Aren't we going to make our move yet?" Yu Dehui asked anxiously. On August 11, the Hang Seng Index plummeted 3.62%, closing at 6780 points. Market confidence had almost completely collapsed, and it was rumored that some people had even jumped from buildings. However, he hadn't seen any news, so he didn't know if it was true.
"We already agreed, if the Hong Kong Monetary Authority doesn't act, we won't intervene. The impact of this article isn't as significant as you imagine," He Zhengcheng said. He couldn't understand why this seasoned veteran didn't grasp such a simple principle. Zhuge Liang scolding Wang Lang to death on the battlefield was merely a plot device in a novel.
The purpose of a battle Manifesto is to boost morale before a fight, not to create miracles in times of despair.
"Don't worry, newspapers, magazines, and TV programs will report on this extensively. Also, a large amount of capital is flowing into Wall Street to acquire high-quality assets. Some of these high-quality assets, if purchased at current prices, are bound to incur losses when they mature.
Our speculation about Long-Term Capital Management is becoming a reality." Ji Jiasheng was not in a hurry at all. Regardless of the final outcome of this battle in Hong Kong, Shanhai Capital had already demonstrated its strength.
Many wealthy individuals, even if only to "not put all their eggs in one basket," would choose to invest with them.
"I always feel we could do better," Yu Dehui said. He had been running around with Ji Jiasheng and Xu Xin these past few days, contacting media in Hong Kong and Wall Street, and was already prepared.
Some required payment to be published in newspapers, while others didn't. Even to save costs, they wouldn't pay to be on the front page at this moment. Waiting for the Hong Kong Monetary Authority to counterattack, and then adding to the momentum, was their most suitable choice.
"What do we fight with if we don't have money?" Ji Jiasheng asked.
Finance seems very complex, but if you understand it, it's actually quite easy to grasp.
For example: the world is in turmoil, and eighteen rebel kings are strong and well-equipped. Investing in stocks is like investing in one of those rebel kings.
Investing in futures is like two rebel kings fighting over a city; we choose one side, and the winner takes all. Foreign exchange reserves can perhaps be seen as provisions and gold and silver.
Soros's attack on Hong Kong, starting with foreign exchange, is to burn Hong Kong's provisions. At this time, the Hong Kong Stock Market should be considered the city, and Hang Seng Index futures are the close-quarters combat.
Hong Kong's terrain is strategically important, backed by mountains and facing the sea, with only one side vulnerable to attack. However, Hong Kong's forces are limited, and its weapons are outdated.
At this moment, triggering Long-Term Capital Management's crisis is like setting a fire behind the battlefield, putting their granaries in jeopardy. Once Soros and his allies temporarily retreat, the forces behind Hong Kong will step in.
Shanhai Capital, which means Ji Jiasheng, He Zhengcheng, and the others, are like "strategists" who talk a lot and propose setting fires in the rear.
These guys, with no money and no influence, wanting to influence the course of the battle and provide assistance, are too unrealistic.
"Wait, just wait..." He Zhengcheng sat in front of the computer.
On August 13, the Hang Seng Index plunged again, and the bulls had almost no power to retaliate.
"Take profits!" He Zhengcheng said to Chao Yang. Although their capital was truly insignificant, seeing the alarming red figures, he really couldn't bear it.
"Alright!" Chao Yang said. Although he knew the decisive battle had reached its final moment, such a brutal scene was truly rare.
"The Hang Seng Index must not be broken below 6500 points by Soros and his allies." He Zhengcheng looked at the number before him, knowing it was a critical moment. If no funds entered the market now, allowing panic to set in, the consequences would be hard to predict. "Defeat like a collapsing mountain" is an idiom describing how, after a defeat, soldiers fall like mountains, virtually unstoppable.
In human history, it seems only the Daxia Country army had the courage and faith to fight to the last man (this refers to large-scale armies; small-scale ones don't count, as every country has such devoted individuals).
"I hope the worst doesn't happen!" Chao Yang also nervously stared at the market. Although they were supposed to take profits, if the Hang Seng Index futures plummeted, it would be meaningless.
