"HKD can't hold on any longer and will be decoupled from USD. My estimate is that HKD will depreciate by at least 30%!"
"Hang Seng Index will fall below 8,000 points. It will be too late if we don't run now!"
"Many listed companies are suspected of falsifying their financial reports and will be suspended from trading!"
"The financial crisis is affecting Hong Kong, and it's safer to change your money to USD!"
"Calling on Hong Kong's Monetary Authority to raise interest rates to stop foreign funds from shorting HKD!"
… …
The next day, many Hong Kong media reported similar articles, and even some news programs reported similar news. All the articles were negative on Hong Kong and felt Hong Kong is no match for Soros.
Ren Zhigang immediately called for a press conference to scold those who started these rumors and contacted the Chief Executive of Hong Kong to punish those media outlets!
"Hong Kong is using the linked exchange rate system and has an automatic adjustment mechanism. Also, Hong Kong has a lot of foreign reserves and will not be defeated by Quantum Fund. Those speculators are bound to suffer a crushing defeat! "
"Chief Ren, even TWD had fallen. Why do you think Hong Kong will not fall? Taiwan's foreign reserves are much higher than Hong Kong's. "A reporter asked.
"That is because Taiwan needs TWD to fall to lower its inflation rate. They need to import more products. Furthermore, Taiwan had suffered a lot of losses. From the big picture, TWD's fall will not affect Taiwan's economy much. Furthermore, our linked exchange rate system is linked to USD and will never be decoupled. Do you think Quantum Fund can make USD fall? "
"But why don't we raise interest rates to prevent them from dumping HKD?" Another reporter asked.
"Let them dump HKD. They also need to pay interest, right? We can just buy them back. Hong Kong has enough funds. "
"Someone said the Hang Seng Index will crash. It had fallen by more than 1,000 points in the past two months."
"The Hang Seng Index is now at 12,000 points. Two months ago, it was only around 14,000 points. Is this a significant drop? Asia's economy is not doing well, and such fluctuations are normal. Don't tell me your stocks have never fallen by more than 10%? But to say it will fall below 8,000 points is just an exaggeration. Today, the Hang Seng Index had risen, and many other stocks had risen. Didn't you all see this? Also, we are not the ones who used our funds to pull the index up. It is the investors who think Hong Kong is worth investing in. "
Ren Zhigang was pleased with himself, and Superman Li led some of his men to buy Hong Kong stocks. Superman Li and his men will buy whatever stocks Ren Zhigang and his men sell at low prices.
Superman Li had even announced some news, and his company's shares had increased. Many Hong Kong tycoons had announced good news, like they had signed some cooperation agreements with China, and their profits in the next few years, etc. Many people started to buy Hong Kong's shares, especially those blue chip shares.
Superman Li prefers real estate, and he had bought many real estate companies' shares. Fu Rongqi prefers trading, and he bought some trading companies' shares. Some people liked high-tech stocks and bought them in large quantities. Some people liked traditional manufacturing and felt that this was the most reliable.
Not only did the Hang Seng Index not fall, but it seems like it will shoot up to 13,000 points.
Feng Yu had also used a large sum of funds, using USD to buy those HKD shares that were being sold at low prices. After that, he used HKD to buy Hong Kong shares.
…
"Boss, we can't do it. The negative news we released is not effective. Many tycoons are Hong Kong media moguls, and we cannot go on the mainstream media." Drucken Miller said anxiously.
They had released a lot of negative news, hoping to create panic and cause people to dump their shares. But their news was not as good as the good news, especially when it was announced by a few of Hong Kong's top tycoons.
Soros did not expect Hong Kong's top tycoons to join hands. Even if they joined hands, they will not make any profits!
But those tycoons might not make any profits, and Soros will suffer losses!
When the Hang Seng index rises, they will lose money on their stock index futures, and if they dump HKD, they will suffer losses. The problem is HKD's exchange rate is too stable, and they cannot suppress it!
Soros was worried for the first time when his plan failed. Feng Yu started to reflect. Was it because of his victories in other Southeast Asian countries that he had lost his mind? Should he not have attacked Hong Kong?
"Boss, what should we do? The Hang Seng index is rising now, and we should continue to short the index?"
"Or we can buy the rising Hang Seng index to stop our losses. We can even pretend to attack Hong Kong and let them pull up the index. We might still make profits." Thomas said.
"No. I think we should cancel those contracts and admit our losses. We can attack South Korea first. I had found the loophole there, and we can break South Korea's exchange rate system within a month. We can make up for our losses and still make a sum of money. "
"I think attacking Japan is a better option. Many Southeast Asian countries had borrowed from Japanese banks, and they cannot repay their loans. Japan's bad debts are increasing rapidly, and this is the best opportunity for us to attack. Also, Japan's economy had recovered after a few years of development. If we attack Japan, it will also affect Hong Kong! "
The four fund managers had different opinions and started arguing. Soros closed his eyes and looked exhausted. At his age, it was a heavy burden for him to focus on one problem for a long time.
Furthermore, this failure will be a blow to his mental state. When a person is happy, he will be more energetic and will not feel tired easily.
But when a person suffers a setback, he will feel exhausted!
As they argued, the four fund managers realized Soros did not say a word. They looked at Soros and waited for their boss's decision.
Soros opened his eyes. "Cancel the contracts. We will attack South Korea first!"
"Boss!"
Drucken Miller still wanted to persuade Soros, but Soros waved his hand. "I know this will affect our reputation. But if we continue to fight with Hong Kong, we will suffer more losses. We must think of a way to stop those Hong Kong tycoons from attacking us. It will be much easier to deal with the Hong Kong Government! "
… …
Soros had retreated, and Hong Kong is celebrating!
The famous Quantum Fund had been defeated in Hong Kong. Even after leaving the UK, Hong Kong is still Asia's financial hub. Furthermore, Hua Xia had not attacked yet!
Feng Yu and the rest opened the champagne to celebrate, and everyone was beaming with joy. They had defeated Soros, and most importantly, they did not suffer any losses. Some of them even made some profits.
Feng Yu looked out of the window. Soros's first attack on Hong Kong had failed. But with Soros's ambition, he will surely make a comeback! Why don't we try fighting him in South Korea?
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