My Fintech Empire

On the next day, Thursday, August 12, the RMB exchange rate plunged again by more than a thousand basis points during the day. The previous value of the offshore exchange rate was 6.3901. Today, the highest intraday depreciation reached 6.5939, and the largest intraday drop reached -3.19 percentage points.

The maximum drop in two days reached 6.12 percentage points, which is equivalent to the loss of more than 60 million yuan of 1 billion funds in two days. The fluctuation was 6.12 percentage points in two days. This is the volatility of the foreign exchange market, which is the index placed in the stock market. It also fluctuated violently.

Some people are happy and some are worried. Those who hold US dollars in their hands can be said to have earned a year's profit, while arbitrage is simply bad. For some foreign trade companies whose profits are not high, those who happen to hold RMB have almost made their work in vain for a year.

For a time, the market was full of rumors, and the European and American media were extremely "concerned" at this time, making headlines and special reports, exacerbating the spread of panic.

The impact of this incident not only exceeded the expectations of the entire market, but also greatly exceeded Yangma's own expectations.

The continuous sharp depreciation of the RMB has also caused the currencies of many emerging markets to depreciate with greater magnitude, such as Kazakhstan, Elos, Malaysia, Brazil, Turkey, etc.

Investors around the world are beginning to worry about the recurrence of the Southeast Asian financial crisis of 1997, which will further make the U.S. dollar a scarce commodity. America is secretly enjoying herself at the moment, and she does not take the matter too seriously. She further uses her media advantage to exaggerate it. There’s not enough panic.

Now the global market is staring at the RMB, and everyone is asking one after another: How much will the RMB exchange rate depreciate? Should we sell RMB assets now? Will there be a "double kill" situation in the stock and foreign exchange markets? What’s wrong with the Greater China economy?

However, compared with the foreign exchange market, today's stock market only corrected 1 percentage point. Relatively speaking, the stock market has withstood the pressure because the main funds of Qunxing Capital are still working.

But at this moment, Tian Jiayi was chatting with Fang Hong on WeChat: [The whole market did not expect this, and you are the only one who accurately predicted the result. I didn’t listen to you about the over-the-counter capital allocation last time. Of course, this time I didn’t listen to you either...]

Fang Hong passed with a smiling and crying expression.

Tian Jiayi sent a message again: [Should we take action in the foreign exchange market? ]

Fang Hong edited the message and replied: [No, don’t expose our offshore ammunition yet, don’t jump out in a hurry. The real opponent has not yet been revealed. The situation is now chaotic, turbulent, and there are too many uncertain factors. If Variables occur, and if you accidentally miss the mark, everything will be lost. The situation is still in a period of chaos. If you strike first, you may be controlled by others. Therefore, at this time, you must maintain strategic focus, make decisions before acting, and strike later. ]

After a while, Fang Hong edited the message and replied: [Besides, let’s take precautions beforehand. We are not a professional firefighting team, and we did not light the fire. It would be very kind of us not to take advantage of it, not to mention that we are bleeding heavily at the moment. Two trillion yuan is supported by the stock market. At this time, we are asked to rush to the front line to put out the fire. Others can't say this. ]

Fang Hong edited the message again and sent it: "By the way, let's compile some materials. I want to know the flow of international hot money in the mainland in the past 20 years, as well as the outflow of domestic capital." ]

Here Fang Hong is chatting with a beautiful assistant on WeChat. On the other hand, in the face of market doubts and panic, the central government is forced to put out fires. On the one hand, it promises that the RMB exchange rate will remain stable to stabilize market expectations. There is no basis for substantial depreciation. On the other hand, it also took action in the foreign exchange market and had to use foreign exchange reserves to sell US dollars to stabilize the RMB exchange rate.

As the central bank took action to sell US dollars to take over, the exchange rate stopped falling to 6.5939, and closed at 6.4663 today, but it still depreciated by hundreds of basis points, with an intraday decline of -1.19 percentage points.

