Hong Kong Stubborn

By mid-June 1997, the half-year-long operation of absorbing and building positions came to an end.

The Wind and Snow Giants Trust Investment Fund transfers all the stocks absorbed in various offshore accounts to the name of Snow Country Entertainment Investment Company, and the Wind and Snow Giants Trust Investment Fund is about to start selling forward HSI futures as a hedge.

At present, the total market value of the "South China Daily" is around 6.5 billion Hong Kong dollars. The army sister helped Luo Junyan absorb 16.4% of the shares and used nearly 900 million Hong Kong dollars in funds. The current floating profit is nearly 110 million Hong Kong dollars. Then the army sister gave Luo Junyan the power to issue instructions. Luo Junyan didn't need to be sneaky now, and immediately issued instructions to start sweeping the stock market.

At the same time, the Oriental Daily reported on Yingqu.com's revenue data. The celebrities and production companies in the circle that have cooperated are all familiar to the people of Xiangjiang.

Luo Junyan also promptly announced the private transfer transaction. At present, Snow Country Entertainment Investment Co., Ltd. already holds 17.2% of the shares of "South China Daily" and has expressed a keen interest in the Internet website business of "South China Daily".

As soon as these two pieces of news came out, Luo Junyan became a man in the Xiangjiang River again after many years, and the reporters who surrounded Luo Junyan every day were like a crucian carp in the river. However, Luo Junyan never made it clear that he wanted to join the "South China Daily" in response to reporters' questions. He only expressed optimism about the future development of the "South China Daily" and intended to jointly develop the media business of the Science and Technology Network.

In private, he made an appointment with Liu Luanxiong. In fact, he didn't talk about any serious matters. All he talked about was gossip in the entertainment industry. But the reporter didn't think so. Liu Luanxiong's name as a stock market sniper was not for nothing, and the media began to publicize it. Luo Junyan planned to join Liu Luanxiong as the head of the "South China Daily".

The share price of "South China Daily" has risen sharply, while Snow Country Entertainment Investment Co., Ltd. continues to sweep stocks and increase its holdings, regardless of cost. In just one month, Luo Junyan ran out of 350 million Hong Kong dollars, holding close to 19.48% of the shares.

During this period of time, the Guo family was accumulating holdings and grabbing chips, while judging Luo Junyan's true intentions. If Luo Junyan really has the idea of ​​becoming the head of the "South China Daily", the possibility is also very high. After all, one of the main businesses of his company was the media business, and he has been doing well.

Just as the Guo family was preparing to find a powerful person to talk to Luo Junyan, the media suddenly broke that Luo Zhaohui had bought 5% of the "South China Daily". This time, the intention of attacking the "South China Daily" was confirmed. Liu Luanxiong has been at odds with Luo Zhaohui recently, but Luo Junyan and Luo Zhaohui's personal relationship has always been good. This is something everyone in the entertainment industry knows.

In the following days, the land and properties of Nanhua Daily in Hong Kong, Taiwan, and Southeast Asia were investigated. Everyone finally knew that Luo Zhaohui had spent a lot of money to help Luo Junyan buy the Nanhua Daily. And in this way, it is really hard to say whether Liu Luanxiong is the mastermind behind it. When Liu Luanxiong became the owner of Chinese Real Estate, he played a lot of tricks.

Guo's family began to accuse Luo Junyan's hostile takeover behavior would seriously damage the interests of small and medium shareholders, and began to contact some shareholders who hold large shares.

Of course, Luo Junyan was not idle, and even met Luo Zhaohui specially. He knew that Luo Zhaohui deliberately threw news to push up the stock price, but after the meeting he was still talking and laughing.

Then, Luo Junyan went to the credit department of Citibank, and then Citibank announced that it could grant the Luo Junyan couple a 500 million Hong Kong dollars credit line at any time, without restricting the scope of use.

The media is crazy. Luo Junyan wants to learn from Liu Luanxiong and use leveraged funds to buy. Without Liu Luanxiong behind his back, can Citibank give him a 500 million line casually? Even the Guo family didn't believe it. In fact, Citibank evaluated the US "Qinghuan Island" and Xiangjiang "Yuyuan". "Qinghuan Island" was valued at US$85 million and "Yuyuan" was valued at HK$700 million. After all mortgages, it is still possible to obtain a credit line of 500 million.

After Hong Kong officially handed over sovereignty on July 1, Hong Kong's stock market rose in a straight line, and the Hang Seng Index was only one step away from 16,000 points. "South China Daily" is constantly approaching the market value of tens of billions with the help of the strong trend of the market in the case of three big players rushing to raise funds.

At this time, Luo Junyan had already spent 1.5 billion Hong Kong dollars, and his shareholding ratio had only risen to 21.1%, with a floating profit of nearly 300 million Hong Kong dollars. However, the stock price rose too fast and the capital consumption was very large.

