My Fintech Empire

The next day, Wednesday, April 20th.

Today, the A-share market's NSE 50 Index opened at 1555.61 points in the morning, opening higher by +0.86%. After the opening, it also opened higher and moved higher. It reached a maximum of 1575.05 points around 10 o'clock in the session, and the increase expanded to 2.12%.

This position was the intraday high of the NSE 50 Index today, and then it began to rise and fall, and it was officially confirmed to have entered the adjustment stage in the afternoon.

It has been rising wildly for two days, with an exponential daily limit in one day and a sharp increase of more than 5 points in one day. The cumulative increase in the entire exponential main wave from the bottom of 780.15 points has doubled. The NSE 50 Index also needs to be adjusted. , no matter how good the index or market is, it is impossible to keep rising like this.

At 15:00 p.m., the NSE 50 Index closed down -0.89% at 1,528.65 points. The trading volume also shrank, with today’s trading volume being 2,206.

What I have to say is that Fang Hong’s live broadcast last week gave thousands of investors a new understanding of the financial market and a new understanding of the A-share market, which was easy to understand.

For example, individual stocks can be refinanced, but ETF funds can also be used for securities lending, which many people didn’t know existed before. As a result, ETF funds on the main board market can also be lent out to people for short selling, which not only earns your management fees, but also helps the short sellers to ruin your own market.

This is not just eating your food and ruining your pot. No wonder Big A can't always buy it all. After you buy it with your front foot to cover up the position, you lend out your back foot to let others smash the market. The more you cover the position, the more the short sellers will hit.

Although the interest income from securities lending is still calculated for fund/ETF holders, that amount of interest cannot cover the losses caused by the large number of short positions. For the sharp decline in the net value of the ETF itself, the interest earned from securities lending is 0.5 percentage points of gains, and as a result, the net worth has plummeted by more than ten percentage points.

Not to mention the extremely explosive operation of "coin-based coupons". The borrowed coupons do not need to be bought and returned in the market. We can just discuss using cash to settle the transaction. Then short sellers must not use all their strength. Go hard, the lower you go, the less money you have to pay back during settlement, which means you earn more, and you don’t have to worry about the risk of being shorted by bulls.

International short sellers will be shocked when they come, how can they still play like this? It’s also an eye-opener!

The stock investors who had just realized these things broke through their defenses and were completely trapped in Bengbu. When the A-share market opened this week, countless stock investors cut off their positions one after another. Even those who were deeply trapped by the cut in half no longer chose to lie down and pretend to be dead. Instead, he directly took the loss and was out.

But this was also the last time, because after they came out, these investors never planned to come back. Instead, they used the remaining money to buy the SGX 50 ETF and resolutely threw themselves into the arms of the SGX.

There is no refinancing of restricted stocks, and there is no ETF lending, so there will be no chance that the chips you bought will ruin your market.

Thanks to the support of peers, the NSE 50 ETF has been bought up by thousands of investors. The market value of a single Huasha NSE 50 ETF has reached more than 230 billion, and it is rushing towards the scale of 300 billion. The total capital of the five NSE ETFs is The scale has soared to an unprecedented 710 billion mark.

…

About twenty minutes after the market closed, the SGX headquarters.

A man hurriedly entered the general manager's office. With a solemn expression, he said to the top leader of SGX: "Mr. Wu, I just received the news that something happened to WeChat."

General Manager Wu knew something was wrong when he saw his face, and immediately asked: "What happened?"

The man immediately responded: "WeChat's major shareholder illegally reduced its holdings by 1% of its shares and has cashed out from the secondary market."

As soon as these words came out, General Manager Wu's expression changed, but then he said: "It's impossible. On the SGX trading system platform, it's almost impossible for major shareholders to illegally reduce their holdings. It's technically impossible. How can it be possible?" Illegal holding reduction in the secondary market?”

The man quickly replied: "Preliminary investigation shows that it seems that there was a BUG vulnerability in the trading system maintenance upgrade last week, and the major shareholders were able to successfully reduce their holdings. We have contacted Matrix Quantum and are urgently fixing the system vulnerability."

General Manager Wu was stunned for a while. After a while, he pretended to be calm and said: "I understand. You should go to the front line and keep an eye on it. Be sure to fix the system loopholes before the market opens tomorrow. Report any news to me immediately."

The man nodded: "Understood."

After saying that, he turned around and left the office. General Manager Wu was the only one left in the room. As soon as his subordinates left, he jumped up from his desk. He immediately walked out of the desk and walked back and forth, muttering: " Something bad has happened, something bad has happened, something big has happened..."

For the top leader of SGX to be so out of control shows the seriousness of this matter.

He knows very well that WeChat is backed by Qunxing Capital, and apart from this point, WeChat itself is also a trillion-dollar market capitalization, ranking third in the SGX market capitalization and ranking within the top ten of the entire A-share market. A billion-level super-large-cap heavyweight stock.

If it were to change to another listed company, it wouldn't be a big deal. If the holding is reduced in violation of regulations, it can be dealt with in an official manner in accordance with the regulations. If it needs to be ST, it will be ST. If it needs to be delisted, it will be forced to delist.

"Why did this happen to a listed company in Qunxingxing, and it happened to be a company of the size of WeChat..." General Manager Wu was very annoyed at the moment. He never expected that the first company on the SGX to violate the rules The company that reduced its holdings turned out to be Galaxy.

After being caught off guard for a while, General Manager Wu quickly calmed down.

He returned to his desk and sat down again. He knew very well how difficult this matter was. For the SGX, which had just opened its market, this was a huge test, and it was also a test for himself.

He also knew very well that this was a big matter and if it was not handled properly, the consequences would be disastrous.

Seeking truth from facts or double standards...

At this moment, General Manager Wu had this thought in his mind. To be honest, he must strictly handle WeChat, but what about Qunxing? What is the attitude of the stars? What's Fang Hong's attitude?

The first head of SGX seemed to realize that he was being roasted on the fire and was in a dilemma.

At this moment, he suddenly paused and thought of the hottest event in the capital market recently. He couldn't help but murmured: "Is it related to that incident? This..."

What happened during the weekend last weekend caused a stir inside and outside the industry. Of course, General Manager Wu knew about that matter. The more he thought about it, the more he felt that WeChat's sudden illegal holding reduction at this time was very likely to be related to that matter. related.

General Manager Wu said to himself: "Thinking about it this way, it is very likely that Fang Hong's opponents are counterattacking, making this incident a dilemma..."

When General Manager Wu thought of this, he couldn't help but cursed a few times, and said angrily: "Damn, I'm just sitting at home, and trouble comes from the sky. Who did I provoke? You guys are fighting in the distance. , but you brought the fire to me, what’s the matter..."

At this time, General Manager Wu firmly believed that WeChat's illegal holding reduction must be closely related to that incident. He felt that he had really been unlucky for eight lifetimes, and it was frustrating that he could not complain outside.

What I have to say is that Mr. Wu was very knowledgeable and accurately judged that this matter was closely related to what happened during the weekend.

But what he never expected was that this matter was actually set up by Fang Hong.

It's no wonder that Mr. Wu didn't expect that, except for those who knew the inside story, no one could have imagined that Fang Hong secretly performed a technically illegal operation on WeChat to reduce his holdings, but the truth was exactly the most impossible situation.

At this point, WeChat's illegal shareholding reduction has become an established fact. General Manager Wu knows that hiding is impossible. Who makes himself the top leader of the SGX now?

…