The Son of Finance of the Great Age

  Chapter 370 Making things worse

  Because of news of bird flu and other news, the Hong Kong stock market plummeted on January 7, falling below 10,000 points in one fell swoop, a drop of 5.89%.

It must be explained that since the sharp drop in October 1997, international speculators have never left the Hong Kong stock market. Although they made waves in South Korea, Indonesia and other places, it was only a short-term shift in operational focus, not to let Hong Kong go. .

In fact, after the Hong Kong stock market fell to a record-breaking 8,775 points, the funds of international speculators, together with funds from other trays, used multiple accounts to frantically buy Hang Seng heavyweight stocks. After all, the price at this time was too cheap. After the hype, they found that it is difficult to leverage the market index without a certain weight of shares on hand. So in this case, together with the rescue funds, they created a situation where the Hang Seng Index rebounded wildly in a short period of time.

   It’s just that this rebound is short-lived and difficult to capture. After all, the funds of international speculators are not purely for long Hong Kong stocks. The current environment in the entire Asian region is not good. The Hong Kong stock market fell again after briefly rushing up to 11842 points, and then it has been hovering around 10500 points.

   Today's decline has once again awakened investors' fear of the plunge in Hong Kong stocks. In fact, due to the massive selling by international speculators during the day, it has indeed created a part of the phenomenon of following suit. However, due to the extremely rapid response measures of the Hong Kong government, some investors also waited and waited, and did not fully join the selling trend. Otherwise, it would definitely not be as simple as just falling by more than 500 points.

  However, the drop close to 600 points is enough to make investors panic and restless, especially the Hong Kong stock market has fallen back below 10,000 points again, which has cast a haze on the minds of almost all long investors. Under such circumstances, it is natural that rumors abound, such as the Hong Kong government's intention to raise interest rates, how many deaths from bird flu, and the fact that Peregrine will go bankrupt. , but these rumors have more or less contributed to the decline in the broader market.

In Tianyu Fund, since all the short positions were established yesterday, Zhong Shi only left two traders to operate the positions from time to time, and the others worked **** the phone with Ma Jiarui, everywhere. Ask if anyone needs Rupiah.

The total amount of Indonesian rupiah held by Tianyu Fund is as high as 7 trillion. Due to the continuous decline of the Indonesian rupiah during this period, there are basically no buyers in the market. Hold it, otherwise it must be the same as Soros now, losing money to the point of not being able to bear to look directly at it.

Although traders have worked extremely hard to sell in various markets during this period, due to the limited liquidity, even up to now, they have only sold about 1 trillion Indonesian rupiah, which is equivalent to the market price of US dollars. 130 million. This number is really too small, but the market is like this, and they have nothing to do.

   "Zhong Sheng, do you think international speculators will attack Hong Kong again at this time?"

  Because there are not many things going on recently, Zhong Shi did not sit in his spacious office, but came to the trading floor to work with the left-behind employees. Although it is said to be doing things, it is basically no different from chatting. Everyone sits around and chats, and occasionally makes a phone call or something.

  After hearing Ma Jiarui's words, everyone who had been sluggish immediately revived their ears and waited for Zhong Shi's answer. There is no doubt that this is a very sensitive topic, so sensitive that everyone is interested.

In fact, there is no need to answer. Zhong Shi bought a total of more than 8,000 short positions in the Hong Kong stock futures index for the current month. In order to hedge, he bought more than 500 long positions in February and bought more than 500 long February options at the same time. , the direction and key points are clear at a glance, self-evident.

   On this day, Zhong Shi’s harvest on the Hong Kong stock futures index reached more than 200 million Hong Kong dollars, which almost stunned everyone. Although they have already seen Zhongshi's gold-absorbing ability, every time Zhongshi's performance still gives them an eye-opening feeling.

"If it were you, you would definitely choose to attack Hong Kong again at this time!" Seeing so many pairs of eyes staring at him unblinkingly, Zhong Shi felt slightly embarrassed, and after touching the tip of his nose, he slightly Sighing imperceptibly, he said softly.

   "So, the Hong Kong stock index will continue to fall?" As soon as he finished speaking, an impatient trader jumped out and asked.

  The speaker is called Lu Dawei, and his colleagues call him David on weekdays. He is a handsome young man, and he has not been in Tianyu Fund for a long time, so he still needs a lot of money.

Hearing his urgent questioning, everyone who knew him laughed in a low voice. It turned out that this guy had several girlfriends outside, and his private life was a mess. In addition, he was extravagant on weekdays, which could be described as spending money like dirt, so Although he made a lot of money, he was not well off. Under such circumstances, he would naturally not let go of every opportunity to make money.

   Zhong Shi, Ma Jiarui and other high-level officials naturally didn't know what these people were like in private. Looking at the malicious smiles of this group of people, the two looked at each other in unison. Ma Jiarui was about to say something, but was stopped by Zhong Shi, "Yes, according to my judgment, the Hong Kong stock market will continue to fall. If any of you are willing to short the Hong Kong stock futures index, now is the time."

   Naturally, Zhong Shi would not object to their behavior of making extra money. In fact, the operation this time is mainly because it is his private behavior and has nothing to do with Tianyu Fund, otherwise it is an outright mouse warehouse behavior.