The Wind and Snow Giants Trust Investment Fund has sold 20,000 forward HSI futures, with an average index of about 15,600 points sold. The Hong Kong Stock Exchange stipulates that stock index futures have a leverage of 10 times and a margin of 156 million is spent. The market value of the equivalent stock is exactly the same as the market value of the purchase of "South China Daily."

Luo Junyan didn't dare to buy any more at this time. Only then did he know how risky stock index futures are. He now has to lose 1 million for every point the Hang Seng Index rises. He had already lost 400 million Hong Kong dollars when he rose to 16,000 points. Now the Hong Kong stock market is rising so fiercely. If he rises to 20,000 points, he will pay a net loss of 4.4 billion Hong Kong dollars. The bankruptcy will not be enough.

What's more, he won't be given a chance to lose 20,000 points at all, and the funds he can use are only a little more than 400 million.

In fact, there is no need to sell equivalent index futures for hedging, but Luo Junyan does not understand this. The trader team received the instructions and strictly implemented them. Anyway, they earned a fixed salary this time, so they didn't make any suggestions at all.

However, the professionalism of the team is still reflected. On June 20, the HSI broke through 15,000 points. The trader team did not blindly sell HSI futures, otherwise the average index sold would be much lower than 15,600 points.

Luo Junyan was hesitating here, and the Guo family was also quite uncomfortable.

The Guo family had long foreseen that there would be financial turmoil in Southeast Asia, so they mobilized Xiangjiang’s funds to return to Southeast Asia to prepare. As a result, Luo Junyan took advantage of the emptiness and had to spend several times the price to increase his shareholding.

It is Luo Zhaohui who is hesitating now. The stock market is very good, and it is a pity to reduce holdings now. His creed is to seek wealth and wealth in insurance, and there is no reason to give up greater benefits.

The professional trader team gave Luo Junyan a suggestion that the top priority is to raise more funds in order not to fall into a situation of liquidation. In terms of strategy, you can observe for a period of time before making a decision.

Luo Junyan hurriedly borrowed the old sister's 200 million dividends, and the regular interest was no longer needed. Now it is time to burn his eyebrows.

Fund preparations and even the mortgage procedures for the "Yuyuan" and "Qinghuan Island" are completed at Citibank. As long as the Luo Junyan and his wife jointly sign and confirm, they can loan 500 million Hong Kong dollars.

Luo Junyan's raising money is one aspect, and he has to continue to build momentum.

Although he has no money to increase his holdings, he can still fall outside if he is fake. So Luo Junyan and Huo Wenxi held a press conference to jointly announce that Yingxue Royal Entertainment Brokerage Company has launched the Asian All-Star Program and will host a star girl contest in Asia, which perfectly combines entertainment and media.

Although this press conference did not mention the acquisition of the "South China Daily" news, the direction is very obvious, isn't it just using "South China Daily" as the carrier to host the Star Girl election contest.

This beauty contest with sister Ya and sister Hong Kong will generate competition, but the prospects are still very optimistic by the media. Because Luo Junyan disclosed that the top three stars in the Star Girl Contest will receive 1 million Hong Kong dollars in prize money, and at the same time tailor-made three films, he may come back at that time, not only directing but also starring in the leading actor.

Taking advantage of this momentum, Luo Zhaohui also spoke out. When the time is right, he may transfer his 7.42% of the shares of Nanhua Daily to Luo Junyan.

The two people were interviewed by the China Securities Regulatory Commission and neither recognized them as persons acting in concert, but the media regarded them as persons acting in concert. Together, their shares are very close to the 30% acquisition red line, and Luo Junyan will initiate a tender offer in the near future.

The Guo family met Luo Junyan several times, but Luo Junyan directly refused, forcing the Guo family to continue to increase their holdings. The Hang Seng Index is still rising, and the "South China Daily" is gaining more fiercely. There are not many stocks outside, so it is very easy to pull up.

In early July, Thailand had abandoned its fixed exchange rate system, and the signs of a financial crisis had already emerged. But it seems that it has no effect on Xiangjiang. The HSI is advancing all the way, which has suffered Luo Junyan.

In mid-July, the "South China Daily" finally broke the tens of billions mark and became the leader in the rise of constituent stocks in the Hang Seng Index. The Hang Seng Index even hit a new high. Luo Junyan is about to run out of ammunition and food. At this time, he can only choose to close the stock index futures, admit a loss and leave the market, or sell the stock, but as long as he sells it, the stock price of Nanhua Daily will inevitably plummet.

Sister Army is completely sitting on the sidelines this time. She knows that her family is likely to leave Xiangjiang. Only then will Luo Junyan decide to explode the grievances in her heart. After all, this may be the last chance for revenge.

When Luo Junyan was cruel, that gambling was quite terrifying. Which time was it not a fight with fate? If Sister Army stopped him, Luo Junyan might be thinking about a bigger mess. Even if Sister Army took care of him, he could only help him with the aftermath.

Sister Army ignores him now, and Luo Junyan can only ask Brother Cheng for advice.

