Reborn as a Noble's Son-Chapter 457 - 429 Thrilling_1
Chapter 457: Chapter 429 Thrilling_1
“Huaxia’s government? Humph, they overestimate themselves. Do they think that just because of their land size, they can compete with international speculators? The funds I, Soros, control, although less than 60 billion, including the funds of several alliances, are all manipulated under my name. The total sum is just over 400 billion. And yet, it already represents an inevitable force within speculative capital. Combined with my successful operations in Southeast Asia and Dongying, I have accumulated an extensive network and prestigious status in the realm of speculative capital. Those who follow the trend are countless. The subsequent follow-ups amount to at least 3 trillion US dollars, a force not comparable to that of a Huaxia government. Attempting to resist it is like trying to crack a stone with an egg. This time, I want Huaxia to witness the power of capital. It’s a pity that Huaxia’s economic strategy is well-rounded, and its large state-owned assets make it difficult to collapse,” Soros pondered, the corners of his mouth revealing a victorious smile.
“Hmm, the Huaxia government is stepping in, so why haven’t they made a move yet?” Soros promptly stood up and instructed his assistant Clerk, “Clerk, go look into it. My instinct tells me that something isn’t quite right. The silence of the Huaxia government is perplexing.”
Soros was very cautious. Such a matter was not trivial; a tiny oversight in the financial realm could be lethal. Although Soros appeared to be high-spirited and indomitable on the surface, this facade was merely for other speculators to see.
His goal was to give the spectators a sense of sureness, to draw more speculative capital into the fray, and to suppress the Huaxia government manipulating things from behind the scenes in Donggang. However, Soros himself was extremely meticulous and careful. This strategy was key to Soros’s success.
Being a world-renowned hedge fund, Soros naturally had his own intelligence network. Clerk came back soon afterwards, with a file in hand, he reported quietly: “Boss, I’ve figured it out. The Huaxia government dispatched a task force composed of financial and international economic experts. They have already joined the Zhong Yin Building in Donggang a few days ago. They were already planning a cocktail party in advance. More importantly, according to reliable information I’ve received, the funds that Donggang’s Li Chaos and others have been using to defend the market this week, a significant portion of it has come from the Huaxia government. I would hypothesize that this is a ploy by Huaxia, aiming to secretly launch a devastating attack on us at a critical moment.”
Hearing this, Soros nodded his head, scoffing, “Foolish Huaxians, behaving like frogs at the bottom of a well. A week from now, they’ll discover that they can’t resist the power of speculative capital.”
…
Inside the Zhong Yin Building conference room,
Nie Zhenbang glanced at Li Chao and others before saying, “Everyone here, it’s time. I am prepared to start selling shares aggressively as soon as the market opens on Monday, with the goal of suppressing the index. After a full week of selling, my objective is to push down the Hang Seng Index from its current level around 8250 to roughly 6800 within a week. However, the 6500 level is a significant benchmark for the Hang Seng Index in Donggang. It absolutely must not fall below this level; otherwise, it will trigger panic selling from retail investors and we’ll be inadvertently teaming up with Soros.”
Selling shares and shorting are just auxiliary methods. The primary tactic is, having the goods in hand, which is to have the stocks. To suppress the stock index, the selling of stock is the best way, especially when most of these people are the bosses of the Hang Seng blue-chip companies. Once these companies move, the index will significantly drop.
Nie Zhenbang realized clearly from the expressions on everyone’s face; in Dongang, this is a free market economy, an international city known for its economic liberalization. Unlike the domestic scenario where many tasks carry political objectives and the tasks have to be done even at a loss, these people will not lift a finger without any potential profit. Even though they share mutual animosity, substantial profit is needed as motivation.
Immediately, Nie Zhenbang stated solemnly, “During this period, the Hang Seng Index futures that I short will be allocated according to the amount of shares each of you sells. Simply put, except for the right to maintain the minimum shareholding, the rest can be sold. The more that’s being sold, the more I will cover the losses for everyone.”
These words settled the apprehensions of the Donggang tycoons. As soon as selling began, stock prices could only go lower. Checking in and out meant bearing a huge loss. Now, with someone covering it, there were naturally no problems. Moreover, when the counteroffensive begins, the stock will be at a low position. Then, they can gradually buy back. Even after this operation, the stocks held by everyone present could reach new heights. No one could refuse such an attractive proposition.
The two-day market closure passed. On Monday morning, as soon as the market opened, the entire population of Donggang was drawn to the stock market. There was a large amount of selling from more than twenty blue-chip companies that held a large share of the Hang Seng Index. In no time, after ten minutes of price negotiation, stocks opened significantly lower, with the Hang Seng Index dropping directly from around 8257 to 8011 at opening.