  As soon as they heard Zhong Shi's words, everyone's faces showed mixed expressions of surprise. They naturally understood what Zhong Shi's statement meant. To a certain extent, this was a naked act of giving money. Immediately, everyone shouted loudly, venting their joy.

   It's just that their joy didn't last long, and a sudden news made them immediately put into a state of tension, "There is an abnormality in the Indonesian rupiah, and a seller in the market has quoted a price of 7,500!"

  Since the Korean crisis was suspended last year, speculators have begun to move to Indonesia, frenziedly shorting the Indonesian rupiah. In fact, this cannot be blamed on international speculators. The role played by the Indonesian government in this crisis is crucial. First, it was revealed that the IMF’s rescue funds were embezzled, then it was secretly distributed to Suharto’s cronies, and then it was rumored that someone smuggled Rumors such as gold going abroad and imminent turmoil, etc., although the Indonesian government refuted these rumors one by one, the exchange rate of the Indonesian rupiah in the market is declining day by day, and the official statement is of no help at all.

  In just a few days, the Indonesian rupiah has fallen to the level of 1 US dollar to 7,000 rupiah. Even so, the market is still bearish on the outlook of the Indonesian rupiah. To put it bluntly, if it weren't for the free-floating exchange rate system, a few Indonesian central banks and several times the foreign exchange reserves would have been washed away.

  The quotation of Indonesian rupiah on this day is still hovering around 7,000. Due to the extremely inactive market and the small transaction volume, the quotation is basically in a state where no one cares about it. But now that the price has dropped so much all of a sudden, there must be something unusual in the market.

  And once there is an unusual phenomenon in the market, it means that the opportunity has come. In this sudden situation, there will naturally be two factions with different views. Although the views are different, both parties will undoubtedly believe that their judgment is correct. Under this persistence, the two parties will wrestle in the market, and the ensuing increase in trading volume and opportunities will follow.

By the time everyone gathered in front of the trader who made the noise, the buyer had quickly swallowed up the sale order with an amount of 1 billion rupiah. Obviously, this kind of sale far exceeding the market price was the most popular. Buyers welcome, they cannot miss this opportunity.

   "What... what's going on here?" Everyone looked at each other, seeing the quotation return to around 6990. For a while, no one understood what was going on, and they just stared at each other.

After a full minute, someone said, "Is it because a certain trader mistyped the quotation, and then reported such a number, or it can't be explained at all? Or, please ask a familiar trader Officer, see what happened just now?"

  Since I am puzzled, I can only inquire about relevant news. So these traders returned to their seats and began to make frequent phone calls. Not long after, these people gathered together again to discuss the news they had inquired about. To their surprise, after inquiring around, there was no valuable news at all, and the other traders didn't know what was going on. What happened.

"No, something must have happened." Just as they were discussing in a hurry, Zhong Shi also came over, and after listening for a long time with frowning eyebrows, he suddenly said, "If the trader reported the wrong price for a while, It makes sense. But you see, there are suddenly a large number of selling orders in the market, and the prices are getting lower and lower. This phenomenon shows that the quotation just now is definitely not accidental."

When a group of traders looked at the computer screen again, they were surprised to find that there had been a queue in the buying column since no one knew when, and the amounts were quite large. One low, and almost in the blink of an eye, the latest quotes for the Indonesian rupiah broke the 7,000 mark.

"Sell! Sell quickly!" Just when everyone was dumbfounded, Zhong Shi was the first to react and shouted, "Sell quickly before the market reacts, maybe there will be buyers to take over. If this opportunity is missed, it may be too late."

Soon, everyone else came to their senses and quickly sat back in their seats. Those who placed orders via computers tapped the keyboard, and those who placed orders via telephone picked up the microphones. For a while, there was a loud noise in the trading hall, and all the traders shouted. Get busy in a hurry.

"What happened?" While everyone was busy, Ma Jiarui walked up to Zhong Shi without saying a word, and stared at the screen for a long time, but he couldn't see any mystery at all. Out of curiosity, he asked.

  Zhong Shi didn't make a sound, but shook his head slightly, his face was solemn, and his eyes were fixed on the exchange rate of Indonesian rupiah on the disk.

In this way, it was finally busy until the Indonesian foreign exchange market closed, and the traders breathed a sigh of relief. After discussing the gains and losses of the trader together, they were surprised to find that they sold a full 30 billion Indonesian stocks on this day. Shield, this number is several times higher than usual.

  In the end, the exchange rate of Indonesian rupiah against the US dollar stayed at 7600, a drop of 10.14% throughout the day. Although this figure was already expected by the market, it still caused quite a shock.

   Soon, news about abnormal fluctuations came. The US credit rating agency Moody’s decided to lower the credit rating of the Indonesian government to “junk”, which means that there are huge risks in both the Indonesian government’s bonds and currency. And the institutions that sold first in the intraday, naturally got the relevant news in advance.

The slump of the Indonesian rupiah has caused a chain reaction, and Peregrine, which is in deep trouble, is the first to bear the brunt. Since Peregrine has a large amount of investment in Indonesia, these investments are likely to be re-established due to the depreciation of the Indonesian rupiah and the downgrade of Indonesia's rating. I can't get it back either.

   It seems that Peregrine is really at risk of going bankrupt!

   Thanks to the book friend Wuyue Daowei for supporting the monthly ticket! It's very weak at the moment...the situation is so sluggish...it's really horrible...I hope everyone will support me a lot, please~

  (end of this chapter)