Not long after, a rumor came out from nowhere in the market that it was the intervention of Qunxing Capital during the session that caused the depreciation of foreign exchange fluctuations to stop falling and rebound. Many people believed this rumor because the A-share market had plummeted and rescued the market with RMB 2 trillion. If you can and are willing to take this money, it cannot be ruled out that Qunxing Capital will take action due to the current situation in the foreign exchange market.

But not long after this rumor came out, Star Capital came out to refute the rumor in time.

The person who leaked this rumor also had sinister intentions, and was somewhat provocative. If he didn't come out to clarify the rumor in time, it would inevitably make Yang Ma think that he was trying to take credit for his inability to do anything.

This incident was just an insignificant incident. After the central government used its foreign exchange reserves to take action, the foreign exchange plummeted by more than half. In the next few days, the foreign exchange market was temporarily stabilized, and there was no daily fluctuation. Thousands of basis points fell wildly.

The stock market has also rebounded slightly in the past few days. On Monday, August 17, the market index rebounded again by +0.71% that day, closing at 3993.67 points, just one step away from the 4000 point mark.

In today's A-share market, the Galaxy Concept Stocks can be said to have stolen the show in both cities, because today all 22 stocks once again reached their collective daily limit and reached a new all-time high, a trend that stunned investors from all walks of life in the two cities. Come.

WeChat, a newly launched stock, hit the daily limit with a closing price of 45.92 yuan and a market capitalization of 1,010.2 billion. This is the first time that WeChat has reached the trillion-dollar market capitalization mark and it is also the third company under Qunxingxing to have a market capitalization of over one trillion yuan.

Currently, there are 8 companies with a market value of trillions in the A-share market and the two cities, and Galaxy Group accounts for 3. WeChat, which just reached the trillions in market value today, ranks 8th.

Quantitative capital after the stock split hit the daily limit today, with the stock price reaching a record high of 107.13 yuan, with a market capitalization of 1.4976 billion, ranking fourth in A-shares after the first bank in the universe. This round of reversal has started from the bottom. , a cumulative increase of +143.22%.

But the one with the strongest reversal and rise in Galaxy stocks this year is undoubtedly Toutiao, the biggest demon king this year. After the stock went out of the daily limit today, the stock price hit a record high of 210.40 yuan, from a low It rose to 76.54 yuan, with a cumulative increase of an astonishing +174.89%, and the market value climbed to a huge 263 billion.

The stock with the strongest growth this year is undoubtedly Toutiao. Less than 5 months since trading resumed on March 9, it has actually achieved a cumulative increase of +6475%, an increase of 64.75 times in less than 5 months. A lot, and it seems that this posture has not reached its peak yet.

However, not a single retail investor got anything from the resumption of trading that has not been sold today. Many people got off the bus with trepidation after eating for a while, and then got on the bus again, over and over again. Some people also made a lot of money, but there were also unlucky people who ate a lot of money.

In addition, after Jiuzhou Blue Arrow hit the daily limit today, its market value has also reached the 800 billion mark, ranking among the top ten in the A-share market. It looks like another company with a market value of one trillion.

If you look at Big A's current market capitalization ranking, you will be shocked to find that among the top ten listed companies, Xingxing already accounts for 4, accounting for almost half of the country.

No one expected that these stocks in the Galaxy were not at the peak when the market peaked at 5178 points, but would reach new peaks in such a short period of time after the catastrophic market plummeted by half, and this trend was actually better than the previous bull market. Be strong during this period.

People who had opened positions one after another when the Galaxy Concept Stock was cut in half are now going crazy with joy. There are also many people who lost money in the previous explosive market and are relying on the surge in the Galaxy Concept Stock to recover or even make a profit. I made a small profit.

With the continuous surge during this period, anyone who dares to get on the bus and can hold on to it for a few days will basically be able to eat big meat.

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