Monday, October 19, 1987.

Wall Street was shrouded in clouds, and in the rush and dreary 'dang, dang, dang' bells, the New York Stock Exchange began a new day.

As soon as the market opened, a sense of foreboding hit everyone on the trading floor: the Dow Jones Industrial Average fell 67 points at the open. In the blink of an eye, there was a surge of selling orders. Under the pressure of the swarming rolling selling, all the red disks (falling) on the screen were turned up, and there was no green wave (rising) in sight. There was a panic in the exchanges, and the futures market was in chaos.

From 9:30 a.m. until 11 a.m., the Dow Jones Industrial Average was falling, and no one knew what to do to contain the worsening situation. Although there were also proposals to close the market, no one dared to make a decision. The New York Stock Exchange was concerned about Wall Street's role as a 'weather vane' in the global stock market, so it had to desperately hold on.

At 13:09 p.m., a terrible piece of news reached the Wall Street stock market, and the chairman of the Securities and Exchange Commission, David Luther, speaking in Washington, said: "At a critical moment, although we do not know when this critical moment will be, I will discuss with the stock exchange the temporary closure of the exchange." ”

The news caused even more panic, because once the exchange was closed, traders would not have time to dump their stocks, their shares would be worthless, and thousands of dollars would be reduced to ashes. As a result, they had to quickly 'dump stocks'. By 2 p.m., the Dow Jones Industrial Average was down 250 points, the stock had changed hands by more than 400 million shares, and the computer was 100 minutes behind the actual trading speed.

During this time, officials of the Securities and Exchange Commission came forward to clarify: they did not discuss anything about the closure of the exchange. However, it was too late, and the catastrophe could not be stopped.

At the end of the day, the Dow Jones Industrial Average fell 508.32 points, from 2246.72 to 1738.470, a 22.6% decline, the highest one-day decline. Other indices of the stock market such as the NYSE Composite Price Index fell 19.2%, the AMEX Composite Index fell 12.7%, and the NASDAQ Composite Index fell 11.35%.

The par value of a stock equivalent to $503 billion of France's annual GDP was wiped out in a single day.

The development of information technology has linked financial transactions around the world. However, the accelerated pace of financial integration has also had some negative consequences. Due to the development of global financial integration, when one stock market crashes, other stock markets are not immune.

On Black Monday, the Tokyo Stock Exchange opened with a plummeting price that saw the 225 Index fall by 620 points, or 14.9%; Hong Kong's Hang Seng Index fell 421 points, or 11.3%, and also set a record for the largest one-day decline; Singapore's Straits Times Index fell 169 points, or 12.4%; The UK's FTSE 30 index fell 183.7 points, or 10.1%, and the FTSE100 index fell 249.6 points, to 2,053.3 points, with investors losing £50 billion. In addition, the stock markets of Paris, Frankfurt, Stockholm, Milan, Amsterdam and other stock markets all fell by 6% to 11% to varying degrees, forming a shock wave of stock markets around the world.

In the face of the stock market frenzy that swept the world, local governments were shocked and quickly adopted a series of rescue measures.

Next.

At 9 o'clock in the morning, Lin Zhichao leisurely came to the Cheung Kong headquarters office in the Victoria Harbour Center.

As soon as he arrived at the office, Lin Ruihuan walked in.

"Dad, just now the stock exchange came to the news, Li Fuzhao ordered the stock exchange to close the market for four days, which means that it will not open this week, and the market will open on the 26th next Monday!"

When Lin Zhichao heard this, he said lightly: "Play the piano indiscriminately!" If you don't open for six days (including two days on the weekend), it's just a suffocation, and everyone will have to run away from the market next Monday! ”

Lin Ruihuan said: "The meaning of the Hong Kong government seems to be in favor, and some people say that it has been agreed by the Hong Kong governor. ”

Lin Zhichao said: "With or without the consent of the Hong Kong government, Li Fuzhao does not want to be re-elected as the next chairman of the Stock Exchange. He seems to be due in November, and according to his prestige, re-election was a natural one, but now it seems that there is no hope! ”

Lin Ruihuan nodded and said, "It seems that Monday is going to fall sharply." ”

He was convinced of his father's predictions.

A little more than a month before the crash, my father asked them to arrange a family office and liquidate 30% of the stocks. If it weren't for the size being too large, my father would have arranged for the clearance directly.

All kinds of behaviors show that the father's keen ability is much more beneficial than the god.

"Let's get busy, it has little impact on us, and it has little impact on the Hong Kong economy, and stocks are going up and down."

"Okay"

After Lin Ruihuan left, Lin Zhichao sat in the office and thought.

In the first half of this year, $200 billion flowed into the Wall Street stock market, and in this way, everyone's confidence was seriously damaged, and even Americans were apprehensive.

