The flowers in the factory of rebirth are too fierce

On August 8, bad news continued to come from the world financial sector. The Citigroup Dow Jones stock index fell 27 points, and European and Latin American stock markets fell by 217% to 3%. The Hong Kong stock market is facing a severe test.

Facing the fortress of Hong Kong Island that cannot be conquered for a long time, international hot money can only make a desperate move!

On August 8, news came out from the Hong Kong Island press:

Wall Street hedge funds and the Hong Kong Island government both invested heavily. The Hong Kong Island Monetary Authority placed a 1 million buy order, equivalent to an investment of 15.7 billion Hong Kong dollars, while international hot money quickly sold 4000 million in a few minutes before the market closed. stocks, catching the Hong Kong Island government off guard.

On the 27th, the Hong Kong Island government injected approximately HK$200 billion, steadily raising the Hang Seng Index by 88 points, laying the foundation for the final battle.

The decisive battle to determine the survival of Hong Kong Island is about to begin!

August 8 must be the longest day since the stock market existed on Hong Kong Island.

Monday, August 1998, 8.

Earlier in the day, the Hong Kong Island Observatory issued a thunder and lightning warning. The bad weather also added to the tense atmosphere today.

Also on this day, the two deputy governors of the central bank rushed to Hong Kong Island to take charge. They brought with them the control of all the country's foreign exchange reserves of US$1449.59 billion (approximately HK$10871 billion). At the same time, they were accompanied by two heads of large-scale working committees, Wu Dingguo and Li Zhenshan. A secret order was issued to all Chinese-funded institutions in Hong Kong, requiring all Chinese-funded institutions on Hong Kong Island to go all out. Support the Hong Kong Island government’s “Operation to Protect the Market”.

At 10 o'clock in the morning, trading officially started. Just five minutes after the market opened, the turnover of the stock market exceeded HK$5 billion. Half an hour later, the transaction volume exceeded 39 billion Hong Kong dollars. By the close of the morning, the transaction volume had reached a huge 100 billion Hong Kong dollars, close to the historical record of 400 billion Hong Kong dollars in daily trading volume set on August 1997, 8.

At this moment, the international speculators who eat people without spitting out their bones finally panicked.

In the previous 15 days of battle, almost half of the ammunition for international hot money had been consumed, leaving only futures contracts worth HK$400 billion that expired on the same day.

On this day, all the citizens of Hong Kong Island sat in front of the TV and watched the fluctuations of the stock market. On this day, the streets of Hong Kong Island were empty. This financial war is related to the future life of every Hong Kong Islander.

On the TV screen, every beat of the Hang Seng Index means a fight worth tens of billions of Hong Kong dollars.

When both parties were in a state of anxiety, an unknown but strong source of foreign capital suddenly appeared in the stock market and began to acquire stocks.

Just when the financial circles in Hong Kong were wondering where the funds came from, more and more funds were joining the acquisition team.

Soon, the sources of these funds were found. CSSC, Petroleum Corporation, Beigong, Huaneng, Postal Savings Bank...

They all have a common name: China State-owned Enterprises!

After receiving the order, these state-owned enterprises took unified actions to buy back their own company's stocks at the same time.

Wu Dingguo and Li Zhenshan, who were invited to the Hong Kong Stock Exchange, finally relaxed a little as they watched the Hang Seng Index rising a little.

"Zhenshan, this is the greatest thing we have done since the establishment of the large-scale working committee."

"Secretary Wu, from this operation to protect the market, I have seen the super execution ability and firm confidence of our state-owned enterprises. With this spirit, we will definitely be able to overcome any difficulties."

With the full support of these funds, the Hang Seng Index has always been maintained above 7900 points. The Hang Seng Index 7800 points is a red line. International hot money can make profits only if it is below 7800 points, otherwise it will lose money.

After the market opened in the afternoon, the selling continued unabated. The Hong Kong Island government accepted the orders and the trading volume continued to rise.

After half past three, Lin Zhiyuan walked out of the operating room and lit a cigarette.

Li Xiaoning also followed out silently, "Zhiyuan, give me a cigarette."

Li Xiaoning has never smoked, and today he took the initiative to ask for a cigarette. This is enough to show how nervous he is now.

Lin Zhiyuan smiled and handed him a flower and helped him light it.

Li Xiaoning took a deep breath, "Zhiyuan, can we win?"

Lin Zhiyuan dusted off the cigarette ashes and gave Li Xiaoning a smile, "Don't worry, we will win."

Li Xiaoning's lips trembled and he said no more, but his expression was obviously much more relaxed.

After smoking a cigarette, Lin Zhiyuan returned to the operating room. He glanced at the time and said, "The market will close in twenty minutes."

In the last twenty minutes, the Hong Kong Island government invested another 300 billion Hong Kong dollars. With the influx of funds, the Hang Seng Index soared into the sky with great momentum, and no one could stop its rise.

Slosso, who was far away on Wall Street, saw the shape of the K-line of the Hang Seng Index and sighed. He knew that he could no longer change this outcome.

"Move the August Hang Seng Index futures contract to September! We... lost." Slosso made this decision with difficulty, and at the same time made the wisest move a top investor can make. choose. Transferring the contract to September will give them a glimmer of hope.

If the Hong Kong authorities cannot sustain the situation, they will still have a chance to make a comeback next month.

As the bell rang at 4 o'clock in the afternoon, the constantly beating Hang Seng Index and transaction value on the display screen were finally locked at 7829 points and 790 billion respectively.

Director Tsang announced: The Hong Kong Island government has won the battle against international speculators and to defend the Hong Kong Island stock market and the Hong Kong dollar.

The property of Hong Kong Islanders has been preserved, Hong Kong Island's status as a financial center has been preserved, and Hong Kong Island's prosperity has been preserved!

The victory of the Battle of Hong Kong Island is of immeasurable significance to the Hong Kong Island financial market. It gave the Hong Kong Island stock market a firm foothold and left international speculators not only without room for profit, but also because their contracts have expired. suffered huge losses. This fight between dragons and tigers has since been written into financial textbooks in many countries around the world, and has also become an important plot in many film and television dramas. However, no matter how it is deduced in actual combat in the classroom or how it is performed movingly in movies, it cannot compare. That day was truly wonderful.

August 1998, 8, was a heartbreaking day for many speculators. They came with the results of sweeping the Southeast Asia and the ambition to sweep Hong Kong Island. Their battle plan was not unreasonable. Perhaps their only failure was that they underestimated the determination of the Hong Kong SAR government and the mainland. Hong Kong has always pursued a zero-intervention economic policy. The government actually carried US$28 billion in foreign exchange reserves and entered the stock market and foreign exchange market at the same time to carry out a large-scale defense war.

At the same time, the name of the Hong Kong Island government will always be engraved in their horrific memories and cannot be erased or erased.

On August 8, almost all international speculative funds were mobilized in an attempt to completely suppress the stock index, while the Hong Kong government took all the selling orders and defended the stock market. The transaction amount on this day reached HK$28 billion, setting a single-day transaction record in the Hong Kong Island market.