When the Tokyo Stock Exchange, almost all of thousands of stocks rose in galloping.

Japan's Tripitaka Province predicts that the average Nikkei stock price on the Tokyo Stock Exchange will rise to 60,000-80,000 yen soon.

The whole of Japan was as crazy as the war during World War II. They were already crazy about the Japanese economy. After receiving the official news, all the Japanese had completely believed that their economy would surpass the United States in the near future, and their economic success would surpass the United States, and their dream of becoming a normal country would soon be realized.

At this time, the Tokyo Stock Exchange Index had exceeded the 39,000 yen mark. Although Japanese companies' profits continued to grow, most listed companies followed the instructions of the Ministry of Tao to invest profits in purchasing equipment, introducing technology, or investing in scale. However, most Japanese listed companies have not distributed dividends to investors for 30 years! In Europe and the United States, shareholder interests exceed everything. In order to meet the requirements of investors who come for profits, Wall Street often gives priority to the returns that can quickly distribute dividends to shareholders through equipment investment. In Japan, listed companies almost do not consider the interests of shareholders, and invest all profits into the company's development, and have almost no habit of distributing dividends to shareholders.

Although there is no dividend, the stock price continues to rise from the 1970s to the 1980s. The Japanese stock market is simply a freak, and in the state of zero dividends to shareholders, it can actually increase the overall market value of the stock market by 20 times!

Not only did Japanese listed companies not give investors a half-dividend, but even Japanese banks paid depositors very low interest rates. In the 1980s, Japanese banks paid depositors an average of about 2.5% of interest per year. The Japanese financial system achieved its goal in decades after the war with the goal of providing cheap capital and strengthening manufacturing. Savings funds turned into funds flowing into large enterprises at incredibly low interest rates. European and American companies paid interest rates at a minimum of 5%, and the highest was more than 20%. In other countries, investors and depositors would expect returns, dividends, etc., but there was no such thing in Japan.

Japan is praised as a high-tech country in the world, but its level in the financial industry is obviously low. There is no need to return bank loans, and stocks do not pay dividends. The entire financial market is indescribable!

These abnormal phenomena have strengthened the Japanese people's belief that due to the particularity of the Japanese economy, the Japanese stock market is very different from the stock markets of other countries. The Japanese stock market will only rise, not fall. They regard it as a rule that it will only rise and then rise!

When foreign investors including Zhang Bixuan's Longteng Fund proposed that the risks in the Japanese stock market are already very huge, and those who hold stocks should sell all the stocks!

Of course, Japan's authoritative financial institution, Otadori Province, was very dissatisfied with the behavior of foreign investors in blushing the Japanese stock market. Instead, he held a press conference to tell Japanese stock investors: "The average share price of the Tokyo Stock Exchange will rise to 100,000 yen!"

At this time, Japanese economic experts had forgotten any financial knowledge, and even most financial scholars themselves were hypnotized, thinking that the Japanese stock market was an impossible stock market. When the financial knowledge they learned had lost its effect in the abnormal stock market of the Japanese stock market for a long time, few people have used economic knowledge from Europe and the United States to explain the phenomena in the Japanese stock market, and they have almost forgotten most of the analytical techniques used in foreign financial markets.

The province of Dazang is a bureaucratic organization that will never ask investors to sell stocks. Japan's financial level is behind, which is obvious to all in the world later. However, they still feel good about themselves now, as if they are extremely strange and superior in the world's financial policy.

Although the province of Ozawa has always been an institution that does not like reform, people who have high real estate prices in Japan are already a little panicked. The price of land in the imperial palace is comparable to that of the United States, and the price of land in Tokyo is more than the total of all land in the United States. People who are not nervous can realize that it is a bit bad. Due to excessive land prices, ordinary middle-class people cannot afford to buy a house even if they don’t eat or drink for their entire lives. In the early 1990s, about 70% of people in Japan belonged to the middle class, and the future of the residential construction industry was bleak. Moreover, even if companies want to expand their factories, they give up because the price of construction land is too high and they feel it is not cost-effective.

In order to curb real estate prices, Japan's Datoma Province honestly used methods commonly used by European and American countries to start raising bank deposit interest rates. Within a few months, the original deposit interest rate of about 2.5% was raised to 6%. Oriental people have always had the habit of savings. After raising the interest rate, banks quickly took out cash circulating in the market like water-absorbing sponges.

