Page 1003
As many bears thought that this would be the end of the four-month Asian financial turmoil, they began to flee after hearing the news. During the subsequent trading hours in various countries and regions on the same day, the stock, bond, exchange and other markets rose across the board.
Except for the unlucky South Korea.
Because the Korean stock market opens from [-]:[-] am to [-]:[-] pm, plus the time difference, but when the news from Hong Kong reached South Korea, it was already [-]:[-] pm there.
South Korean stocks had closed for an hour.
Therefore, when the financial situation in Hong Kong was reversed, on Wednesday, the Korean stock market fell by 4.5% again. The KOSPI index closed at only 327 points, which was 1994 points from the peak in 1145, and the cumulative decline reached 72%. Within the range, from the highest point last year, the decline has also exceeded the half-cut.
After all, the Korean stock market is only a small cap, and the worst thing is the Korean won.
On the same day, the South Korean won once again fell by 5.4% in a single day, falling from 1781 to 1 to 1877 against the U.S. dollar. Compared with the exchange rate ratio of about 1 to the U.S. dollar a few months ago, the depreciation rate has exceeded 800%. There was no sign of hemostasis.
When the major financial markets in Asia closed one after another, as the night gradually covered all parts of Asia, Europe and North America ushered in the dawn one after another, the media public opinion about the press conference at the Hong Kong Convention and Exhibition Center in Japan finally began to explode on a large scale.
Governments around the world, major media, major financial institutions, and the public on online platforms have published their comments on this black swan-level super financial event.
The first is Asia.
The governments of Japan and South Korea, which can be called the younger brothers of the United States, were the first to express their affirmation to this press conference. The Kim Young-sam government of South Korea even directly called Washington, calling on the federal government to take stronger measures to curb international financial speculators’ attacks on the economies of Asian countries. attack.
Emotions in Thailand, Malaysia, Indonesia and other countries are somewhat complicated.
Because the participants in this press conference, the Quantum Fund, have just wreaked havoc in their country’s financial markets in the past few months. Now, wolves suddenly stop eating meat and instead protect sheep, which seems to be a good thing.But, what should they count as sheep that have been gnawed to the point of bruises all over their bodies?
So just don't mention it.
Among the relevant statements, they only affirmed Hong Kong's aggressive intervention in the market and the measures taken by the Westeros system to maintain the stability of the international financial order.
After the government made its statement, the media in various Asian countries basically maintained the same tone.That night, a news program with the highest ratings in mainland China gave the press conference a full 12 minutes to report in detail, and at the same time publicly stated a popular slogan in mainland China in a rather euphemistic way, friend Here comes the good wine, the jackal comes, and the shotgun.
Of course, in the one-sided public opinion, there is definitely a lot of noise.
Suzuki Masashi, the chairman of Nomura Securities, was a little excited when he was interviewed by Fuji TV that night. The more angry he became, the more he contradicted himself in the end, turned to a complete denial, and scolded the three parties involved in the press conference one by one, thinking that the Hong Kong authorities should not break the rules of the free market, and that Simon Westeros completely misunderstood his position. I think Quantum Fund must have made a big picture, Barabara.
The host of Fuji TV was also sharp. After Masashi Suzuki complained, he asked straight to the point whether Nomura Securities had placed a large number of short positions in Hong Kong.
Suzuki Masashi was stunned on the spot, then quickly denied it, and finally got up and left the studio.
This incident also quickly became news.
Because the operating conditions of Nomura Securities have been very poor in recent years, and they have been losing money for several consecutive years. Now, the Asian financial turmoil is still continuing. If Nomura Securities suffers another huge loss in Hong Kong, it is likely to be completely unable to support it.
Faced with investors' doubts, Nomura Securities had to hold a small press conference an hour after the chairman's interview with Fuji TV, and publicly denied again that Nomura had no short positions in Hong Kong.
However, the facts quickly came to light. A Nomura Securities executive who was laid off two months ago disclosed on social networks that he had personally participated in the operation of the Hong Kong stock market by the Nomura derivatives team since the first half of the year. The Hang Seng Index rose against the market when the stock markets in other Asian countries and regions were falling. Nomura, who was bearish on the Hang Seng Index, lost a lot of money at that time, and he was laid off by the company precisely because of this loss.
Faced with the disclosure of the former executive, Nomura Securities simply pretended to be dead and did not make any reply.
Compared with Asia, when the sun began to shine on Europe and a new day came, the governments of European countries, mainly developed Western European countries, criticized the press conference in Hong Kong overwhelmingly, with almost no exceptions.
French President Jacques Chirac even stated that the French government will probably take certain countermeasures if necessary for this incident of breaking free market rules in Hong Kong.
As for the financial giants in the European region, they even exploded together.
What's happening?
A guy who has been leading Asia for the past month suddenly came at them, are we going to turn around?
The question is where is the time to turn around? !