As a result, the economies of Europe and the United States will enter a 'downturn,' and it will not until the end of the 'Gulf War' that the whole world will see the might of the 'boss' and will restore confidence in the United States one after another, and the United States will also rely on the 'Gulf War' and 'Internet technology' to perform very well economically in the 90s.

Analyzing these is very useful for Lin Zhichao's family business layout.

That is, starting next year, Lin Zhichao will make a large-scale layout of overseas investment, which is called 'buying the bottom'.

Hong Kong at this time.

The media have interviewed shareholders, and the interviewees are undoubtedly worried!

Investor A: "It's good to suspend trading, you can cool down a bit." But it is not known whether the problem can be solved. ”

Reporter A: "What do you think?" ”

Shareholder A: "The root cause is that those who hold second- and third-tier stocks are too crazy to do [margin trading] (margin accounts, leveraged trading), which is the main reason. That group of people will be forced to cut their positions (there is a safety line)! ”

Reporter B: "What will you do personally when the market resumes next Monday?" ”

Investor B: "The first thing is to sell first to avoid losses!" Other than that, I don't think there's anything I can do. ”

Reporter B: "Even if the price is not ideal, will it be sold?" ”

Investor B: "Sell first to avoid losses!" ”

Citizens generally believe that the suspension of the market is correct, and the Japanese stock market next door does not stop, and it quickly fell by nearly 1,000 points at the opening on the 20th.

Before leaving work.

The assistant walked into Lin Zhichao's office: "Boss, there are a lot of reporters below, I hope you can be interviewed!" ”

Lin Zhichao understands that as the overlord of Hong Kong's business community, how can he not have his voice in the media at this time?

"Well, I'll go down at half past four."

"Okay, I'll arrange it right away!"

Security, order, all have to be arranged.

Lin Zhichao shook his head helplessly, the reporters were looking for him, he would not accept interviews today, and he would continue to be blocked under the building tomorrow.

He couldn't be silent!

After a while, Lin Zhichao came to the square in the center of Victoria Harbour, where about a dozen reporters were anxiously waiting.

As soon as he arrived, a reporter couldn't wait to ask a question: "Mr. Lin, you guessed yesterday's incident a month ago, it's amazing!" ”

Lin Zhichao waved his hand and said, "That's not guessing, but analyzing and predicting. Of course, it's not that we predicted 'what happened yesterday', but that the stock market is rising too fast, and there is a risk of a downward correction To be honest, I didn't think it was the Yankees who hurt us! ”

Everyone laughed!

Lim's humor.

Reporter: "So Mr. Lin, what do you think next Monday?" ”

Lin Zhichao: "Not too optimistic! There are too many margin accounts, and everyone wants to sell, which will cause crowding and stampede. ”

Reporter: "Does Lin Sheng have any suggestions for everyone?" ”

Lin Zhichao: "Overall, this stock market crash is affected by Wall Street in the United States, not any economic and political problems in Hong Kong, so I think the market next year is still very optimistic. For those investors who are 'spare money' investors, I advise them not to cut their positions at a low level, such as below 2800 points, and some are not very wise as long as they buy blue chip stocks, or good real estate stocks, financial stocks, etc., and they will definitely be able to recover their losses next year. If the price of the sale is too low on Monday, there will be a loss immediately. ”

Reporter: "Do you have any losses this time?" You should have cleared your position early, right? ”

Lin Zhichao: "The futures contract is cleared, and the stock is almost not cleared (the actual liquidation is 35%).But the stock book loss is not counted, I will not pay attention to which, I personally invest in stocks, all are value investments, and I will not care about the current stock price." ”

Subsequently, Lin Zhichao, under the leadership of his bodyguards, left the scene.

Don't think about it, Lin Zhichao will make headlines again tomorrow!

In the evening, Lin Zhichao came to the Kowloon Tong villa and went on a date with Li Jiaxin.

His date with Li Jiaxin is limited to private places such as villas, superyachts, high-end clubs, and hotels; However, she will also take her overseas once a year, and there is no need to think about journalists overseas.

Walking into the villa, Li Jiaming took the initiative to squat down to change slippers for Lin Zhichao, and Lin Zhichao hugged Li Jiaxin and kissed him.

The two sisters served him, but it was obvious that Li Jiaming was just adding to his head, which was equivalent to the bed warmer in the past. But Li Jiaming couldn't help it, after all, a woman who had seen an eagle would like a rooster on the ground.

"Exceeding, you are simply a stock god, talking about our liquidation period refers to the contract, otherwise you have worked hard to make money for a year, and I am afraid that you will have to lose a lot of money." Li Jiaxin said happily.

With money, everything is easy to say!

has no money, even if it is an elegant, erudite and brave man like Lin Zhichao, she will not give up.

"Wouldn't it be a shame that I can make you lose money!"

Afterwards, everyone sat down to eat together.

