Reborn as a Noble's Son

Chapter 458: 429 Thrilling_2

Chapter 458: Chapter 429 Thrilling_2
This large gap, a massive 3.8 percent, had created the largest low opening gulf since the beginning of stock trading in Donggang.

Then, under the leadership of these blue-chip stocks, various stock commentators began to voice pessimistic opinions. Many asserted analytically that hot money was entering the market alluding that Donggang might experience a rerun of the Southeast Asian financial crisis. Within an hour of opening, the Hang Seng Index had plunged to around 7800.

At the same time, the East Harbor Securities Exchange announced an immediate two-hour suspension of trading. This meant that there would be no more trading that morning and the battle would resume in the afternoon.

At this moment, on the 70th floor of the Bank of Huaxia

Cheers erupted in the trading hall. Typically, these composed economists and traders, mostly young scholars averaging 30 years old, were jubilant over such a monumental victory.

“Team leader, most of our short positions were concentrated around 8700. We would have earned at least 600 billion US dollars by now with the index at 7800. However, these are just hypothetical gains, these short positions still need to be taken over to turn into actual profits.” Deputy team leader Huo Gang enthusiastically pointed out.

A profit margin of 900 points was sufficient. If the pressure on the market were to continue and the Hang Seng Index were to drop further, these short positions could potentially turn into worthless pieces of paper if no one ever accepted them, thus nullifying the investment made.

Considering this issue, Nie Zhenbang pondered for a moment and then made his decision: “Starting from tomorrow, let’s gradually release our short positions. We shouldn’t do everything all at once. Scatter all of these out. Don’t alert our competition too early.”

As Zhenbang was discussing how to make a profit by closing his positions, Soros was also busy with his plans to steadily decrease the value for that week. He planned to join up with other hot money to massively sell off various stocks and suppress the Hang Seng Index, then disrupt the foreign exchange market by selling off the Hong Kong Dollar until the Hong Kong government is unable to manage, ultimately leading to a total financial collapse.

However, now, this sudden significant decrease had thrown the rhythm off and many hot money investors are clueless. Numerous calls were being made to Soros.

“George, what’s going on? Didn’t we still have a week? How did the Donggang index drop so fast?” Sorosus full name was George Soros. Usually, he’s called George by his friends.

“Mr. Soros, have you already begun? By doing this, you are breaching our agreement.” This was the query of the ordinary partner.

Soros was also bewildered. Could it be some unknown hedge funds acting on their own? However, on the surface, Soros could not reveal any sign of panic. He calmly explained to the others, “Of course, everything is under control. This is the doing of a mysterious partner of mine. The aim is to test the bottom line of the Huaxia government. Now it seems, the Huaxians dare not move. Gentlemen, enjoy this feast to your heart’s content.”

After hanging up the phone, Soros’ expression darkened. He instructed his assistant, “Clerk, investigate immediately. Who’s selling shares and suppressing the Hang Seng Index? Also, tell our people to be ready to square off their positions at any time.”

As trading opened in the afternoon, Nie Zhenbang’s side gradually released their short positions to close their positions. These orders, as soon as they appeared on the futures market, were immediately snapped up. This downward trend of the market meant that whatever order they could get their hands on was money. There was no reason not to take them.

Eventually, under this two-tiered pressure, by closing time, the Hang Seng Index was suppressed at 7792 points. From last weekend’s 8257 points, it sharply plunged by more than 400 points, nearly 500 points.

Over the next three days, headed by Lee Superhuman, these blue-chip companies continued to secretly sell off a small number of shares. The stock market was further suppressed.

However, the daily drop was not as crazy as the first day. On Tuesday, the stock index closed at 7582, dropping 210 points. On Wednesday, the stock index dropped to 7415, down more than 160 points. On Thursday, the stock index closed at 7210, a decrease of 205 points. In just four days, the Donggang stock index plunged from a high of 8700 to around 7200, a full drop of 1500 points. Trillions of funds evaporated in this round of downturns. Zhenbang liquidated a massive number of short positions, amounting to millions. According to the leverages in the futures market, the funds involved reached trillions of US dollars. The profit earned well exceeded Zhenbang’s expectations, not 600 billion US dollars, but over 900 billion US dollars. With the compensation paid out for the losses of several companies, Zhenbang made at least 600 billion US dollars.

At this time, Zhenbang didn’t have much short positions left. As trading started on Friday, Zhenbang firmly said: “There’s no longer any need to hide. Release all our short positions in trades of 100,000.”

With this order from Zhenbang, everyone understood, counter-attacking would begin. At this moment, without any hesitation, a sea of short positions was released, and the entire futures market had begun to quake.