The Hong Kong authorities couldn't control them, so they tried to contact Soros of the Quantum Fund and a certain young boss behind the Westeros system to find out what was going on?
Anyway, give an explanation.
Is it just a dream that everyone is happily harvesting Asia during this period of time?
Why not continue?
Why rebel? !
Why do you want to start with your own people?
Why is this?
Governments and financial institutions are like this, and you can imagine the direction of public opinion in mainstream European media.
For Father Sun, who looks at the world indifferently, there is nothing new on the earth. The sun continues to follow the rotation of the earth and throws it to North America.
When the younger brothers in Europe thought that the U.S. government would raise its arms and resolutely strangle this unexpected black swan in Hong Kong, the major American paper media that were first published in the early morning almost all reported the relevant time without pain or itching. , I can't see the anger that the various capital forces represented by these media behind the scenes should have.
Shouldn't you be angry?
Then, at the regular White House press conference that morning, Clinton, whom everyone was looking forward to, did not even show his face. The attitudes of the Westeros system and the Quantum Fund are just corporate behavior, so it is inconvenient to comment, blah blah blah.
Everyone knows that the United States is accepting a very important state visit recently, but, according to the usual practice, shouldn't the United States show its toughness from other aspects at this time?
What the hell are you, Clinton?
Of course, everyone is not a fool. After complaining, many people gradually come to their senses.
The Westeros system, the Quantum Fund, these are all American capitals.
Before the two companies do this, perhaps, very likely... will they inform other Wall Street capital in advance?
Or even directly unite to hunt other unaware international financial capital?Thinking about it this way, the reaction of the US government and the flatness of American public opinion suddenly became normal.
This is a game, a hunt for the entire Wall Street!
It's normal!
Got it!
Wall Street, you are not human, you pay back our hard-earned money! ! !
Chapter 1229 No Suspense
When the sun turned back to Asia again, the most intense financial offensive and defensive battle since the outbreak of the Asian financial crisis officially started in Hong Kong, where all the people were focused.
Central, Hong Kong.
In the Hong Kong headquarters of Deutsche Bank in the International Finance Center Building, Hans Edel did not rest all night last night, and naturally he did not return to his luxurious suite in the Grand Hyatt Hotel.
Since the market closed yesterday, for more than ten hours in a row, Hans Edel has been on the phone non-stop, contacting the headquarters of Deutsche Bank, seeking support; Capital, inquire about news, and even seek to be released.
With US$53 billion in capital, US$45 billion has been pressed in the Hong Kong financial market. Hans Edel can imagine that if he can't survive the next two days, his personal career will also end.
Even if it wasn't his operation error at all, it was a black swan time that no one could have expected.
However, Hans Edel knows all too well that this is never a world of right and wrong, it is a world of success and failure.
If you're a loser, for whatever reason, you're just a loser.
Hans Edel once wanted to give up directly, because he knew exactly what he was facing.
Simon Westeros and George Soros are just standing on the stage. He is facing the entire Wall Street, and the Hong Kong authorities who dare not follow the rules of the game in order to protect their own financial market.
None of the three parties can be resisted by ordinary capital.
Backed by Deutsche Bank, Hans Edel is not an ordinary capital, but he is also irresistible.Because the German headquarters had almost given up after the same lengthy conference call, so he did not receive any additional resources, and the instructions from the headquarters only asked him to minimize losses as much as possible.
However, even if he can minimize his losses, he is still a loser.
In 1997, the Hong Kong stock market still opened at 10 o'clock in the morning. At 9:30, pre-market trading begins.
Hans Edel, who was directly guarding the office of the trader team with bloodshot eyes, did not have any intention of expecting a miracle to happen, and directly asked the traders to start seeking to close all kinds of short contracts in their hands.
Feedback also came quickly, the system sold orders and squeezed, and it was impossible to trade at all.
This is also expected.
Wall Street deliberately set up such a trap, how could it be possible for them to escape easily?
Half an hour later, at 10 o'clock, the Hong Kong stock market opened, and it jumped from 10537 points yesterday to 10624 points in an instant. There was a large projected screen hanging on the wall of the trader's office. Staring at the fluctuations of the index and the curve, ignoring the eyes of some traders subconsciously looking over expecting orders.
The minimum margin ratio in the Hong Kong futures market is 10%, which is 10 times leverage.
That is to say, in the next two days, for the short capital in Hong Kong, the Hang Seng Index must be kept within 11000 points as much as possible, so as to ensure that many short positions with full leverage and unable to replenish margins will be liquidated.
In the current situation, no one would be foolish enough to fill in more margin.
How much to add, it is estimated that how much will be lost.
Hans Edel knew very well that yesterday’s closing price of more than 10500 actually caused a small number of short-selling capital who had bet on short positions within 9500 points and carried out full-leverage operations to directly liquidate their positions, including his own side. Some contracts have also been closed was forcibly liquidated.
The question now is, how much will be left after the official settlement tomorrow?
