After hanging up the phone, an employee from the Merrill Lynch Securities Department hurriedly came to Elton and said to him: "Just now, the Far East Trading Report reported that many leading stocks were smashed, and many listed companies fell by more than 10%.
It is suspected that Xiangjiang Financial Capital took action, and its purpose was to lock us into the Xiangjiang stock market."
Elton couldn't believe his ears, and even thought that he was hallucinating. What kind of weird trick was Xiangjiang Capital doing? It was okay for them to ship the goods themselves. They didn't protect the market. They actually took the initiative to smash the market. In the stock market, it was so weird.
This was the first time in many years that he encountered such an operation.
This situation makes him quite uncomfortable. If he continues to ship, the stock price may fall further. However, if he buys the bottom, he may be trapped in it. It may be impossible to get out of the trap in a short time.
In particular, he knew that once the plans of capitals such as DuPont and Morgan Stanley were implemented smoothly, the Hong Kong stock market would rebound within a few years and would never be able to turn around.
As a securities investment company, it is impossible for him to put a large amount of funds in this. His previous plan to ship at high levels has failed. Now he can only choose to speed up shipments to reduce his own losses as much as possible.
Elton had some complaints in his heart against DuPont, Morgan Stanley, etc. If these capitals had not caused trouble in the foreign exchange market, and if it had not been delayed for so many days, Merrill Lynch would have gotten the profits long ago, so why would it be faced with such a situation.
He loudly said to the personnel in the investment department: "Immediately notify our personnel at the three major exchanges to speed up the liquidation of the stocks in our hands and try our best to ensure that we..."
Before he could finish his words, the administrative manager came here in a hurry.
It brought him even worse news. The six major TV stations, Jiashi, Far East, Kowloon, Huaxin, Wireless, and ATV, as well as Heung Kong United, Far East, and Kowloon Stock Exchanges issued emergency notices, and major shareholders of many listed companies announced to reduce their holdings.
shares, including Huihong, Wheelock Holdings, Lane Crawford and other leading companies.
As a result, the halls of the three major exchanges were filled with red, and the three major indexes plummeted. At the close of the morning, individual company shares fell by more than 20%.
Elton, who returned to the office, was still confused. He kept questioning how they dared to do this. This was a lose-lose approach and would have an extremely negative impact on the Hong Kong stock market.
This situation signifies that Merrill Lynch has done nothing this month. The stock market's monthly gains were pulled back in less than two hours.
Not to mention Merrill Lynch's profits now, it would be good to be able to ensure that it does not lose money this time. The purpose of these capitals in Xiangjiang is very clear, that is, they are not allowed to cut leeks in Xiangjiang. Even if they cut the leeks of ordinary shareholders, these capitals will not allow it, so
That's why the counterattack was so fierce today.
In the 204 conference hall of the Xinhui Hotel, the top figures in the Xiangjiang business community gathered here, including the chartering king, Huo Yingdong, Li Zhaoji and others, as well as Shen Bi, New Big Kin, Shi Huaiya and others.
Faced with the fierce inflow of hot money, for the sake of their own interests, several major financial groups temporarily put aside their past grudges and discussed strategies to deal with the enemy.
As the inviter, Li Jianhui first spoke: "The purpose of this international hot money is very clear, which is to suppress our Hong Kong economy and attack our Hong Kong dollar exchange rate, so as to harvest our wealth.
We don’t need to worry too much about the stock market at the moment. It’s not easy for them to harvest wealth. The main issue now is the Hong Kong dollar exchange rate. I wonder if HSBC and Standard Chartered can maintain the stability of the Hong Kong dollar?”
At present, the main issuers of Hong Kong dollars are HSBC and Standard Chartered. These two banks largely affect the stability of the Hong Kong dollar.
As long as there are no major problems with these two banks, Li Jianhui will have enough confidence to compete with international hot money.
Seeing everyone looking at him, Shen Bi responded: "We at HSBC have been issuing Hong Kong dollars in strict accordance with the relevant regulations of the Monetary Authority, and we have sufficient foreign exchange to guarantee it. As long as there is no large-scale run on the citizens of Hong Kong, the exchange rate of the Hong Kong dollar will not be too big." fluctuations.”
Standard Chartered also stated that its side is similar to HSBC. As long as the major families and citizens in Hong Kong do not run on it, the Hong Kong dollar will not depreciate.
With the guarantees from the two major banks, these big guys present also felt confident. In terms of business competition, they may still have some Western capital, but when it comes to Hong Kong finance, especially the Hong Kong dollar exchange rate, they are really not afraid.
Compared with many countries and regions, the issuance of Hong Kong dollars must have sufficient foreign exchange and collateral, which to a large extent ensures the stability of the Hong Kong dollar.
At the same time, the local capital in Xiangjiang is united as one, and there will basically be no losing situation unless the situation in Xiangjiang is unstable.
All parties have also discussed this aspect. First, pay attention to external rumors. Once unfavorable remarks appear, all parties will immediately provide clarification.
Although some stocks have dampened the confidence of ordinary investors, in other respects, various parties have increased investment in some projects in recent days, boosting Xiangjiang citizens' confidence in Xiangjiang.
Li Jianhui, Li Guobao, Qiu Degen, Feng Jingxi, Guo Zhiquan, Bao Yugang and others also promised that when necessary, major banks will use their foreign exchange reserves and gold to help stabilize the Hong Kong dollar's exchange rate.
At the same time, major banks also promised not to lend more than 100 million to any foreign-funded institution within one month.
This article directly blocks the source of large-scale acquisition of Hong Kong dollars by international hot money. Li Jianhui still does not believe that these hot money can exhaust the foreign exchange of their major banks just by relying on the Hong Kong dollars in their hands.
In the Citibank conference room, meetings including Elton, Dupont, Black, etc. were also held.
In the conference room, Elton was the first to attack, accusing DuPont, Morgan Stanley and others of not following everyone's agreement and doing nothing in the foreign exchange market, so that local capital in Xiangjiang focused on the stock market.
"Elton, I know that the developments in the Hong Kong stock market make you uncomfortable, but don't rant here. We are advancing step by step according to the plan. Don't you understand the trading volume of Hong Kong dollars in the foreign exchange market today?
And the reason why the foreign exchange market is not volatile today is because you need time to cash out from the stock market. Now that you have problems yourself, you are blaming us. Isn't this shameless?"
Seeing that the two families were about to fight again, Blake quickly said: "Don't get angry, you two. At this time, we must be united sincerely.
Xiangjiang's local strength is not as weak as everyone thinks, and we are the opponent's strong point in attacking. If everyone continues to undermine each other, I'm afraid we will lose this round."
Fidel Snein, the person in charge of Da Mo Xiangjiang, said with a smile: "Black, you are trying to inflate the enemy's ambition and destroy your own prestige. I admit that you have underestimated Xiangjiang Capital a little, and you are not ready to deal with foreign enemies. How many companies can give up?" Grudges from the past are a bit like Japan's six major conglomerates in this aspect.
But Xiangjiang is only so big, and saying that the five major consortiums are just promoting them, these few are still far from the real consortiums, and tomorrow you will find that the five major consortiums in Xiangjiang are just mediocre."