God of Rebirth Trader

"Don't go out and take a look. The competition in the telecommunications industry in Hong Kong is too fierce now. There are seven or eight companies in Central alone." Lin Zeju stood in front of the floor-to-ceiling window and pointed outside and complained.

"The fierce competition shows that there is a demand for this in the market. Have you considered paying a monthly fee?" Chen Weidong was amused by his appearance.

"This is not feasible. If you subscribe to a monthly subscription, it will not only affect profits, but also there are too many people online, and the bandwidth may not be enough during peak periods." Lin Zeju continued to explain.

He once worked as a manager in a telecommunications company affiliated to the group for two years and has a certain understanding of this aspect.

It's not that they don't know the benefits of open monthly subscription, but the backbone infrastructure can't keep up.

"How big is the whole of Hong Kong? I will personally contribute 1 billion to help speed up the network in Hong Kong!" Chen Weidong said decisively.

"Then it's up to you." Lin Zeju finally agreed to the plan after some consideration.

He is not a fool. If the Internet can be purchased on a monthly basis, users will have more time to spend on the Internet, and the ones who will benefit the most are the infinite companies with instant messaging software.

The advantages outweigh the disadvantages, so what's there to object to?

In the 1990s, it was definitely a very luxurious thing to have unlimited Internet access without having to worry about Internet fees.

It is precisely because of this that when the telecommunications company under the Yellow River Group launched a monthly Internet package, countless people began to truly feel the charm of the Internet, and since then they have been deeply involved and unable to extricate themselves.

The emergence of Chen Weidong only accelerated this process.

1997, early May.

The real estate boom has brought about economic overheating, which directly pushed up the Hang Seng Index.

Soon it broke through the dot mark, and the stock market became extremely hot. Trading was crazy and hot, and unknowingly it entered the era of the so-called "shark fin rice"...

Antler Building, ninth floor.

Infinity Private Equity Conference Room.

"Mr. Chen, the market enthusiasm is very high. Many outside experts say that the market will reach 20,000 points this time." The manager of the human resources department said excitedly.

The market conditions have been very good recently, and he also bought some stocks and made a lot of profits.

"Haha, Lao Zhang, the market is overheated, but I think it will pull back soon." Feng Yiwen was obviously not a dabbler like Lao Zhang, and he quickly smelled the danger.

"I also think it should at least rise to 20,000 points before pulling back. The latest economic data shows that Hong Kong's economic growth this year is very rapid, so we can still be optimistic." One of the analysts said.

"There is not much correlation between real economic data and the stock market...I think..."

"No, it should be..."

...

Everyone in the conference room held their own opinions, and everyone had different opinions. It was noisy and noisy, like a vegetable market.

Chen Weidong sat silently, not knowing what he was thinking.

Gradually, when everyone stopped talking and looked at that position, Chen Weidong finally said: "Withdraw all unnecessary funds and don't buy any more Hong Kong stocks in the near future."

"This...Mr. Chen, we have a few stocks and we have just deployed funds into them. If we withdraw them now, wouldn't it be in vain?" The head of the fixed income department said cautiously.

Their department is mainly responsible for some less risky products and is very dependent on the general market trend. Now the stock market is rising steadily. It would be a pity to withdraw like this.

"The stock market is not far away from a collapse now, and it will not take more than two months at most."

"Never take the last bite of food, otherwise you will be left to pay the bill accidentally." Chen Weidong warned somewhat seriously.

Hearing these words, everyone present was shocked.

No one dared to refute, and no one dared to ask why the collapse occurred and what the basis was.

Because since this year, Chen Weidong’s numerous predictions have been successful, with an accuracy rate of 100%!

He said that if the stock market is going to crash, something bad is going to happen.

Everyone had no objections.

Chen Weidong added: "Next, what we have to do is to convert all the money into Thai baht..."

...

at the same time.

New York, Wall Street.

Inside Soros's office.

"George, can we do it now?" Rhodri Jones, chief trader of Quantum Fund, asked.

"How many baht do we have borrowed now?" Soros asked, lying on a chair.

"About 140 billion. Including Tiger Fund and other institutions, it should be close to 300 billion." Jones thought for a while and replied.

"Very well, inform them to start squeezing the bubble out of Thailand."

Soros gave the order, and the Quantum Fund, which had accumulated chips for several months, finally launched a fatal impact on the Thai baht again...

1997, mid-May.

Thailand.

A number of foreign financial institutions issued reports stating that Thailand’s current asset price bubble has become very obvious.

Many real estate developers have difficulty paying interest, but banks still help developers find more US dollar loans...

From 1993 to 1996, Thailand's real estate prices increased by nearly 400%, and the SET index also reached a record high of 1410.33 in January 1996...

According to statistics, the non-performing assets of Thai commercial banks reached 1.78 trillion baht in June 1996, with the non-performing asset rate as high as 35.8%...

Since the Thai baht is pegged to the US dollar, the appreciation of the US dollar has caused the Thai baht exchange rate to continue to rise, causing Thailand's exports to suffer and economic growth to slow down. In 1996, Thailand's GDP growth rate was only 5.65%...

The Thai baht may depreciate by 40%...

The Thai baht may be decoupled from the U.S. dollar...

Numerous pieces of information that are difficult to distinguish between true and false suddenly appeared on the market, catching the Thai people off guard.

Immediately afterwards, Thailand's stock market, property market, and foreign exchange market began to shake...

at the same time.

Quantum Fund began to sell Thai baht aggressively and exchange it for US dollars. The spot exchange rate of Thai baht repeatedly exceeded the exchange rate floating limit stipulated by the Bank of Thailand, causing strong panic in the market.

The Thai baht depreciated against the US dollar from 27:1.

In order to prevent international hot money from continuing to obtain the Thai baht, and in response to private bank runs, Thailand ordered financial institutions to suspend operations.

But what they didn't expect was that this order unexpectedly deepened people's distrust of the banking system, causing panic to quickly spread across the board!

Countless bank entrances are crowded with people. They all feel that the Thai baht is about to collapse, and it is safer to exchange it for US dollars.

Public confidence was lacking, a large amount of money fled from the financial market, and the stock market was also affected, triggering an unprecedented plunge.

Facing the fierce and well-prepared international speculators, Thailand finally could no longer sit still.

A three-pronged strategy was immediately adopted.

In order to maintain the fixed exchange rate of the Thai baht against the US dollar (25:1), it did not hesitate to spend a large amount of foreign exchange reserves to purchase a large amount of Thai baht sold in the foreign exchange market.

Member states through the "East Asia Central Bank Presidents Conference" jointly intervened with Singapore in the foreign exchange market and invested US$12 billion to maintain the exchange rate.

Domestic financial institutions were ordered to ban the lending of Thai baht to Soros, and the overnight lending rate was significantly increased, from 10% to 1,000-1,500%.

After a fierce battle.

Thailand finally held the baht at 25.2 to the dollar on May 20.

However, it was this attack that caused Soros to lose US$300 million, but he had completely seen through Thailand’s trump card!