As for the rollover operation that was directly extended before the futures expired in the past, it is obviously not possible this time.Or because of a zero-sum game, when you have already won a big victory, the bulls will not accompany you.
Let's talk about myself.
In addition to short futures in all aspects, Hans Edel also holds Hong Kong stocks worth about US$5 million.
These were originally used as bargaining chips for shorting and smashing the market, so that they can make more money when the market goes down.Now, it has become a tool to make yourself lose less.
Hans Edel actually thought about it, holding these stocks in his hands and waiting for the appreciation is probably equivalent to making up for losses.It's just that this thought just passed by in a flash.
The $5 million bargaining chip was originally bought at the high point range of Hong Kong stocks in recent months, and the positioning is not an investment at all.Moreover, the current situation is also obvious. The Hong Kong authorities, as well as Wall Street capital, cannot boost the Hang Seng Index infinitely. Hans Edel judged that after the offensive and defensive battle at the end of the month, the next period of the Hang Seng Index guarded by Hong Kong , probably around 10000 points.
Compared with the previous purchase price, the Hang Seng Index is 10000 points, which is still a loss.
Therefore, these two days, since the Hong Kong authorities and Wall Street capital want to boost the Hang Seng Index as much as possible, it is the best time for him to sell these stocks.Of course, unless the Hang Seng Index appears a super black swan again and returns to 16000 points in two days, this is of course a dream. Therefore, these stocks will definitely still lose money after settlement.
The big screen in the office shows the curve trend of the Hang Seng Index.
After the brief jump at the opening, the short-sellers obviously began to exert their strength, and the Hang Seng Index fell back quickly, and then rose again.
Ups and downs.
Up and down.
So until 12:10500 noon, during the two-hour morning trading session, the Hang Seng Index has been fluctuating around [-] points yesterday.
This was also expected by Hans Eder.
Because the key is still in the afternoon.
Unlike tomorrow's settlement day, the HSI futures contract will be settled according to the average basis of the whole day. Today, the settlement points are still instant.Therefore, as long as the bulls pull the Hang Seng Index up to 1 points in the last minute of today, a large number of short positions will be liquidated again, and they will be forced to liquidate afterwards.
During the lunch break, Hans Edel, who has always been very restrained, accidentally ate himself up because he was thinking about things, and laughed at himself, and spent the rest of the time on the phone and discussing countermeasures with the team.
Throughout the morning, the trader team only liquidated a small part of the positions, and recovered less than [-] million US dollars.
At one o'clock in the afternoon, the stock market opened again.
In the first hour, the situation was still lukewarm around 10500 points. After two o'clock, the Hang Seng Index started to rise rapidly again.
The large-screen projection in the trading office was also explained by Hans Edel, changing from the macro Hang Seng Index curve to the specific stock prices of the Hang Seng Index constituent stocks.
Let me add a sentence, it’s really good, it’s worth pretending, after all, you can cache books and read aloud offline!
At 2000:[-], Hans Edel finally sent out the first sell quality of the day, selling a component stock of the Hang Seng Index worth [-] million US dollars at one time, and the trader who received the order completed the operation, Glancing at another computer screen in front of him, he found that the Hang Seng Index had indeed experienced a downward trough.
Afterwards, Edel, who had all the information in his mind, continued to instruct traders to sell stocks at an order frequency of about once every 10 minutes.
Occasionally a few more phone calls will be made.
However, the Hang Seng Index continued to rise in shock after all.
The tormented two hours, coupled with the 8 to 10 minutes of floating trading time in the Hong Kong stock market compared with other markets, finally, the Hang Seng Index closed at 10711 points, a single-day increase of 2.5%.
More stats to follow.
During the entire trading day of today, the single-day trading volume of the Hong Kong stock market more than doubled from yesterday, reaching 796 billion Hong Kong dollars. Compared with the previous normal trading days, it was a full increase of 7 times. The intensity of the game.
In the trader’s office of Deutsche Bank’s Hong Kong headquarters, when most of the traders were a little lucky to hold the 9800-point short position and not be liquidated, Hans Eder, who had been standing in the corner for almost a day, slowly slid down the wall and sat down. to the ground.
With $5 million in chips, only $1.7 million is left.
This is already the extreme of his savings after repeated savings.
After a little calculation and familiarity with the general situation of other short sellers, Hans Edel understood that the chips in the hands of those people would only be less.
As for Wall Street and the Hong Kong government?
Hans Edel can probably guess that the main force of today's bulls must be Hong Kong, and Wall Street may not even have done much!
In this case, there is no need to take any chances tomorrow.
A liquidation is almost inevitable.
After thinking about this, Hans Edel slowly got up, returned to his office, picked up the phone and dialed the German headquarters, and reported his judgment in a dry voice, then casually took his expensive Armani suit, a little casually Leave the financial center building and return to the Grand Hyatt Hotel.
Going to get a good night's sleep.
Perhaps, for a long time to come, it will not be easy to live in such a good hotel.