Bank deposits have increased a lot, and the currency circulating in the market has naturally decreased. The Japanese stock market has first responded sensitively. Due to the lack of a large amount of hot money in the market, the Japanese stock market has already experienced weak rises.

The whole street suddenly became noisy.

"What happened?" Zhang Bixuan asked.

"Boss, the Nikkei index fell by more than 200 points just now!" Li Haoran said.

This street is close to the Tokyo Stock Exchange, all of which are companies and traders engaged in the financial industry, and of course there are a large number of retail investors who stare at stocks every day. Whenever the stocks experience a rapid and comprehensive decline like a storm, it is even more disturbing than the noise caused by throwing a bomb in the Japanese Palace.

On January 12, 1990, the air was filled with a solemn atmosphere. On this day, the United States launched the new product of Nikkei put warrants, and Japanese financial companies happily accepted it. They believed that Uncle Sam in the United States was making a very interesting game with himself. The stock index rose, Japan won money, the stock index fell, and Japan lost money, the rules of the game were that simple!

The stock index options bought by Goldman Sachs from the Japanese insurance industry in the United States were resold to the Kingdom of Denmark, which sold them to the buyers of warrants and promised to pay the proceeds to the owners of the "Nikkei Put Warrants" when the Nikkei Index fell. Then, other American financial institutions followed Goldman Sachs and launched a variety of "Nikkei Put Warrants".

"The speculators all over the world are in Japan!" Eddisekota exclaimed.

Zhang Bi Xuan said: "No, only smart speculators gather in Tokyo!"

"The US government is the biggest speculator!" Li Haoran smiled coldly.

"Boss, can you play music? In 1987, we haven't played music that fits the atmosphere!" Eddie Sekota's romantic cells suddenly burst out.

"Okay, whatever music you listen to!"

Eddie Sekota got the approval and played heavy metal rock music in a dance.

No one continues with any irrelevant topics, just watching the changes in the data of various important stocks on the computer.

Longteng Fund does not have much capital in the Japanese stock market, with only about US$20 billion left. Using 5% of leverage trading can control a huge asset of US$400 billion. If Zhang Bixuan alone takes action on the Japanese stock market, it can basically be said that it will be immediately bombarded by large Japanese financial institutions.

However, it is different from the Americans. This time, the US government has been planning to beat Japan, an economic competitor, to be unable to get up. In the 1980s, Japan's manufacturing industry fiercely seized the market, and it was impossible to force the United States and Europe, such old powers, felt difficult. Therefore, the United States' plan to sentence Japan's economy to at least 10 years of "fixed imprisonment" was unanimously agreed by many Western European countries.

The United States can make Japan unable to struggle because a large number of American troops are stationed in Japan. Japan has not had a decent army in 1990. The US government is equivalent to the Supreme Emperor of Japan.

When the Japanese stock market surged in 1989, foreign capital was fed up with the stinginess of Japanese listed companies. In addition, foreign capital assets that entered the Japanese financial market in the early stage had expanded at least several times, and a large amount of funds began to accelerate the withdrawal of funds from the Japanese financial market. Foreign capital retreated at a rate of hundreds of billions of dollars a day, while many large Japanese companies basically invested in overseas investment. The Ministry of Otaku did not take the stock market seriously. They believed that as long as the scale of listed companies continued to expand, the stock market would surge with it. However, it was obvious that Japanese stocks were different from other countries. They never distributed dividends. No matter how good the benefits and the expansion speed was, the money they earned would always continue to be invested in the company's expansion, and it would not bring any actual investment returns to shareholders. Rational foreign investors quickly left the stock market and a large amount of funds were withdrawn, causing large-scale turmoil in the Japanese stock market.

The withdrawal of foreign capital is not the biggest blow to Japan, because most Japanese citizens follow the policies of the Tripitaka Province and hold stocks rather than sell stocks. Moreover, many Japanese financial institutions have a large amount of funds, but most of these huge funds are invested in overseas markets. As long as there is time to buffer, these overseas funds can save the market.

However, the United States does not give them enough time to prepare. A large amount of funds quickly withdraw from the stock market, and the put warrants are selling well, and a large amount of funds, including Longteng Fund, short the stock index futures. With the most powerful commander of the United States, many financial speculators work together to short, the Tokyo securities market is one-sided!

When the opening of the market, the Tokyo Stock Exchange Index suddenly fell by 500 points, followed by financial stocks and insurance stocks leading the way, and other stocks struggled slightly and also fell. Among the nearly 3,000 stocks in the entire market, there were less than 200 stocks rising.
Chapter completed!