Wu Guofang also accepted her fate, after all, one daughter is also, and so are two daughters, if she dares not agree, I am afraid that the consequences will be

"Next week, I will inject another 50 million into the company, as long as the Hang Seng Index falls below 2,400 points, you will buy stocks, including HSBC, Hutchison, HK Electric, CLP and other blue chips. With the original funds, you can buy them all. ”

He made money, and he just rewarded Li Jiaxin, after all, others performed well - there was no trouble!

When Li Jiaxin heard 50 million Hong Kong dollars, she immediately grabbed Lin Zhichao's arm and said coquettishly: "Brother Chao, you are so good to me, aren't you afraid that I won't drink you?" ”

Lin Zhichao looked at him sideways and said, "That's okay!" Everyone has the right to choose, and there is nothing wrong with gathering and dispersing. If that were the case, I could have saved billions! ”

Wu Guofang, Li Jiaming, and Li Jiaxin's pupils were directly dilated, and they looked at Lin Zhichao incredulously.

Li Jiaxin held Lin Zhichao tightly, between the natural scale of C~D, and ravaged Lin Zhichao's shoulder muscles.

"Brother Chao, what do you mean billions?"

"Of course it's a little meaning, when you give birth to a child for me, I will naturally be more generous. I can't let your mother and son live too poor in the future! ”

Li Jiaxin said beautifully: "I hate it, I'm talented"

Lin Zhichao said: "It's sooner or later! ”

Li Jiaming, who was opposite, suddenly darkened, I don't know if she can have a child!

But she quickly waved away this idea, she is now a person who is attached to her sister, in the words of her mother Wu Guofang, she is an additive, don't compete with her sister for favor, otherwise she is not qualified to gain a foothold.

That night, one dragon and two phoenixes were very comfortable.

Li Jiaxin doesn't need to work too hard, Li Jiaming can also enjoy the Holy Spirit of rejuvenation, improve his face a little, and his figure is also useful.

Survive a few difficult days.

On Monday, October 26, the Hong Kong stock market opened at 11 o'clock, and the miracle did not occur, and the selling orders came one after another, and 15 minutes later, the Hang Seng Index had fallen by more than 650 points.

Obviously, Hong Kong stocks are going to become the world's largest stock market.

The main reason: Hong Kong people are too fond of 'gambling', there are too many margin accounts, and they are all highly leveraged investments for financing, which is either in a hurry to flee or directly sold by banks/securities companies.

If the main stock holders are investors with spare money, they may not rush out or even look at their stock accounts.

After falling by 650 points, the Hang Seng Index has fallen by 1,200 points before and after, and it is already below 2,800 points. At this time, many rational investors began to pay attention to Lin Zhichao's words and chose not to reduce their positions, and the stock market also played a certain stabilizing role.

"The stocks I bought are HSBC and Cheung Kong Group, and I will not reduce my position, so I will treat it as pension money."

"Aren't you afraid that your pension will be lost?"

"How can there be losses, where are the assets of HSBC and Cheung Kong Group, where are the annual profits, how can there be none? I believe in Lin Sheng's words, there is no need to be nervous, it will definitely rise back next year. ”

"Lin Sheng is talking about next year, so will it fall this year?"

"Panic is like this, it takes time to build confidence, and it takes a solid bottom to rise."

Lin Zhichao's words and deeds have influenced many people. Of course, it's the subtleties that change, and it doesn't affect the overall picture.

For example, in the previous life, the peak in 1987 was 4010 points, and in this life it is also 4012 points. Because Hong Kong's economy has increased by 5~10%, the stock market can at least 4200 points, but Lin Zhichao reminded everyone to 'be careful', which still played a great role, after all, it fell by 92 points on the day.

On the same day, the Hang Seng Index fell by a total of 1070.7 points (1120 points in the previous life), a decline of 30.33%, the largest single-day decline in the world's history; The futures index fell by 1,554 points, with a loss of 77,700 yuan per futures index at 50 yuan per point, resulting in many long futures holders unable to perform their contracts. Based on 80,000 open positions, a total of 6.2 billion yuan, far exceeding the guaranteed company's affordability.

In the evening, when the Stock Exchange held a press conference to explain the decision to suspend the market, an Australian reporter questioned whether the suspension had anything to do with Li Fuzhao's personal interests, and whether the decision was legal.

Li Fuzhao immediately became furious, pointed his index finger at the reporter, and even struck the table with his fist to demand an apology from the reporter. …… Name you, and I'll have my lawyer record it. …… I'll give you a ticket right now. …… Accuse him, take him to the police station, and send him to the police station.

During this period, the senior staff of the Stock Exchange had tried to persuade Li Fuzhao to calm down, but to no avail, a group of reporters dragged the Australian journalist out of the conference room, and the press conference ended in a loud noise. (End of chapter)