It felt like he had been swimming almost all the time. Liu Ningqiang got up from the swimming pool and rubbed it randomly. Just as he was about to go back to the room, he saw Ge Hongrui hurried over, his face a little solemn, and he seemed to be nervous and anxious.

"Director Ge, is there anything wrong?" Liu Ningqiang asked quickly, feeling a little surprised. As the chief financial advisor of the Central Committee of the State Council, Ge Hongrui is very majestic and steady in daily life, and is not impatient or impatient in his work. He has the kind of demeanor of being a scholar, but what's wrong today? How can he make him lose his composure?

Liu Ningqiang seemed to have a little consciousness in his heart.

"President Liu...is there's something going on..." Ge Hongrui seemed to be a little anxious and was breathless when he spoke: "Soros has fought with international speculators..."

"Okay, it's finally here! What's going on now?" Liu Ningqiang's eyes flashed with excitement. After holding it in for so long, he finally came to see the real chapter. It's better than suffering hard while waiting.

However, it is obvious that Ge Hongrui is not as excited as him. He frowned and said in a deep voice: "It is exactly the same as when the Thai baht was sniped. The Hong Kong dollar was sold out in large quantities, and the ratio to the US dollar is declining rapidly."

Liu Ningqiang didn't bother to change his clothes, waved his hand and said, "Go, go back to the room and notify everyone to come back for a meeting immediately."

The situation is indeed very serious. It is completely different from the first tentative attack in August. This time, it seems that "quantum funds" and a large number of international speculators who are surging in the air rely on their strong funds and do not hold back at all. They suddenly punched hard and the emergence of huge sales has caused the Hong Kong dollar exchange rate on major exchanges to plummet, and soon fell to the psychological threshold of 7.75.

The Hong Kong Island government has achieved a fixed exchange rate system that follows the US dollar, which is very beneficial for stabilizing the financial market and promoting the development of the Hong Kong economy. For many years, the exchange rate of the Hong Kong dollar against the US dollar has been relatively stable, and this exchange rate has become a barometer and reference for whether the financial market is stable.

Therefore, the continued decline in the Hong Kong dollar exchange rate against the US dollar immediately caused chaos in the Hong Kong financial market.

A few months ago, the financial storm swept across Southeast Asian countries, and wherever they went, there was a terrible misfortune. Many middle-class people went bankrupt overnight, and the wealthy and wealthy families that were originally wealthy and decent turned into extreme poverty and even were heavily in debt. These bloody real situations occasionally impacted the already tense nerves of the Hong Kong people. With the painful lessons of these neighbors, the Hong Kong people were like frightened birds, who were already anxious. They were afraid that the same bad luck would also come to their heads, and their psychological endurance would become extremely fragile, and even some plants and trees would be in trouble. Therefore, as soon as the financial market collapsed, the citizens immediately became a mess, and rushed to major banks to sell the bank, changing the Hong Kong dollar that was falling into the US dollar.

The lessons of Southeast Asian countries such as Thailand show that under the impact of extremely powerful arbitrage funds and international hot money, the Hong Kong Island government will sooner or later not be able to withstand the fixed exchange rate. In this way, the savings they have accumulated with great effort will shrink significantly. Therefore, everyone wants to quickly exchange the coins in their hands for US dollars in order to preserve their value.

Since the implementation of the fixed exchange rate, the Hong Kong dollar has been in a hurry for the first time.

As a financial city, the stability of the financial market is crucial to the economy of the entire market. Maintaining a fixed exchange rate is to maintain people's confidence. The Hong Kong Island Financial Authority immediately made a tough response and mobilized Hong Kong capital, Chinese capital and British capital to enter the market urgently, intervened for forced intervention, and accepted Hong Kong dollar sales in large quantities. It launched an attack with its opponents.

Because of the strong intervention of the SAR government, the expected results were achieved, and the Hong Kong dollar exchange rate began to stop falling and rebound, and the bank run at the gates of major banks was temporarily alleviated.

However, after only two days, a large number of selling orders poured into the market, and the Hong Kong dollar exchange rate fell below the psychological threshold of 7.75 in one fell swoop. It fell rapidly. The slightest relief of the bank run has emerged again, which is more intense than the last time, so that the SAR government had to dispatch a large number of police forces to maintain order and urgently allocate positions to deal with the bank run and avoid bankruptcy.

But just when the SAR government and expert team mobilized about 100 billion Hong Kong dollars to invest in the foreign exchange market and stabilized the Hong Kong dollar exchange rate, the stock index fell rapidly at this time. The Hang Seng Index fell sharply from 10,000 points to 8,000 points, and directly pointed to 6,000 points. When the storm was about to come, negative news in the securities market was flying everywhere, speculators took the opportunity to spread rumors, threatening that "the RMB can't stand it, it will depreciate soon, and it will depreciate by more than 10%, "The Hong Kong dollar will be decoupled from the US dollar and depreciate by 40%, "The Hang Seng Index will fall to 4,000 points", etc. The purpose is nothing more than to disturb people's hearts, create a "sheep mentality" and then take the opportunity to take advantage of the situation. The "pushing down" trend is shocking.

