Reborn as a Noble s Son - Chapter 460

Chapter 460: Chapter 430 London Port Stocks_1
At noon, the Eastern Harbor Securities Exchange issued a suspension notice, startling the local investors of Donggang. In the afternoon, the first Chief Executive of the Donggang Special Zone held a press conference at the Chief Executive’s residence.

The spacious newsroom in the Chief Executive’s residence was packed with over a hundred people. Now, the eyes of the entire world were centered here. The financial crisis in Donggang, the international capital flow, Soros, the Huaxia government, all were news topics that could attract worldwide attention. Now that these issues had converged, it was impossible not to draw attention.

Lianhe Zaobao, The Times, Wall Street Journal, CNN, and many other media outlets and news agencies from around the world were all gathered in the newsroom.

All television media outlets had secured their spots for camera placements, with the best spots naturally taken by the local Phoenix Station and the state television station from the mainland.

For a moment, when Chief Executive Tong entered the newsroom escorted by officials from the Special Administrative Government, flashes from cameras filled the room with brilliant light.

“Dear members of the press and guests, Donggang Special Zone’s current economy has suffered a ruthless attack by some malicious organizations. Mr. Tong will speak on this matter on behalf of the Special Administrative Government,” the emcee introduced the basic situation, leading into the main topic. The efficiency of the Special Administrative Government was indeed exceptional.

As the emcee’s voice faded, Chief Executive Tong stepped forward and began his statement in a heavy Hong Kong-accented Mandarin, “This past week, the market index dropped by over 20 percent, the largest weekly drop in nearly two decades. The foreign exchange and futures markets have also suffered a heavy blow. But with the support of the central government, I believe that the Donggang government has the ability, determination, and confidence to lead Donggang towards a brighter future, to maintain the prosperity, stability, and healthy development of Donggang’s economy. This is the goal and direction of Donggang Special Administrative Government’s efforts, and also the hope of the central government. After discussing with colleagues in the Special Administrative Government, with the approval of the government and the treasury, the Special Administrative Government will use its reserve funds and foreign exchange reserves to intervene in the foreign exchange and stock markets, striving to maintain financial stability.”

Following the Chief Executive’s speech, dozens of representatives and executives from the blue-chip and red-chip companies in Donggang issued strong condemnations against the international capital flow, and announced plans to execute share buybacks in their companies to maintain shareholder confidence.

Soros became increasingly uneasy when the news came out. He paced back and forth in his office, mumbling, “There must be a conspiracy. These people of color are simply despicable.” Suddenly, Soros paused, opened his mouth wide in shock, and murmured, “Hong Kong stocks, London Hong Kong stocks!”

Clerk stepped into the room at that moment as well. Seeing his boss acting almost as if he had lost his mind, Clerk was dumbstruck. He always saw his boss as the epitome of calm and composure. Nothing had ever driven him to such madness before. This wasn’t like him at all. Everything was going according to the plan, so what was causing all the tension now? Wasn’t a significant market drop exactly what they wanted to see?

“Boss, what are you talking about ‘London Hong Kong stocks?” Clerk asked quietly.

As Soros’s professional assistant and a financial expert, Clerk had simply been caught off guard. He quickly grasped the situation and exclaimed in surprise, “Boss, you’re suggesting that those damn Asians will use the traders in London’s Hong Kong stock market to absorb a large number of Hong Kong stocks in London, thus influencing the Donggang index?”

“Exactly. The London stock market’s unique feature is that it requires a dealer for transactions. Unfortunately, we can’t participate in it. This creates an opportunity for Donggang and Huaxia – by using the London stock market, they can boost the confidence of Donggang investors. Then, once the market opens, if they aggressively purchase stocks to support the market, there will definitely be follow-up orders. If we can’t break through the 6500 psychological barrier, we’d be in danger,” Soros explained.

“Boss, you’re overthinking it. It’s just the London stock market. Even if it does have an effect, it can only influence the stock market. It shouldn’t significantly affect our grand plan. Our main strategy is our hedging in the foreign currency market, that’s our trump card,” Clerk casually stated. His tone was rather dismissive.

Following their rampage against the Southeast Asian countries, this young assistant was filled with confidence in himself, the fund, and Soros. If they could toy around with Dongying, there was no reason Donggang’s Special Zone would be any different.

Soros sighed and turned to his assistant. “Clerk, don’t become complacent. Operating a hedge fund is no less than waging war with any country. This is a war in the field of economics. Any oversight can lead to complete collapse. Don’t underestimate the power of individual investors. Huaxia has an old saying, I think it goes somewhat like this, ‘Without the accumulation of small streams, there would be no river or sea. Without the accumulation of small lumps of dirt, there would be no mountains.’ Its meaning warns us to never be careless. The London market, although it’s an offshore market requiring a dealer for transactions, can influence Donggang’s individual investors. If these people don’t panic and hold their stocks firmly, then we can only admit defeat. Do you understand?”

