Extraordinary Genius
Chapter 928 – Fu Rongqi can’t wait
“Professor Liang, I think it’s time to dump our stocks and stop the abnormalities in the stock market.” Fu Rongqi took a sip of coffee and said.
“Oh? Mr. Fu is unable to tolerate any longer?” Professor Liang had noticed the problems in Hong Kong’s stock market and felt it would be better to dump their shares when the price is higher. It will be fine if they do it before Soros.
“I am afraid there will be a huge dive if the price increases further. International speculators had entered Hong Kong’s financial market now, and they can cushion the fall.”
Fu Rongqi had been unhappy with these international speculators. Do they dare to create trouble in Hong Kong?! We will trap their money here and make them pay!
“I agree with Mr. Fu. What about the rest?” Professor Liang nodded and looked at the rest of the tycoons.
Li Zekai, who is representing Superman Li, said. “My father says we will follow Uncle Fu and Professor Liang’s lead. Since this is what you all suggested, we will do as you say. But can we don’t dump all our stocks at once to prevent the market from crashing?”
“Of course. We still want to lure those international speculators in. What about the rest? Does anyone object to this decision?” Fu Rongqi looked at the rest.
No one objected, and everyone agreed.
Fu Rongqi nodded. Now, he had become the leader of the Hong Kong tycoons, and it was a terrific feeling!
Don’t think these top tycoons do not have any goals. Even at Fu Rongqi’s age, hee still have a target. Superman Li’s family is not as wealthy as the Fu Family, but he is crowned at Hong Kong’s top richest man, and Fu Rongqi felt sore about this.
The next day, Fu Rongqi and the rest of the tycoons start to sell their Hong Kong shares, and Hong Kong’s Hang Seng index starts to fall.
Feng Yu looked at the market charts and knew Fu Rongqi, and the rest are starting to sell stocks for cash. Are they not willing to wait anymore and want to join the war?
The Hang Seng index had risen to almost 14,000 over the past few days. During this time, when all the other economies in the region are not doing well, Hong Kong really stood out.
This had attracted a lot of ‘Hot money,’ and many investors felt the Hong Kong stock market would not dive anytime soon. They will bet on the index rising further to make some profits.
But to everyone’s surprise, the Hang Seng index started to fall. Until trading close, it did not recover.
……
“Boss, something is wrong with the Hong Kong stock market. We had tried to push Hang Seng index up, but it fell today!” Drucken Miller reported.
“How many points did it fall?”
“56 points. But I feel something is off. At this time, the index should not fall.”
“Your suspicion is correct. We are trying to push up Hong Kong’s stock index, and with so many funds entering Hong Kong, the Hang Seng index should not fall. Is there a large volume of stocks being dump?”
“This is where the problem lies. There are no large scale selling of stocks, but from our calculations, more than 1 billion HKD worth of stocks are sold to make Hang Seng index fall by 56 points.”
“Have you check if any companies are issuing shares to raise money?” Soros asked.
Drucken Miller left, and Soros was deep in thoughts. What went wrong? Has Hong Kong Monetary Authority discovered they are pushing up the Hang Seng index secretly? Drucken Miller is not confident about this, or are these normal fluctuations?
Compared to the Hang Seng index’s 14,000 points, dropping 56 points is normal and should be normal.
Soros is not in a good mood today. It is not because of the Hang Seng index, but because Feng Yu had not fallen for his bait.
Soros had built a large amount worth of future contracts on SGD and thought Feng Yu would follow him. But to his surprise, Feng Yu had only bought some futures contracts and stopped suddenly.
There are many possibilities, like Feng Yu does not have enough funds, he does not think SGD will dive, he is sitting on the fence, he had used his funds to buy future contracts in other countries, etc.
Soros hopes the reason is Feng Yu does not have enough funds, but this possibility is low. Most probably, Feng Yu is sitting on the fence, and Soros is worried that Feng Yu had built portfolios in the other countries in the region.
Attacking the weakest country is the right thing to do. Among the countries in the region, Singapore is not easy to deal with, even after Thai Baht depreciated.
Many speculators are looking at Quantum Funds. When Soros short on a country’s currency, many people will follow.
Soros is like a flag, and any moves he made will cause fluctuations in the market.
After the rest of the countries’ currencies are in chaos, there will be a massive chain reaction, and all their currencies will plummet.
When that happens, Soros will transfer all his funds to attack Singapore.
Soros had thought of tricking Feng Yu to attack Singapore first, but Feng Yu did not take the bait.
Feng Yu is young but very cunning. However, Soros does not believe that Feng Yu is making all the decisions himself, and it must be his team who is giving him advice. Someone in Feng Yu’s team must be an elite, and Feng Yu is only an investor.
Soros had planted a mole in Feng Yu’s team, and the information he got from his undercover was that after the team discussed the strategies, He Zhaoji will report to Feng Yu and Feng Yu will make the decision.
But Soros’s mole is too junior to affect Feng Yu’s decisions. If Soros’s man can use Feng Yu’s funds, it will be great.
Soros can make use of his undercover to scam Feng Yu and let him take the blame for disrupting Southeast Asia’s economies.
Soros did not expect that someone in his team had been bribed by Feng Yu and had been giving Feng Yu insider information!
Translator’s notes:
Hot money
https://en.wikipedia.org/wiki/Hot_money
Hong Kong Monetary Authority