At this point, everyone suddenly realized that Soros and international speculators were only superficial attacks on the Hong Kong dollar, not only aiming to make profits in the Hong Kong dollar exchange rate, but also adopting a comprehensive strategy to benefit in the stock market and futures market. The stock market and futures market are the real main targets. The sound of the east and the west is Soros' consistent means of speculation and has succeeded many times.

The Hong Kong dollar implements a link exchange rate system, which has an automatic adjustment mechanism, which is not easy to break. However, the Hong Kong dollar interest rate is prone to soaring, and the sharp rise in interest rates will affect the stock market to fall sharply. In this way, as long as you short in the stock market and futures market in advance, and then borrow a large amount of Hong Kong dollars from banks, causing the Hong Kong dollar interest rate to rise sharply and prompt the Hang Seng Index to plummet, you can make huge speculative profits like in other countries. Soros and international speculators once again sniped the Hong Kong dollar through hedge funds to push up

When the Hong Kong government takes measures to significantly increase interest rates to deal with the Hong Kong dollar being attacked, the stock atmosphere fades, and people are worried that the big rise in interest rates will push down the stock market and the real estate market. At this time, they take advantage of the situation to sell futures, causing futures to plummet. Therefore, people in the stock market are panic and sell stocks in panic, and speculators can close their short positions and obtain rich profits. In other words, even if they fail to make a small loss in the Hong Kong dollar exchange rate, they make a big profit in the futures market.

While lowering the Hang Seng Index, international speculators have accumulated a large number of short positions in the Hang Seng Index futures market. For every 1 point of the Hang Seng Index, each short position contract can earn HK$50. In these 19 trading days when the close contact was held, the Hang Seng Index fell sharply by more than 2,000 points, and each contract can earn more than 100,000 Hong Kong dollars, which is shocking.

What should we do now?" The voice was not loud, but it was hard to hide the confusion.

The person who spoke was Fan Xiangchen, the president of the Hong Kong Island Monetary Authority.

His mood was very heavy, and his face was filled with haze. His eyes were covered with bloodshot, and it was obvious that he had not had a good sleep these days. It was no wonder that the financial market in Hong Kong was attacked by international funds and hot funds led by "Quantum Fund", and almost reached the verge of collapse. His first director of the HKMA after his return was naturally anxious.

This is not the HKMA, but the room of the expert group on the 38th floor of the International Hotel in Hong Kong Island. In addition to Fan Xiangchen, there are also the head and deputy heads of the expert group, Liu Ningqiang and Ge Hongrui.

As expected by some media outside the world, the expert group and the Hong Kong government set up a temporary operating room in the hotel, equipped with the most elite traders in Hong Kong, and established a small and conscientious trading team for the expert group to command and use. Here is the command center for Hong Kong Island to fight against "quantum funds" and international speculators. All instructions are issued from here, with hundreds of billions of Hong Kong dollars in funds, and they are also obeying the allocation here, active in the Hong Kong Island foreign exchange market, facing these crazy international speculators, and defending the financial order of Hong Kong Island.

The room was filled with smoke, and everyone was in a very heavy mood. When smoking, their faces looked very ugly, and they were even so gloomy that they could almost get out of water.

Although hedge funds are often subject to the traditional practice of Hong Kong financial regulatory authorities in the Hong Kong Island financial market - raising short-term loan interest rates. Facts have proved that increasing short-term loan interest rates will increase the cost of speculators, because they usually borrow Hong Kong dollars from Hong Kong Island Bank and then sell in overseas markets. By "lifting interest" the Hong Kong government easily cut off the food and grass of international speculators, making them unprofitable and paying huge interest. However, when speculators hit the Hong Kong Island financial market this time, the biggest difference from the past is that speculators did not conduct spot lending activities, but instead collected a large amount of Hong Kong dollars in advance, so that the Hong Kong government's "lifting interest" measures did not play their due role.

Moreover, the side effects of raising short-term loan interest rates are becoming increasingly obvious, and it is too lethal to the stock market. The fall of the Hang Seng Index to 6,500 points will be the minimum limit that the banking system can bear. Experts analyzed that if the stock market and the housing market fall further sharply, banks will inevitably sell relevant mortgage assets in large quantities without choice, thus setting off a vicious selling wave in the stock market and real estate market. Some small and medium-sized banks may even face the fate of bankruptcy because of too many bad debts. This will affect the whole body. Once a bank begins to go bankrupt, the Hong Kong Island banking system will inevitably suffer a fatal chain blow.

If the Hong Kong government does not "limit interest" speculators will take the opportunity to borrow more Hong Kong dollars in case of a greater impact next time. If the Hong Kong government "limit interest" speculators' strategy will succeed immediately. Therefore, in this dilemma, the expert group and the Hong Kong government have to fully accept the Hong Kong dollars sold by speculators with abundant foreign exchange reserves, keep the linked exchange rate, and keep the foreign exchange market. However, under the influence of high interest rates, the economy has paid a high price, the interest rate remains high, the stock market and the real estate market have fallen sharply, and the economy has been greatly damaged. The stock market has plummeted. In just 19 trading days, the Hang Seng Index and Futures Index have dropped by more than 2,000 points. International speculators have won a great victory, arrogantly calling Hong Kong Island their "super cash machine" and claiming that Hong Kong Island will lose. (To be continued! ~!
Chapter completed!