Right now, everyone in the Hong Kong stock market had bright smiles on their faces. This was something that was simply unimaginable a month ago.
There was nothing they could do about it. After all, the stock market had been rising crazily!
After the war on February 9, 1998, that was unforgettable for countless people in Hong Kong, was regarded as a classic by countless people in the future, and also caused countless financial students to be resentful, the stock market had been rising and had never stopped.
There was nothing they could do about it. All the bullets of the hot money and Soros were basically used up on February 9. Even if some of the hot money still had bullets, they did not dare to sell them anymore.
This was because the stock market was rising crazily. Everyone was buying stocks crazily. Whoever sold at this time would be the one who suffered a huge loss.
At this time, buying stocks was the right thing to do!
In fact, on the morning of February 10, the rise was not that obvious. Many individual investors were afraid. What if Soros counterattacked again?
Therefore, the rise of the stock market was still relatively slow. It was not until they discovered that the stock index had been rising all this time, and a few bold and smart brokers or individual investors were crazily buying stocks that a portion of the individual investors could no longer sit still.
Especially on February 11, when the stock index started, a large sum of money began to crazily buy all kinds of stocks on the stock market, causing the stock index to rise by nearly 800 points. Only then did the individual investors come to a realization and join the ranks of the rush to buy.
Now, even a fool could tell that the G shares were about to welcome a wave of revenge. If they bought stocks at this time, they would have profited. This individual investors rushed back into the stock market the second time.
The stock index began to rise from a slow rise to a rapid rise.
On the 12th, the stock index returned to 8000 points.
On the 14th, the stock index returned to 9000 points.
On the 15th, the stock index officially returned to the 10,000 point mark. Many shareholders were so moved that they cried crazily.
On the morning of the 16th, the stock index returned to 11,000 points.
On the afternoon of the 16th, the stock index returned to 12,000 points. Finally, it closed at 13,121 points. It had risen by 2,121 points in one day, causing countless shareholders to instantly kneel down. Even when it fell back then, it did not fall so fiercely!
The following increase slowed down for a while. On the 17th, it returned to 13,500 points, and on the 18th, it returned to 13,800 points.
However, on the 19th, it started again. It increased rapidly, and the stock index returned to 14,500 points.
On the 20th, the stock index officially returned to 15,000 points.
No. 21 returned 15,600 points.
At 2: 23 p.m. on the 22nd, the stock index recovered 16,673 points. This was the highest point of the G shares since July 8, 1997. The G shares had officially recovered this point, which meant that the G shares had completely reversed the situation.
All of this made everyone, whether it was the people of Hong Kong, the people of Southeast Asia, or the people of the whole world, dumbfounded.
Since the fall of G shares in November 1997, everyone had experienced a dream-like stock market. The highest G shares fell by 10,000 points, and everyone's wealth shrank by two-thirds.
But in just one month, everything was back to normal. Moreover, it seemed that this time, it could break through the previous peak of 16,673 points. Such an amazing situation, if you put it a month ago, 11 out of 10 people would not believe it.
This made many shareholders feel like they were living in a dream.
According to the research of those professional researchers, the reason why the stock index could recover so quickly and crazily was because of one person!
Who could it be?
Jia Yapeng?
Of course not, it was our Mr. Soros.
In this wave of increase, the one on February 11th was the most important one. Because a large amount of money entered the G shares, it directly rose by 800 points. This made countless shareholders regain their confidence. At the same time, when they realized that they were about to welcome a huge revenge rebound, they all entered the market and continued to pull up the stock market.
And the source of this wave of 800 points was actually our Mr. Soros.
It was said that after Soros woke up from the hospital, the first thing he said and the first order he gave was to sell the stocks. They had to buy back as many of the stocks they sold as they could!
Soros actually completely gave up the idea of suppressing the stock market and started to buy crazily. It was as if he was sending himself to meet God.
But there was no other way, because Soros had to pay back the debt!
Soros's stocks were not his own, but borrowed from the brokerage company. According to the contract, he had to return these stocks to the brokerage company at the end of February.
But all of Soros's stocks were now on the market, he did not have any stocks to pay back the debt. So according to the contract, the brokerage company would use all the assets and USD that Soros mortgaged with them to buy back the stocks until all the USD was spent.
It was impossible to suppress the stock market now. The only thing Soros could do was to buy as many stocks as he could while the prices were still low. He would buy as many stocks as he could to make up for his losses as much as possible.
In fact, if Soros could buy back all the stocks in his contract at this time, he would not lose much. He could even make a small profit.
Because most of the stocks in his hands were sold when the stock market was above 10,000 points in 1997, so as long as Soros could sell all the stocks below 8600 points, he would not make a profit, but he would not lose money.
Therefore, Soros desperately ordered his subordinates to buy back the shares they had lost before the stock market rose back to 8600 points.
Unfortunately, this was impossible. Soros actually threw all his cash into the stock market. But in fact, there weren't that many G shares for Soros to buy.
Soros only bought about 6 billion USD worth of stocks and bought all the component stocks that he needed to pay back the debt. There was nothing left to sell!
This was also the reason why the stock index rose by 800 points.
After that, although Soros was still desperately acquiring shares, the shareholders were not stupid. Whether it was individual investors or funds, they already understood that the stock market's rebound was inevitable. At this time, unless they were short of cash, no one would sell their shares.
Confidence had made all the shareholders arrogant, and they started to fight their way back into the stock market.
After all, the value of their stocks would rise with every passing second. Who would be willing to sell?
On the contrary, everyone was trying to buy stocks crazily, especially those international hot money. They were faster than Soros. After all, they had always been behind Soros. Soros's cost to liquidate was 8600 points, but their cost was about 7000 points. They were also anxious!
This anxiety was naturally pushed up by the entire stock market. In order to liquidate as much as possible, they could only work harder to buy stocks. This was simply an unsolvable closed loop.
Soros and the international hot money only gave up buying stocks when the stock market rose above 16000 points.
Because the cost of buying stocks at this time had already exceeded the cost of giving up the contract. They gave up the contract, didn't want all the collateral, and gave it to those institutions and banks. It was more cost-effective than going to the stock market to buy stocks again!
Of course, they also hoped that after they stopped buying, they could stabilize the stock market. Maybe they could even drop a little.
Unfortunately, at this moment, a statement suddenly popped up in Hong Kong. It said that this time, Hong Kong was going to win the biggest bull market in more than 10 years. In the future, the stock index would break through 20000 points. Entering the stock market at this time was equivalent to robbing money. Achieving economic freedom in an instant was not a dream.
Then, the entire Hong Kong stock market, and even more international hot money who had not participated in this war before, ran in again. Naturally, they bought more and hoped that the Hong Kong stock market would continue to rise. In the end, on February 24, the Hong Kong stock index broke through the 19,000 points mark.
On February 26, the G stock index broke through the 19,500 points mark.
On February 27, the last trading day in February for the G stock market, and also the day when all the short contracts were settled. The G stock index finally closed at 19,885 points, which made many people feel very regretful. If it rose by another 3 points, it would be able to close at 1,888 points. It was perfect.
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