"Dump another 5% of SGD today." Feng Yu instructed.
He Zhaoji and his men continue to dump SGD slowly. Feng Yu's strategy is not to be the main force and will let Quantum Fund be the main force. He will be the same as the rest of the speculators and follow the trend.
Nanyang reacted quickly as well and was still slowly making adjustments. Although SGD had fallen, it did not fall below Singapore's permitted range.
But there is good news. Singapore had dumped Thai Baht to absorb SGD. This way, SGD had stabilized, but Thai Baht's rate fell again.
After the floating rate system was adopted, Thai Baht's rate had fallen below 30: 1, but it had stopped falling. But Singapore dumped a large amount of Thai Baht for their currency, causing Thai Baht's rate to fall again.
This way, Singapore, which had been helping Thailand, had become Quantum Fund's helper. Thai Baht, which had just stabilized, started to fall again.
What national strategic cooperation? When it came to the interests of one's own country, it was all meaningless. When they can't even take care of themselves, who will care about other countries' economies? Protecting their own economy is the most important thing.
Feng Yu switched on the TV and watch Hong Kong's financial news.
Hang Seng index had risen slightly when the market opened, and it started to fall. A famous stock critic commented on TV that Hong Kong's stock market is overvalued.
"Look at the data. All the Southeast Asian countries' stock markets are falling rapidly, but Hong Kong is rising. This is not normal. Now, Hang Seng index is falling, and many stocks have fallen by more than 5%. This means some funds are fleeing … "
The stock commentator on the TV was talking about Hong Kong's stock market with a negative look on his face. But Feng Yu knows this stock critic is famous for being a jinx. Whichever stock he says will rise, that stock will fall immediately. Whichever stock he says will fall, that stock will rise. Many people who speculate in the stock market call him Loser Cai!
But this stock critic's ratings are very high. Maybe many people are buying the opposite of what he says.
But today, this stock critic is right. Fu Rongqi and the rest are dumping their shares, including many blue chips. Hang Seng index will not rise.
…
"Eh, that idiot Cai said the Hang Seng index will continue to fall. Should we sell our shares? In any case, we've already earned so much before. Even if we sell it now, we'll still be able to make a profit, "said a waiter in a tea restaurant.
"You already said that he's a loser. Has his prediction ever been accurate?" Another staff member said disdainfully.
Many people in Hong Kong are speculating in the stock market. The waiters in the teahouses had also joined the stock market army. Some even quit their jobs and became a full-time trader. It was comfortable and profitable.
"But this time, he did not predict any stocks. Instead, he predicted the Hang Seng Index. Do you remember how he became famous? He got famous because he predicted the Hang Seng Index to rise. "
The other staff also starts to hesitate. That's right. That's right. That's right. That's why he did not predict any stocks today. He only predicted the Hang Seng index to fall.
The Hang Seng index had fallen yesterday, and it is still falling today. Feng Yu said that the Hang Seng index will continue to fall in the near future. If that is the case, they will be trapped if they don't sell their shares!
"Should we ask Fortune God Liu next door?"
Fortune God Liu is the boss of the shop next door. He used to be a waiter, but he made a fortune in the stock market. Now, he owns a shop and sells fruits.
Many people had followed Fortune God Liu to buy shares and made money. But Fortune God Liu's temper is not good, and they cannot afford to be filial to him. That's why Fortune God Liu had never guided them before.
After discussing, Fortune God Liu pretended to dump the rubbish and went to Fortune God Liu's shop. When they entered Fortune God Liu's shop, they saw Fortune God Liu reading the financial news and holding a laptop.
"Fortune God Liu, you are looking at the stock market."
"Why are the two of you here? Even if it is not lunchtime, your boss will not ask the two of you to come out."
"Fortune God Liu, the two of us came to beg you to come. Do you think the stock market will continue to fall? "
Fortune God Liu glanced at the two of them. If it weren't for these two brats helping him dump the rubbish, he would not have told them.
"Just dump your shares. I advise you not to buy any shares this year. Southeast Asia's economy is in trouble, and the stock market might be very volatile. With your standards, you will be easily trapped."
"Thank you, Fortune God Liu. We will help you dump the rubbish outside."
After the two of them left the shop, they immediately made a phone call to dump their shares. Anyway, they had made money and can buy some things for their families.
These two people were lucky. They had sold their shares, but there were still some people who saw that their shares were still rising and even increased their investments.
But the fall of the Hang Seng Index had stopped those people from raising funds in financial companies. When the stock market is falling, they do not dare to raise funds.
If the stock market falls, they will lose all their money.
… …
Soros looked at the Hong Kong news. The Hang Seng Index is still falling, and some analysts think it will fall below 13,000 points. This is not good news.
The more the Hang Seng Index falls, the less room Soros has to short it, and it will be harder for him to make money. Soros had invested a sum of money to pull up the Hang Seng Index, and now, he had suffered losses.
Seems like there are some experts in Hong Kong. This slow fall will not affect Hong Kong's economy much, and there will not be panic.
In two to three months, it is very likely that the Hang Seng Index will fall below 13,000 points. It might even fall more, but Feng Yu will not make any money.
Soros is considering if he should short the Hang Seng Index while it is falling. Maybe he does not even need to do anything and can make some profits.
But if Soros is discovered and they try to pull up the index, this contract will be blown up. Soros will have to increase his margin, and he will be dragged into the Hong Kong market.
Should he give up on the Hong Kong market and wait for two months?
Thinking of this, Soros gathered the four vajras and asked for their opinions.
Three of the fund managers felt they should wait and see. They should focus on other currency markets and not provoke Hong Kong.
But the Chief Analyst, Drucken Miller, has a different opinion. He felt they can short the Hang Seng Index now to hold back those Hong Kong tycoons.
This is because Soros suspects that the Hong Kong tycoons are the ones selling out their assets. They are selling out their assets to raise funds and at the same time, make a profit in the Forex market.
If these tycoons join in, Quantum Fund will be able to make money easily, but it will be harder for them to attack the Hong Kong market!
Soros can't make a decision now. He suddenly realized he should not provoke Hong Kong first.
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