The timing between the London Hong Kong stocks market and Donggang stock market meant that the London market starts trading right after the Donggang’s market closes. Today was destined to be the day when London’s Hong Kong stocks market made a name for itself.

On this day, negotiation agreements were concurrently made with the operators by the 28 blue-chip stocks listed in London. The total investment reached several billion US dollars. When the news reached Donggang, the whole harbour was in an uproar – a sign of things to come. It meant these companies were defensive about their stocks, and moreover, they had used such a massive amount of capital, demonstrating their full strength.

Meanwhile, the Huaxia government and the official media have been consistently publicising commentaries by news analysts over the last two days, including the live interview with Premier Yun Bo from the central government. Premier Yun’s powerful and resonant speech which articulated his unwavering confidence and resolute determination to maintain the prosperity and stability of Donggang, greatly elevated the spirits of the people in Donggang.

After two days of brewing, the confidence of Donggang’s stock investors had already been stirred. When the market opened, basically, there were no sellers present any longer. Almost all had increased their holdings.

Nie Zhenbang on the other hand, was also fuelling this trend further using multiple orders. The stock that closed at around 6800 last Friday has been continuously climbing and is now near 6900, appearing to break through the 7000 threshold soon.

“Team leader, this isn’t good! A large amount of sell orders has appeared in the market; most of them are stocks of red chips, small and medium-sized enterprises and some tech firms. The market index is being suppressed once again. According to estimates, there’s still a trend of further falls,” Huo Gang shouted while he was trading.

Unexpectedly, there were so many stocks from these companies in the hands of these retail investors. And these people had already abandoned their strategy, no longer suppressing blue chips and turning to attack these small and medium-sized enterprises and red chips instead. At this point, the blue-chip companies were powerless. They were capable of protecting their own stocks only, not assisting others. This was already considered a tremendous feat.

Falling below 6800 shortly after and then 6750 within half an hour, it stirred panic among the retail investors yet again. The confidence they had recently managed to build was crumbling at this moment; without government intervention, they were all panic-stricken.

Around ten-thirty, the stock index plummeted dangerously close to 6600. At this moment, Nie Zhenbang, observing the market trends and transactions, commanded in a deep voice, “They should be running out of cards. Buy in, buy as much as we can. Prior to market close, we must boost the index above 6800 again.”

In accordance with the consecutive set of orders handed out, with Nie’s funds and a vast number of accounts, they began aggressively acquiring securities.

Inside the bustling trading hall of Eastern Harbor Securities Exchange, where thousands had gathered, an utterly depressing atmosphere lingered, shrouded in a monotonous green light coming from the screens.

Suddenly, a voice bellowed, “Look, look quickly! The trading volume is magnifying – the market is being driven up. The government has taken action!”

This announcement immediately erupted in cheers, breaking the silence with deafening cries of jubilation.

Following this, a young man shouted: “Topping up! Only a fool wouldn’t top up at this moment. Opportunities are fleeting. With the government stepping in, it’s a sure-win situation.”

This call to action reanimated the previously gloomy market, and the yellow-vested brokers in Donggang Securities Exchange began to bustle about.

Under the surveillance of various securities firms, retail investors resumed trading. By noon, the index had risen again, returning to around 6800. At this moment, in the trading hall on the 70th floor, joyous cheers of victory erupted once more, and the deputy team leader, Zhang Yunfan, was also beaming with delight. “Team leader, this time the retail investors must have suffered heavy losses. I think we can essentially wrap things up now. As long as they’ve used up their chips, they’ll have no means left and will be forced to retreat.”

Nie Zhenbang was still maintaining a calm demeanor, looking at the data presented by various securities firms. This morning, from ten thirty to noon, the funds added by small and medium investors were the dominant force. This was what pleased Nie Zhenbang. Mobilising these forces would give them hope for victory in the defense battle.

Then, Nie Zhenbang said in a deep voice, “Yunfan, we can’t declare victory prematurely. Judging from the current situation, it is surprising that these international retail investors hold such a large number of shares. This must have been premeditated. There’s still a tough battle to fight in the afternoon. Now, let everyone eat and rest. Recharge and prepare for the work in the afternoon.”

At this moment, Soros, who had been looking grave all this while, finally cracked a smile, “Finally, they have taken action. With such a large volume, the funds must be strained now, and they will have to prepare funds to resist the potential impact on the currency market. I am curious to see how you will hold up this afternoon.” (To be continued. If you like this novel, please come to mybestnovel.com to vote, sponsor, and support. Your support is my greatest motivation.)