Hong Kong Comprehensive World Champion

Chapter 820 The Hong Kong government meets the financial defense battle

Early August 1997.

The Thai government's abandonment of the Thai baht exchange rate caused the Thai baht to drop by more than 20%, and the government was attacked by the public.

A series of turbulent demonstrations broke out in Thailand's capital Bangkok, important cities such as Chiang Mai and Chiang Rai.

In total, more than 100,000 people participated in the demonstrations, and more than 1,000 people were killed or injured.

Thailand's regime changed, and the Prime Minister took the lead in resigning.

The economic impact will never be limited to the economy. The anger after the loss of national wealth will be covered by the sound of bullets and blood on the ground.

Mid-August 1997.

Under the influence of fluctuations in the Thai baht, the Philippine "peso", the Indonesian rupiah, and the Malaysian "ringgit" have successively become targets of attack by international speculators.

On August 13, the Malaysian government announced that it would abandon efforts to defend the "ringgit" and change the "ringgit" to a "floating exchange rate system", leaving the national currency exchange rate completely to the free market.

This is "surrender".

that day! Bank Negara Malaysia declared bankruptcy, many large enterprises entered into restructuring, tens of thousands of employees went home on vacation, and the Malaysian financial market fell!

Western capital earned more than US$30 billion in Malaysia's foreign exchange reserves that year, and wiped out the hard work of the Malaysian people and the country's economic development for many years.

Wei Hang earned US$800 million back in Malaysia.

Subsequently, the Philippine peso fell sharply, the Indonesian rupiah fell sharply, the Singapore dollar fell sharply...

Korean Won, Japanese Yen, Hong Kong Island,

Asia's financial markets are in a shambles.

After Western capital took the lead in sweeping through the small countries in Southeast Asia, it finally began to attack the "veteran Asian powerhouses" and the "Four Asian Tigers".

Among the four Asian tigers, "Singapore" was the first to be eliminated, and Hishima squeezed into the poker table in the name of an "old country" to fill the position of the four Asian tigers.

The Asian Tigers, who have always been known as "economic take-off", are like a main course cooked in a plate...

Just served!

Western capital, on the other hand, is like a fat pig that just finished its first meal, drooling from its mouth, stuffing its napkin to its chest, with a greedy face, staring at the main courses with a knife and fork in its hand...

At the same time, South Korea established the "Bank Policy Group", Japan established the "Foreign Exchange Crisis Division", Taiwan Island established the "Department of Economic Control", and Hong Kong Island established the "Crisis Steering Group".

The entire Asian financial market is in a mess of Western capital and international hot money. It is turbulent, as if a dark cloud is overwhelming the city, and a storm is about to come!

Relying on a strong national system, sound financial barriers, and military strength, the motherland is independent of the market and as stable as Mount Tai!

In September 1997, Taiwan authorities took the lead in abandoning the Taiwan dollar exchange rate, and one of the four Asian tigers was the first to rush to the street.

Since then, the economy of Taiwan Island has not been on the rise, and only a few enterprises have supported international trade.

More than ten years later, the economically developed Taiwan Island was reduced to an urban-rural fringe. This is the economic and military dependence on the big powers, and the involuntary end! Can only be reduced to the leeks of the great powers, let you fly? That just makes you "fat".

On October 17, 1997, the exchange rate of the South Korean won against the U.S. dollar fell to a record 1008. There were many collaborators and arrogance in the South Korean government. Faint move, arrest the next batch of "true" patriotic talents.

On October 21, 1997, the South Korean government asked the "International Monetary Fund" for help, and obtained help from the "International Monetary Fund" by mortgaging state-owned assets, industries, interest rates, currency rights, etc., relying on the hundreds of billions of dollars provided by the "Monetary Fund" US dollar foreign exchange temporarily controlled the expansion of the crisis.

On December 13, the exchange rate of the Korean won to the US dollar fell to 1737.60. The National Bank of Korea went bankrupt and economic development stagnated for a time.

So far, South Korea has not only lost its "military command" to the West, but also lost its "economic autonomy."

In exchange for South Korea's future needs and prosperity by selling its sovereignty. This is why the future of the Korean economy looks good.

In the same month, the Japanese foreign exchange market fell sharply, and a series of banks and securities companies went bankrupt one after another. The Southeast Asian financial turmoil evolved into the Asian financial crisis. The economies of Malaysia, Indonesia, Singapore and other countries continued to decline, and the crisis spread until 1998.

Among the Yalong "Four Little Dragons", only Hong Kong Island survived the financial crisis while maintaining its sovereignty, allowing Hong Kong Island's economy to continue to grow... and did not accept the terms of the International Monetary Fund, aid, or sell any interests.

This makes the "Asian Four Tigers" a historical term, and an era of false prosperity has come to an end. Only the motherland's trade window, international financial free port, and Asian international financial center stand in the east.

Wei Hang, Luo Minsheng, and Fang Zhanbo.

They made repeated moves during the crisis and made huge profits in markets such as Malaysia, Indonesia, Taiwan, South Korea, etc., making tens of billions of dollars in profits!

Play a beautiful offensive and defensive battle!

Sima Xiang, Huang Shitong and other members of the Landlords Association guided the public opinion on Hong Kong Island, raised funds, and resolutely defended the Hong Kong city and resisted the attack of hot money.

Turn crisis into opportunity!

The Hong Kong market is about to launch a counterattack against the US market...

