Chapter 829 (2/2)
At this time, the 1997 Asian financial crisis is not over, western capital has just sounded the horn of attack on Hong Kong Island, and the wonderful counter offensive war in Hong Kong has not yet started.
On August 3, the Hong Kong island crisis steering group issued the financial market guidance report, which proposed that the Hong Kong Island market has sufficient foreign exchange reserves and advocated that public capital have absolute confidence in the Hong Kong Island market.
At the same time, the report states that the Hong Kong Island government will adhere to the principle of free marketism, ensure the purity of the international financial port, and hope to boost the capital of all parties and maintain confidence in the Hong Kong Island.
On the same day, international speculators threw HK $10 billion of selling funds and announced the official smashing of the market!
”Shit! Bang! ” Zhuang Shikai of the police force and the General Administration, wearing a uniform, smashed his fist on the desk and shouted angrily, ”the enemy is in the HKMA!”
The pen on the desk jumped and his eyebrows were raised, which showed his anger.
Sima Xiang, dressed in a suit, stood in the big boss's office and shouted, ”director, the steering group is not pointing the way to Hong Kong, but to western capital.”
”Adhering to market liberalism is not clearly telling Hong Kong Island capital that the Hong Kong government is not rescuing the market? We must make western capital happy? ”
The government wind direction does not necessarily fully represent the market direction, but it will have a great impact on the market direction.
Hong Kong Island capital had been releasing good news to the market. For example, Hong Kong Island capital had a large number of Hong Kong dollar orders, the government had a large amount of foreign exchange reserves, and the state would rescue the market, which once stabilized the cornerstone of the Hong Kong Island market.
As long as the government releases a wave of favorable policies first and then rescues the market step by step, the Hong Kong Island market will be as firm as a rock!
But at present, the government held high the banner of ”free market” and sent a wave of bad news to the Hong Kong market, which immediately caused information confusion and spiritual separation in Hong Kong stocks
Is the government rescuing the market or not?
”The financial secretary has a problem.” Zhuang Shikai calmed down, picked up his desk pen, gently held his pen cap and preached.
”Is it the HKMA, the Ministry of development or the Ministry of economy?” Sima Xiang said aloud.
Zhuang Shikai replied calmly, ”I'll send someone to check. However, whether there is evidence or not, I must let the HKMA put things right and give Hong Kong stocks confidence. ”
”With so much preparation, we must not let the enemy break down from the inside! Do you understand? ”
”Yes! Big boss. ” Sima Xiang spoke with firm eyes.
At the end of the day, the Hang Seng Index hit 500 points and fell back to the 10000 point mark. The whole territory was jittery, panic increased, bad news flew all over the securities market, speculators hyped that the RM currency would depreciate by 10% and the instability of mainland banks, so as to create psychological conditions for its sniping at the Hong Kong dollar.
Overseas funds even issued an option to decouple the Hong Kong linked exchange rate on August 12, 1998. Speculators took the opportunity to spread rumors and threatened that ”the Hong Kong dollar will be decoupled from the US dollar and depreciated by 40%” and ”the Hang Seng index will fall to 4000 points”. Try to disturb people's minds, create chaos and take the opportunity to fish in troubled waters.
……
”Zeng sir, are you free to talk?” That day, in the evening.
”Dada dada.” Zeng Jinsong, the ”President” of the HKMA, has just stepped down the stairs of the office building, gathered his suit, bent over and prepared to get into the car.
Suddenly, the door was firmly grasped by one hand.
”President! President! ” Hold the laptop and yell back.
Zhuang Shikai, dressed in a dignified white uniform, glanced coldly across the car: ”take a moment?”
Zeng Jinsong raised his head, his face slightly changed: ”brother.”
”How dare you step back! I'll buy you coffee! ” Zhuang Shikai stares at Zeng Jinsong with sharp eyes, and his tone is beyond doubt.
More than a dozen security officers in black suits stood behind the vehicle, eyeing the motorcade of the president of the HKMA. Every police officer was full of murderous spirit.
That night, the crisis branch of the HKMA was established.
Major mainstream media, financial newspapers and news programs dominated by Hong Kong Island patriotic capital have cut off reports on the ”financial crisis steering group”.
The ”crisis affairs section” began to release the latest financial policies to the public instead of the ”crisis steering group” with the qualification of adhering to national interests.
The alternation of this wave of ”discourse power” and the change of ”position” were completed almost silently.
The next day, in the morning.
When the Hong Kong stock market opened, international speculators threw out another Hong Kong dollar foreign exchange sales order worth 20 billion within two and a half hours. Contrary to the passive practice a few days ago, the monetary authority directly used foreign exchange reserves to enter the market, dragged down the international exchange rate of Hong Kong Island and maintained the exchange rate standard of Hong Kong dollar to us dollar at 7.75 to 1.
The Hong Kong government is officially facing the financial defense war!
For a moment, there was an uproar in Hong Kong! Regain confidence!
The voice of Hong Kong Island capital and the Hong Kong Island government is no longer separated. The action of ”government rescue” turned the policy into a consensus. On the same day, the confidence of the Hong Kong Island market was greatly boosted, and the Hang Seng Index rose 100 points.
……
”From now on, the HKMA's caliber must be the same as mine! Government rescue is the most effective and direct way! A new steering group will be formed immediately. ” Last night, central, coffee shop.
Zhuang Shikai crossed his legs, touched the coffee cup and leaned down in a determined tone to preach.