Brother Cheng had the exact opposite opinion of the professional traders hired by the United States, and threw stocks for futures. His view is that the so-called Kanglong regrets, there must be no strength to pull up straight, and he has already torn his face, and if he wants to die, he will take the Guo family to die, and then he will die well.

What kind of truth is this? Luo Junyan was still facing a difficult decision, and he was too late to make a decision until the beginning of August. However, the Hang Seng Index stood at 16,500 points, and his reserve funds were about to be lost. If he hesitated, he could only borrow money from the bank for turnover.

Luo Junyan calmed down all night, recalling his past, and finally made up his mind to let the Guo family be buried. Forbearance again and again is to wait for the final outbreak, whichever is not the case, this is his life path, otherwise he will go crazy afterwards.

On Monday, August 11, 1997, after the opening of the South China Daily, a large number of selling orders came out. Luo Junyan was quite fierce, and he did not give others a chance to flee, so he directly sold a large number of stocks to hit the market.

At this time, the Guo family already held 47.7% of the shares, and would not sit back and watch the "South China Daily" crash. It happened to take over to increase the shareholding to more than 50% while holding up the stock price.

But no one thought that Luo Junyan didn't care how much he lost. As long as there was a big single to support the market, he would directly break through, and then continuously throw out small orders to keep the price down. The Guo family, including Luo Zhaohui, didn’t know that Luo Junyan sold the stock index as a hedge. He would not have expected that he would lose money when he came out with a huge sum of money. There is no preemptive sell-off.

On August 7, the Hang Seng Index reached a maximum of 16,673 points. At that moment, Luo Junyan lost nearly 1.1 billion Hong Kong dollars in total for the Hang Seng Futures Index sold. Fortunately, the next Friday, the Hang Seng Index fell back and did not let him liquidate his position.

He was desperate this time and continued to increase his selling intensity, and the "South China Daily" directly fell back to less than 10 billion in market value. And as long as the decline slows down, or there is a large pallet, Luo Junyan will throw a large single to smash through the support.

"South China Daily" fell inexplicably, but it drove the overall correction of Heng Seng stocks, and the Hang Seng Index continued to show a slight decline in the negative line.

Luo Junyan wants to use his own strength to fight the market trend, which makes the professional trading team very incomprehensible. However, it is not uncommon for gamblers to lose red eyes in the financial market. These Yankees have already mourned Luo Junyan in their hearts. Once the stock market's technical correction ends and resumes its upward trend, breaking 17,000 points is just a blink of an eye.

During this period of time, Luo Junyan was under tremendous psychological pressure. Sister Army no longer stood idly by. After all, she felt sorry for her husband, who was like a child, and then kept giving advice on the trader. It is not a reasonable plan for Luo Junyan to blindly sell orders to hit the market. He intends to sell short regardless of cost, and also to combine buying and selling. The main purpose is to continuously hit the psychology of retail investors and create a trend of short selling.

Throughout August and September, the "South China Daily" played a leading role in the decline of the constituent stocks of the Hang Seng Index, which actually led the market to continue its deep adjustment. Hong Kong stocks have indeed risen too much. Starting from 2918 in 1990, the stock index in this round of bull market has risen by 659%, and the accumulated risk of its own has also reached the time of exploding.

In mid-September, the Hang Seng Index, driven by Hengsheng shares, pulled back more than 1,500 points. The culprit of "South China Daily" actually fell by nearly half in a short period of time in the trend of the big bull market, which is just astonishing.

This is because after confirming that Luo Junyan sold short regardless of cost, Luo Zhaohui also had to join the ranks of cutting the position to save his life. His shareholding cost line has fallen through, and if he doesn't run away, he will be bankrupt.

Luo Zhaohui kept calling Luo Junyan, asking him if he had a mental problem, doing this kind of unethical things that hurt others and oneself, and cursed all kinds of swear words in a variety of ways. Every time Luo Junyan listened quietly, and every time he replied only three words at the end, I was happy.

This time, Luo Junyan accepted the proposal of the professional trading team.

In this situation, he also hedged a wool thread and simply suspended the liquidation of the sold index futures. "South China Daily" stocks rushed Luo Zhaohui to the front to kill him. As long as he slowed down shipments, he would throw a big order and hit the market. Anyway, Luo Junyan didn't expect much money back from the "South China Daily" stock.

At this time, Luo Junyan still holds more than 14% of the shares of "South China Daily", and the shadow of the cost line is invisible.

Luo Zhaohui and Guo's family are also quite painful. Luo Junyan doesn't want to recoup the cost at all. As long as Luo Zhaohui runs slower and wants to wait for the stock price to rebound, the big orders that hit the market immediately will appear frequently. The Guo family received a lot of goods at a high position and wanted to hold up the share price of the South China Daily. If they put the order, they would be eaten up immediately.

On October 8, the Hang Seng Index fell to 14,838 points, which is no longer a normal correction. Many professional financial investors smelled of danger.

On the contrary, Luo Junyan slowed down the rhythm of the selling. Under the careful guidance of sister army, he probably understood how to take advantage of the trend and can't just do it blindly.