Chapter 1275: saviour

"Chairman Li, this is Yang Zhenhua from Bank of China, do you remember me?"
It took Li Fuzhao a lot of time to remember who this Yang Zhenhua was-I don’t remember how many years ago. The person in charge of the Bank of China in Hong Kong seemed to be called by this name. Later I heard that he was promoted, but this person fought him. I haven’t had much dealings. At that time, China State-owned Bank seldom invested funds in the higher-risk stock market. Well, even now it’s almost zero... Wait, it seems, something extraordinary has occurred!
At such a sensitive point in time, senior leaders of the Bank of China suddenly called himself, could it be because...
Li Fuzhao was so excited that his nerves were tense. He thought of a possibility, a possibility to save the Hong Kong stock market and the Hong Kong economy!
Well, isn't it just my own wishful thinking? But don't!
Like a drowning man, suddenly grabbed a straw that seemed to be able to save lives. Li Fuzhao barely controlled his voice to make it sound less trembling. He said, "I'm Li Fuzhao, President Yang, how are you? long time no see."
There was a hearty laughter on the other end of the phone: "Chairman Li, I am fine, but I heard a friend of mine say that you are having difficulties now, don't you?"
Li Fuzhao hesitated for a moment, and finally gritted his teeth and replied: "Yes, I have encountered great difficulties now, President Yang, you must have seen the performance of Xiangjiang stock market today, and I am very worried."
"Well, I heard, just right, I have a plan here, Chairman Li, would you like to listen to it?"
...
After hanging up the phone, Li Fuzhao sat quietly in the office, burying his body in the large seat and thinking for a long time, and finally made up his mind. He picked up the phone on the desk. This time, he called Xiangjiang Finance Secretary, he knows that after this call, if the other side does not express a clear objection, then everything in the future of Xiangjiang will be tightly bound to the rising country that Xiangjiang is about to return. Without dividing each other, it is impossible to cut.
And as soon as he put his hand on the telephone dial, a question suddenly flashed in his mind--Where is the sacred friend that President Yang said? How does he know this is the best time?
...
In the next few days, Li Fuzhao and the Hong Kong Financial Secretary jointly adopted a series of measures, including reducing the bank’s benchmark interest rate from 0.85% to 0.65% per month, exempting listed companies from repurchasing the company’s shares, and more. An incumbent political and economic representative of Hong Kong gave a speech to boost confidence, and Mr. Li Jiacheng, the banner of Hong Kong's wealth myth, announced the repurchase of 1 billion Hong Kong dollars in the stock of its own listed company, Yangtze River Industrial...
The implementation of this series of measures cannot be said to be ineffective, but it has only narrowed the decline. In the turmoil of the global financial market, a large number of speculators have placed their bets on the shorts and the pressure of selling. It is extremely huge, which makes the Hang Seng Index unable to get rid of its downward trend until this day.
November 2, 1987, was another Monday.
As soon as the market opened, the Hang Seng Index continued the inertia of the previous week, stepping out of a smooth and mellow downward curve, and piercing the last psychological defense line of 1,000 points in a flash. In the trading floor of the Stock Exchange, there are sparse people. Looking at the big screen, shaking his head and sighing helplessly, even the mood of whispering about the market is gone-but at this moment, the curve that is constantly descending suddenly stopped!
It stopped!
Then, a wave of turbulence began, and the old stockholders realized what this meant. This was a signal of a massive influx of buying orders, and this was a signal that the stock market was building a bottom!
What does bottoming mean?
It means that buying and selling have reached a dynamic balance, which means that there is money to buy bottoms!
There is a wave of rebound that can be beaten!
This is the first reaction of the bold.
Someone is in the city!
This is the first reaction of experienced veterans.
Finally stopped the fall, can you stand firm and let yourself lose a little less?
This is almost everyone's first reaction.
As they wished, the HSI curve continuously fluctuated around 1,000 points, showing that both the long and the short were engaged in a fierce battle with no visible gunpowder. For a whole day, the positions changed hands repeatedly, but before the final closing, the long finally finally closed. Having achieved a phased victory, the Hang Seng Index stood firmly above 1,000 points!
On the second day, the bulls continued to exert their strength, while the bears seemed to have consumed their energy in the hurricane advance of the previous day. They appeared weak. After a few symbolic resistances, they gave up. The market closed on the same day. A hundred points, an increase of nearly 10%!
It wasn't until the evening of this day that the stockholders in Xiangjiang finally knew what had happened-the chairman of the Stock Exchange, Li Fuzhao, gave a televised speech in which he did not hesitate to say something about the mainland and made special comments many times. Emphasize, thank "Bank of China" for its timely action to save Hong Kong's economy!
His speech was immediately caught by U.S. reporters who followed the movements of every financial center in the world. So, on the Wall Street Financial Times the next morning, the headline on the front page was "Xiangjiang’s market confidence was rescued by Beijing." (Based on historical facts, the author's note).
I don’t know if it was intentional or coincidental. In the evening news of the same day, a video of the president of "China Bank" interviewed by reporters was shown. In this interview video of only a few tens of seconds, the president seemed to reveal very casually. This is an important piece of information-Huaxia currently has more than US$20 billion in foreign exchange reserves and is fully confident and capable of dealing with any international financial fluctuations and challenges.
This is a reassurance. Even the stupidest person knows that Beijing chose to release this interview video at this time. This is obviously a warning to the international short-term forces to let them stop and retreat when it is difficult!
The Hong Kong stockholders, who gradually got rid of panic, finally regained some confidence under the stimulus of these successive good news. They began to try to buy, little by little, pushing the Hang Seng Index higher, and they didn’t know. Yes, in the Xiangjiang stock market at this time, the amount of capital with the background of China Mainland has reached 10% of the total market value of all stocks at this time...
With the support of the "Bank of China" and other Chinese-funded institutions, Xiangjiang finally got rid of the quagmire and gained a firm foothold. However, that was because the original volume of the Hong Kong stock market was not too large. In the global financial market It was only a rising star, and because of the giant Huaxia standing behind it, it was saved.
But what about other stock markets?
Wall Street, Sydney, Toronto, Frankfurt, London, where are their saviors? Who has the ability to hold them so large?