"Has the Hang Seng Index fallen to 6500 points?" Xu Xin asked. She had also come to Chao Yang's studio at this time.
"Almost!" Chao Yang replied.
"Let's take profits!" Xu Xin urged.
"Okay!" He Zhengcheng said without turning his head.
"Look quickly, the trading volume is sharply increasing, and the decline is accelerating!" Yu Dehui exclaimed.
"6500 points, ten thousand lots..." He Zhengcheng didn't know if history had changed. He remembered reading in novels that the Hang Seng Index had never fallen to 6500 points.
"6500 points, 8000 lots... 7000 lots... 5000 lots..."
The bid orders were being furiously eaten up. No one knew why Soros had increased his attack intensity. Was he going all out?
"6500 points, only a thousand lots left..."
"Why is this happening? Why is the Hang Seng Index breaking below one thousand points?" He Zhengcheng suddenly felt a little scared, afraid his memory was wrong, afraid history had been changed... "It broke..." Xu Xin sighed deeply.
"Close positions..." He Zhengcheng gave the order. Seeing 6500 points being breached, he couldn't afford to worry about gains or losses and immediately closed positions to take profits.
Soon, the Hang Seng Index fell to 6490, and this hastily constructed defense line failed not long after. He Zhengcheng looked at the funds in his account, feeling a bit upset and disappointed.
He didn't know why. Could Soros really defeat the Hong Kong Monetary Authority so easily? Would Long-Term Capital Management's losses be covered up, would they fail?
"I want to go long!" He Zhengcheng seemed somewhat possessed at this moment.
"Cheng Zai, don't be reckless." Xu Xin walked over and placed her hand on his shoulder.
"I..." He Zhengcheng was overwhelmed by a myriad of thoughts at this moment, seemingly stunned.
"I..." There were some things he couldn't say. Was the memory he once prided himself on merely an illusion?
"I won't accept my fate, I won't give in... Bang!" He Zhengcheng slammed his head hard on the desk, forcefully suppressing the distracting thoughts in his mind.
"The Hang Seng Index is at 6480 points?" He Zhengcheng's eyes were a bit blurry.
"Yes! There's significant resistance at every price level," Xu Xin confirmed.
"I have over 4 million in this account, and there should be 2.6 million in that account. After deducting what I borrowed from friends and the 5 million needed for minimum repayments, I can afford to lose at least 1 million. I'm willing to use this 1 million to contribute to Hong Kong!" He Zhengcheng declared.
"This is meaningless!" Xu Xin argued.
"No, it's meaningful. At least it will bring me peace of mind." He Zhengcheng watched the Hang Seng Index futures break through 6480 points and immediately bought 20 long contracts at market price.
"I'll lose a million with you too!" Chao Yang said.
"Brother Yang, there's no need!" He Zhengcheng turned to dissuade Chao Yang. The key resistance point had been breached. Although there was some support below, the Hang Seng Index was likely to continue falling. Their long positions would most likely result in a loss.
"What's money? If it's gone, we'll earn it back. I refuse to believe that the people of Hong Kong lack the courage to fight back," Chao Yang stated.
"The market is about to close!" Xu Xin noted.
"Yes, I hope we don't lose too much." He Zhengcheng watched the Hang Seng Index fall below 6480 points, feeling neither joy nor sorrow. Men, sometimes, are very concerned about gains and losses, and sometimes they don't care about anything. Throughout Daxia Country's history, there has never been a shortage of martyrs. He Zhengcheng didn't plan to be a martyr, but that didn't mean he was afraid of such a fate.
"Five more minutes!" Chao Yang announced.
"The Hang Seng Index is rising!" Xu Xin exclaimed.
"Yes, it's finally rising!" He Zhengcheng said. The Hang Seng Index quickly returned to 6480 points.
"Did they give up the attack, or were they pushed back?" He Zhengcheng, not understanding market analysis, asked Chao Yang.
"I can't tell, maybe... I don't know!" Chao Yang replied.
"It's closed, at 6505 points!" Xu Xin announced.