No new changes occurred, and U.S. stocks fell sharply at the opening.
It was not until the next morning, Hong Kong time, that news came out that the Federal Reserve had taken action and convened a meeting of the heads of major Wall Street companies in Lower Manhattan, hoping that they could rescue the troubled investment banks and formulate new policies to stabilize the market.
.
Waiting until night again, the U.S. stock market continued to decline.
The reason is that several large companies have publicly stated that they are not interested in Merrill Lynch, Lehman Brothers and other companies and will not infringe on the interests of shareholders.
Companies in the market are unwilling to help, and the Federal Reserve and Washington are unable to do anything. Of course, there is panic in the stock market.
On the contrary, the A-share market stood out. Under Su Yehao's guidance, it experienced an independent market trend, with the Shanghai Composite Index only falling slightly by 2%.
Of course.
The component stocks that performed well were supported by Su Yehao's intervention. Other small and medium-sized listed companies that had poor performance or had no concept to hype still fell miserably.
As Bank of America and Barclays successively withdrew from negotiations and once again made it clear that they would not help, Merrill Lynch's share price evaporated by 55%, and Lehman Brothers' share price fell by as much as 73% in just three days.
There are many other companies deeply affected by subprime mortgages, but the Federal Reserve only spent 70 billion US dollars to rescue insurance companies and avoid a run on the banking industry due to the inability to pay compensation, causing more serious damage.
As the credit market almost stopped functioning, a large amount of money poured into U.S. debt, gold and other markets. The stock prices of Internet companies such as Yaoji and Google rebounded rapidly with an astonishing momentum.
In the current situation, whoever has more cash will be safer. Su Yehao is a well-known "cash king".
Coupled with the fact that the Internet industry was less affected, and supported by good news about 3G, bargain-hunting funds continued to pour in, which gave Su Yehao a huge boost, and his net worth rebounded by more than 20 billion US dollars in one trading day.
Wait until the market is closed on the weekend.
While others were still waiting and watching, Su Yehao asked Lin Youfeng, the North American head of KOKO Venture Capital, to make a low-key trip to Washington, proposing to acquire Merrill Lynch as a whole for US$15 billion, divest the bad debts, and then reorganize the company.
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As for Lehman Brothers, it was already insolvent and had no assets worth absorbing.
Before the new trading day, with the help of Washington, the acquisition was quickly negotiated for US$16 billion.
Mainly Merrill Lynch shareholders were worried that the market would plummet further and the company's funds were exhausted, so they tended to stop losses in time and decided to sell within just six hours.
Wait until the new week comes.
The U.S. stock market continues to be dead, bad news continues to ferment, and the news of Su Yehao's acquisition of Merrill Lynch is not enough to reverse the situation.
It was not until Wednesday that the Treasury Secretary finally belatedly offered a $750 billion subprime bad debt buyback plan.
This is news that Su Yehao has heard a long time ago. He also heard that this plan will be blocked with all his strength, and it is almost impossible to pass it in the short term.
So there is nothing to worry about in the short term. When the market's expectations are disappointed, it will destroy investors' confidence and make things worse.
For him, a big short seller, it seemed like a good thing.
Zheng Yongwen and the others hoarded junk subprime mortgage financial derivatives at low prices and sold them at a higher price, thus helping Su Yehao earn more than 400 million US dollars.
Including other income from short selling, the total income of this short team soared to more than 8 billion US dollars in just a few trading days.
Standard Chartered Bank, which Su Yehao has been eyeing for a long time, has a market value of about the same.
He has sent people to contact the bank that is facing difficulties. If the board of directors of Standard Chartered Bank agrees to the acquisition plan of privatization and delisting according to the market value of the day, it will almost be like picking up a bank for nothing...
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The financial tsunami swept across the world and caused serious damage.
It's probably because some people are too busy taking care of themselves that they don't have the extra energy to make things happen. As the Olympics are approaching, the mainland is relatively calm.
It’s time to enter August.
Until August 4, 2008, the U.S. bailout plan was still in trouble and was rejected by a widely disparate vote.
Standard Chartered Bank finally couldn't bear it anymore and agreed to Su Yehao's acquisition invitation overnight.
The Shanghai Composite Index still remains at around 2100 points. Su Yehao's personal and family trusts have invested more than 260 billion yuan in the market in more than half a month, and at the same time acquired several companies at missed prices.
In this situation. Class
He took his family to Sijiu City in advance.
Nong Qingying, Nangong Tian and Jiang Yu were all there. A bunch of energetic little guys were playing and making noise in the courtyard all day long. Mrs. Tang and her three daughters-in-law had a table of mahjong together and were enjoying themselves all day long.
Su Yehao was not so free. He helped with receptions everywhere, and also accepted several interviews. There was an endless stream of people coming to visit him, and the gifts almost filled an entire side room.
As the factory is under management and renovation, the sky is rarely clear again. On this midsummer night, you can even see the stars while sitting in the yard.
The night of the 5th.
Sitting in the yard enjoying the shade, the mosquito killer lamp inserted among the flowers occasionally flickered, and there were bats flying back and forth in the sky.
Su Yehao held a folding fan in his hand. On it was a picture of spring scenery in the south of the Yangtze River drawn by Mr. Wu Guanzhong. He lay on the rocking chair and admired the stars and the moon. He smiled and said:
"After attending the opening ceremony, there should be nothing to do afterwards. If you want to go there, you can go there. If you don't want to go, just turn on the air conditioner at home and watch the live broadcast. It is more comfortable than sweating profusely at the scene. I wanted to travel around the world on a yacht before, so you can arrange it in advance
Come on, don’t be unable to spare time then. If you let the yacht sail to Qingdao, you can set off right after watching the sailing competition. The kids will be on vacation.”
Nong Qingying sat cross-legged on the mat, playing landlord with Jiang Yu and the others. Two mosquito bites were clearly visible on her fair thighs.
There is a lake next to the courtyard. Even if we try to eliminate mosquitoes every day, there will still be mosquitoes that slip through the net.
She scratched her legs and said, "The sea is surrounded by water, so it would be very boring. How about traveling to the northwest? Eat cantaloupe, see the desert and snow-capped mountains, and buy a roasted whole lamb. It's better than just sitting there."
It’s good to be in a daze on the boat.”
Nangong Tian raised her hands and said:
"I agree, starting from Sijiucheng and heading west across the prairie. The sea is not only boring, but also dangerous. If something happens to the yacht, our family may be killed."
You can go to sea anytime. It seems pretty good to go to the northwest this season.
Besides, Jiang Yu is pregnant, so it is not appropriate to leave her at home, but if she becomes unwell at sea, she will be in trouble.
After a brief consideration, Su Yehao continued to fan and replied:
"That's okay. When the situation is a little more stable, it will be more convenient to travel around the world. Then I will find some RVs and off-road vehicles. Jiang Yu, can you take the car?"
Making an OK gesture, Jiang Yu said: "Don't even think about leaving me. As long as your schedule is not too busy, it should be fine. If you don't feel well, I will go back to Hong Kong City first..."