At this time, the Asian financial crisis in 1997 was not over yet, Western capital had just blown the clarion call to attack Hong Kong Island, and the wonderful counter-offensive in Hong Kong had not yet begun.

On August 3, the Hong Kong Island Crisis Steering Group released the "Financial Market Guidance Report", which stated that the Hong Kong Island market has sufficient foreign exchange reserves and advocated that citizens/capital have absolute confidence in the Hong Kong Island market.

At the same time, the report stated that the Hong Kong Island government will adhere to the principle of free marketism, ensure the purity of the international financial port, and hope to boost the confidence of all parties in Hong Kong Island.

On the same day, international speculators frantically dumped 10 billion Hong Kong dollars in selling funds, announcing the official sale!

"Damn it! Hey!" Zhuang Shikai, who was wearing a uniform at the police department and the General Administration, punched his desk and yelled angrily, "The enemy is the HKMA!"

The pen on the desk jumped up, and his eyebrows were raised, showing the anger in his heart.

Wearing a suit, Sima Xiang stood in the boss's office and said, "Director, the steering team is not guiding the Hong Kong city, but Western capital."

"Adhering to market liberalism is not telling Hong Kong island capital clearly that the Hong Kong government is not bailing out the market? Must Western capital have a good time?"

The wind direction of the government does not necessarily fully represent the direction of the market, but it will definitely have a huge impact on the direction of the market.

Hong Kong Island Capital used to keep releasing good news to the market, such as Hong Kong Island Capital has a large number of orders in Hong Kong dollars, the government has a large amount of foreign exchange reserves, and the country will rescue the market, etc., which once stabilized the cornerstone of the Hong Kong Island market.

As long as the government first releases a wave of favorable policies, and then proceeds to rescue the market step by step, the Hong Kong Island market will be as firm as a rock!

But now the government is holding high the banner of "free market" and sending a wave of bad news to the Hong Kong market, which immediately causes information confusion and mental breakdown in the Hong Kong stock market...

Is the government bailing out the city or not?

"There is a problem with the Financial Secretary." Zhuang Shikai calmed down, picked up the desk pen, and gently squeezed the cap of the pen to preach.

"Is it a problem with the Financial Management Bureau, or the Ministry of Development, or the Ministry of Economic Affairs?" Sima Xiang asked aloud.

Zhuang Shikai replied calmly: "I will send someone to investigate. But no matter whether there is evidence or not, I must let the HKMA set things right and give Hong Kong stocks confidence."

"We have made so many preparations, we must not let the enemy be defeated from within! Understand?"

"Yes! Boss." Sima Xiang said with firm eyes.

At the close of the day, the Hang Seng Index fell to 500 points and fell back to the 10,000 point mark. The whole Hong Kong was in a state of turmoil, panic grew wildly, bad news in the stock market was flying everywhere, speculators blatantly publicized that the RM currency would depreciate by 10%, and publicized the instability of mainland banks. , to create psychological conditions for it to attack the Hong Kong dollar.

Overseas funds even issued options on August 12, 1998, when Hong Kong's linked exchange rate was delinked. Speculators took the opportunity to spread rumors, threatening that "the Hong Kong dollar will soon be decoupled from the U.S. dollar and depreciate by 40%", "the Hang Seng Index will fall to 4,000 points" and so on. Trying to disturb people's hearts, create a state of chaos, and take advantage of the opportunity to fish in troubled waters.

...

"Sir Zeng, do you have time for a chat?" On that day, in the evening.

"Da da da." The "President" of the HKMA, Zeng Jinsong, just walked down the steps of the office building, put on his suit, bent over, and was about to get into the car.

Suddenly, the car door was firmly grasped by a hand.

"President! President!" The two assistants in the car held a laptop and shouted back.

I saw Zhuang Shikai wearing a majestic white uniform, looking sternly across the car: "Take a moment?"

Zeng Jinsong raised his head, his face changed slightly: "Brother One."

"You dare to take another step back! I'll invite you to the General Administration for coffee!" Zhuang Shikai stared at Zeng Jinsong sharply, his tone unquestionable.

More than a dozen police officers from the security department in black suits stood behind the vehicle, staring at the convoy of the president of the HKMA. Every police officer was full of murderous intent.

That night, the "HKMA Crisis Affairs Division" was established.

Major mainstream media, financial newspapers, and news programs, mainly based on Hong Kong Island Patriotic Capital, completely cut off reports on the "Financial Crisis Steering Group".

The "Crisis Affairs Section" began to replace the "Crisis Steering Group" to issue the latest financial policies to the public with the qualification of adhering to national interests.

This wave of alternation of "right to speak" and change of "position" was completed almost silently.

The next day, morning.

The Hong Kong stock market opened, and international speculators sold foreign exchange sales worth 20 billion Hong Kong dollars within two and a half hours. HKD/USD maintains an exchange rate standard of 7.75 to 1.

The financial defense war, the Hong Kong government is officially facing it!

For a time, the whole of Hong Kong was in an uproar! regain confidence!

The voices of Hong Kong Island capital and the Hong Kong Island government are no longer separated. The "government bailout" action has turned the policy into a consensus. The confidence of the Hong Kong Island market was greatly boosted that day, and the Hang Seng Index rose by 100 points.

...

"From now on, the Monetary Authority's caliber must be consistent with mine! Government rescue is the most effective and direct way! Immediately form a new steering group." Last night, Central, coffee shop.

Zhuang Shikai crossed his legs, touched the coffee cup, and leaned over to preach in a decisive tone.