My fintech empire.

The turnover of the SGX market exceeded one trillion near the end of trading, a significant increase of nearly 4000 billion compared to yesterday. The SGX 50 Index's increase also expanded to 3 percentage points, filling the downward gap on May 5.

Investors are becoming increasingly optimistic about this market, and their confidence has been boosted once again. The substantial increase in trading volume is the best intuitive reflection of this.

By the end of the day, the SGX 50 Index closed at 3.32 points, up 5282.50%, and the SGX market's turnover for the day was 10284 billion. Compared with the recent bottom of 4875.15 points, the cumulative rebound has reached +8.35%.

The next day, Thursday, the New Securities 50 Index closed up +0.89% and closed at 5329.67 points after the market, regaining the 5300 point mark. In the following week, the New Securities 50 Index fluctuated sideways around the 5330 point level.

Fang Hong has also been paying attention to the "little story" in the market recently. Recently, due to the new delisting rules in the Singapore Exchange market, several listed companies that refused to sign the supplementary agreements were very happy.

As expected, 15 stocks including Yiou Stock have hit the limit down for eight consecutive days in the past eight days. The share prices have been halved and have not been released yet. The limit down for stocks that have not been ST is 10 percentage points, and the limit down for stocks that have been ST is -5%. After eight limit downs, the cumulative decline has exceeded 8 percentage points.

Although ST stocks fell less, it only took extra time to reach twice the limit down.

Those who hold these stocks, especially those who speculated on Yiou shares in the short term, are regretting their decision now. If they make a wrong move, the price they pay is a halving of their starting position.

During these eight days, the 15 listed companies that refused to sign increased their exposure, and as a result, some scandals were dug up and quickly spread on the Internet. It can be said that when a wall falls, everyone pushes it down. Several companies such as Jinhui Group and Yiou Shares collapsed ahead of schedule.

Some of the revelations are true, but more often than not, there are a lot of true and false news flying around.

……

Friday, June 6.

Two hours after the afternoon market closed, Fang Hong called Tian Jiayi to his side and instructed: "Give a heads-up to the SGX, and at the same time, give a heads-up to all the major Internet platforms under the Galaxy Group, and crack down on stock market smear campaigns."

Fang Hong added: "Internet platform channels such as WeChat Moments, public accounts, Weibo, Yixing Video, Toutiao, Douyin short videos, etc. can no longer allow stock market essays to run rampant."

Tian Jiayi nodded.

Obviously, this matter cannot be ignored, because it has begun to affect the SGX market. If it is only played in the two neighboring markets, Fang Hong will not bother to care. But the importance of SGX is self-evident. This is to compete with magnesium stocks. Now it has begun to spread to this market, and Fang Hong can no longer tolerate it.

Compared with the common stock market rumors in previous years, the current "stock market essays" seem to be well-organized and serious, and are extremely deceptive and confusing, making it difficult for even some professional institutional investors to distinguish between the truth and the false, not to mention some retail investors. When spread and fermented through new Internet media such as WeChat Moments, Weibo, Toutiao, and short videos, it is easy to quickly stir up a thousand waves and trigger a butterfly effect.

Today's stock investors are basically Internet users, and the influence of many Internet new media platforms is growing. The speed of information dissemination and fermentation is measured in hours or even minutes.

Technology is a double-edged sword. Matrix quantum has promoted the rapid development and popularization of AI technology. Some people have started to go astray by using emerging technologies.

Nowadays, with the support of AI technology, the threshold for generating "short essays" has been greatly lowered, and "short essays" can be intelligently mass-produced through one-click sketch generation. This is the biggest difference from traditional stock market rumors, and the impact is also astonishing.

With the help of AI technology, you only need to set a few keywords to generate an "exclusive insider information" that looks rich in content but is actually fictitious. The time and economic costs are almost negligible.

Every emergence and reversal of rumors disrupts normal trading, shakes investor confidence and destroys market order.

Some good companies have suffered from "small articles" that caused their stock prices to plummet, and they have to spend time and energy to explain themselves to the market and to sue for rights. Problem companies and those who make illegal profits are just trying to increase shipments and raise funds, using small articles to stimulate the rise and fall of stock prices, and then manipulate stock prices.

Investors often hold the attitude of "it is better to believe it exists than not to believe it", and they can easily fall into the trap.

At this moment, Fang Hong paused for a moment and said, "Artificial intelligence technology is developing rapidly. It is true that technology is a double-edged sword, but technology itself has no stance or right or wrong. The key is who uses it and how they use it. To crack down on small essays, we should first find the person who tied the bell and defeat magic with magic."

After thinking for a moment, Fang Hong added: "Matrix Quantum has so many high-tech companies under the Galaxy Group. We need to work together to promote the application of big data as soon as possible, and use new technology tools such as AI and blockchain to strengthen the ability to search, track and capture capital market information. We need to open up full-link information cooperation with the SGX and increase identification and crackdown efforts."

……

Fang Hong has made the final decision on this matter, and it is being handled very quickly. All the major Internet platforms under Qunxing Star System received the news and learned that this was an instruction that Fang Hong attached great importance to and made personally. It was indeed several levels higher than ordinary matters, and the people below would give it priority.

Two days later, on the weekend evening of June 6, the SGX issued a major announcement, which was the governance measures for the "stock market essay".

It did not attract much attention that evening, but around eight o'clock the next morning, major media, especially new Internet media, began to quote and report the announcement of the SGX, quickly spreading the news.

When investors saw the news, they basically gave overwhelming support.

According to the information in the announcement of the SGX, once a "stock market essay" is discovered, the interest chain and industrial chain behind the scenes must be unearthed, and a heavy blow must be struck without any leniency. A strike against one will deter the rest. All kinds of behaviors that use advantages such as technology, information, and shareholding to disrupt the market and make illegal profits must be kept under close scrutiny and struck as soon as they are discovered.

The news from last night spread quickly this morning and was seen by a large number of investors. There was another important factor, which was that Fang Hong posted a message on his Weibo account in the morning.

Fang Hong forwarded the announcement released by the Singapore Exchange last night. While forwarding and liking it, he also publicly criticized the Internet platforms under Qunxing Group.

[There are many reasons for the proliferation of stock market essays. The lack of effective management and control over these Internet platforms, such as Toutiao, Weibo, Moments, WeChat, Douyin, and public accounts, is one of the many reasons. The attitude of indifference or nonchalance has fueled the situation.

Platforms should take responsibility, and large platforms should take on greater responsibilities and take proactive actions. They should combine new technology tools to establish a set of efficient full-process work norms for monitoring, discovering, and handling rumors, and timely update technical means to accurately identify rumors and stop them, nip rumors in the bud, and cut off the information dissemination chain and interest chain of "small essays" from the source. 】

...(End of chapter)