu Ningqiang didn't care about changing his clothes, waved his hand, and said, "Let's go, go back to the room, and immediately notify everyone to come back for a meeting." ”

The situation is indeed dire. Completely different from the first exploratory offensive in August, this time, it seems that the "quantum fund" and a large number of surging international speculators are relying on the abundant funds, and they have not left any hands, and all of a sudden it is a sharp punch, and the emergence of a large number of selling orders has caused the Hong Kong dollar exchange rate of the major exchanges to plummet, and soon fell to around the psychological mark of 7.75.

The Hong Kong government has achieved a fixed exchange rate system that closely follows the US dollar, which is very beneficial to stabilizing the financial market and promoting Hong Kong's economic development. Over the years, the exchange rate of the Hong Kong dollar against the US dollar has been relatively stable, and this exchange rate has become a barometer and reference for the stability of the financial market.

As a result, the continuous decline in the exchange rate of the Hong Kong dollar against the US dollar has suddenly caused chaos in Hong Kong's financial market.

A few months ago, the financial turmoil swept across Southeast Asia, leaving many middle-class bankruptcies overnight, and the once wealthy and decent families turned into abject poverty and even debt. These bloody realities have struck the nerves of the Hong Kong people from time to time. With the painful lessons of these neighbors, the citizens of Hong Kong are like frightened birds, already panicking, fearing that the same bad luck will befall them, and their psychological endurance has become extremely fragile. As a result, as soon as the financial markets showed signs of collapse, citizens immediately became chaotic and rushed to the major banks to run on the Hong Kong dollar, which was plummeting, for dollars.

The experience of Thailand and other Southeast Asian countries shows that the Hong Kong government will sooner or later be unable to resist the impact of extremely powerful arbitrage funds and international travel funds, and will abandon the fixed exchange rate. As a result, their hard-earned savings will shrink significantly. Therefore, everyone wants to hurry up and exchange their coins for dollars in order to preserve their value.

For the first time since the implementation of the fixed exchange rate, the Hong Kong dollar has been in a hurry.

As a financial city, the stability of Hong Kong's financial market is crucial to the economy of the entire market, and maintaining a fixed exchange rate is to maintain people's confidence. The Hong Kong Monetary Authority (HKMA) reacted swiftly and under the coordination of the expert group, mobilized Hong Kong, Chinese and British investors to enter the market urgently, forcibly intervened, accepted a large number of Hong Kong dollar selling orders, and launched an attack on its opponents.

As a result of the strong intervention of the SAR government, the Hong Kong dollar exchange rate began to stop falling and rebound, and the run on the doors of major banks was temporarily eased.

However, just two days later, a larger number of selling orders poured into the market, and the Hong Kong dollar exchange rate fell below the psychological barrier of 7.75 in one fell swoop, and fell rapidly. The run on the government, which had just eased slightly, reappeared and became more intense than the previous one, so much so that the SAR government had to dispatch a large number of police forces to maintain order and urgently allocate positions to deal with the run and avoid the collapse of banks.

However, just when the SAR government and the expert group mobilized about 100 billion Hong Kong dollars to invest in the foreign exchange market to stabilize the exchange rate of the Hong Kong dollar, the stock index fell sharply at this time. The Hang Seng Index fell sharply from 10,000 points to 8,000 points and headed for 6,000 points. Speculators took the opportunity to spread rumors, threatening that "the renminbi cannot withstand it and will soon depreciate by more than 10 percent," "the Hong Kong dollar is about to decouple from the US dollar and depreciate by 40 percent," and "the Hang Seng Index will fall to 4,000 points." The "tear down" trend is shocking.

At this time, everyone suddenly realized that Soros and international speculators were only attacking the Hong Kong dollar on a superficial level, not only aiming to make a profit on the exchange rate of the Hong Kong dollar, but also adopting a comprehensive strategy to benefit from the stock market and the futures market, and the stock market and the futures market were the real main targets.

The Hong Kong dollar implements a linked exchange rate system, which has an automatic adjustment mechanism and is not easy to break. However, the Hong Kong dollar interest rate is prone to a sharp rise, and the sharp rise in interest rates will affect the sharp decline of the stock market, so as long as you sell short in the stock market and futures market in advance, and then borrow a large amount of Hong Kong dollars from banks, so that the Hong Kong dollar interest rate rises sharply, causing the Hang Seng Index to plummet, you can make speculative profits as in other countries. Soros and international speculators once again sniped at the Hong Kong dollar through hedge funds to push up the interbank interest rate and interest rates, and when the Hong Kong government took measures to raise interest rates sharply in response to the sniping of the Hong Kong dollar, the stock sentiment weakened, and people were worried that the sharp rise in interest rates would push down the stock market and the property market. As a result, people in the stock market panic and panic sell stocks, and speculators can close their short positions and make huge profits. In other words, even if they have failed to return to the Hong Kong dollar exchange rate, or even suffered a small loss, they have made a lot of money in the futures index market.

While depressing the Hang Seng Index, international speculators have accumulated a large number of short positions in the Hang Seng Index futures market. For every 1-point drop in the Hang Seng Index, you can earn HK$50 per short contract. In the 19 trading days of this short battle, the Hang Seng Index fell sharply by more than 2,000 points, and each contract can earn more than 100,000 Hong Kong dollars, which is jaw-dropping.