Chapter 314 The "Miracle" of the Han River

  There are many investment tools in the Hong Kong stock market. In addition to the most common Hong Kong stock spot, there are also turbo, index options, and futures. In addition to the most common Hang Seng Index, there are others such as red chip index, blue chip index, state-owned enterprise stock index and so on. In addition to using own funds, the way of investment can also be through margin (margin), if the credit limit is sufficient.

  But for the analysts of Tianyu Fund, most of them still choose the tool of HSI futures.

  The reason is that the leverage of stock index futures is neither too big nor too small, and is maintained at about ten times. More importantly, the income is the most reliable among various tools, and each index is worth 50 Hong Kong dollars.

  As for other investment tools, some people naturally use them, and some people even set up a special investment portfolio, buy various possibilities according to their own analysis, and then adjust the weight share accordingly according to the daily market changes.

   It's just that after hearing Zhong Shi's question, the researchers fell into silence for an instant. They looked at each other, but no one spoke for a long time. Among them, the more thoughtful people are thinking about whether to close part of their positions.

   "Why? Is this difficult to answer?" Seeing the silence of the audience, Zhong Shi's face was a little uneasy. After finally having a chance to "have fun with the people", who knew that this group of people would be so shameless.

  A bold person among the researchers said: "Zhong Sheng, why don't you tell us about your earnings so that we can compare them."

As soon as this was said, there was a burst of enthusiastic cheers and laughter among the researchers, with whistles mixed in between. Obviously, the researchers were very interested in the returns of this god-respected investment myth during this period .

  Zhong Shi tilted his head and thought for a while, then nodded, pointed at the researcher who spoke just now, and said with a straight face, "Well, I remember you."

The researcher pointed at by him shrank his head and wanted to sneak into the crowd, but unfortunately, the people around him immediately drew a clear line from him, avoiding him like a snake and scorpion, leaving him standing alone in the middle of the field , It was embarrassing for a while.

"I have used a total of about 500 million funds, the total income is about 2 billion, and the yield is about 400%, all of which are invested in the Hang Seng Index futures." Zhong Shi's words immediately aroused amazement, but what he said afterwards was even worse. The researchers were envious, "I have closed all positions, and I am safe. Well, now I can talk about your situation!"

Although the figure of 2 billion Hong Kong dollars is astonishing, compared with the starting capital, this rate of return is not too much. What makes the researchers most envious is that these funds have changed from floating profits to real money. This means that there is no risk at all.

  Seeing the sighs and emotions below, but still no one made a sound, Zhong Shi frowned, and asked again: "This rate of return should not be too high. Is there no one higher than this?"

   After half a day, a weak voice said: "My rate of return should be higher than yours..."

Everyone was amazed at once, and looked towards the place where the sound came out, and found that the person who spoke was a young man wearing thick glasses. This person was a macro analyst in the Asia-Pacific group. His name was Li Xiangfu, and his English name was Matthew. He doesn't talk much and has a slightly shy personality, but his analytical skills are top-notch.

After seeing everyone's eyes on him, Li Xiangfu's face slowly turned red, and he became unnatural, with his hands crossed and twisted together, and his eyes kept glancing around, obviously very uncomfortable This kind of occasion becomes the focus of everyone's attention.

   "Matthew, tell me about your situation." Zhong Shi didn't care much about his slightly stage-frightened performance. You must know that many geniuses have social barriers, and Li Xiangfu's performance is already very good.

Hearing Zhong Shi's words, Li Xiangfu settled down, tilted his head and counted his fingers, and then said in a low voice: "My rate of return is about 800%, so naturally there is no way to compare with big funds in terms of income. "

  As soon as this number was said, the jaws of the researchers present all dropped in shock. Zhong Shi's data is already very scary, who would have thought that there would be an even more astonishing one. It seems that there are hidden dragons and crouching tigers inside the Tianyu Fund, and it is unpredictable.

"My main target of investment is the short-selling warrants of HSBC Holdings. From October to now, the stock price of HSBC Holdings has fallen by more than 45%. At the beginning, I bought put warrants one after another, and after the announcement of the loss of the NT dollar, I increased my position again, and then the sharp drop in the two stock market crashes made me make a lot of money with these put warrants.” When it comes to professional aspects Li Xiangfu became normal and talked about his short-selling process endlessly.

  HSBC Holdings is the largest market capitalization stock in Hong Kong stocks, and it is also a heavyweight stock among heavyweight stocks. If you want to short the Hang Seng Index, the stocks of companies such as HSBC Holdings and Changhe Industrial are definitely the focus of selling.

   And Li Xiangfu just seized this opportunity and shorted HSBC Holdings. If he has enough funds, he can even borrow HSBC shares through margin financing, and then sell them to buy them. In this way, although the rate of return may not be too high, the number of profits may be even higher. as amazing.

  After listening to Li Xiangfu's words, everyone was envious again. However, most of them have gained a lot during this decline, so at most they are just envious and don't have too many ideas.

"Okay!" Seeing that the time was almost up, Zhong Shi said, "This time the Hong Kong stock market's decline is probably coming to an end, and anyone who has not closed their positions should close it as soon as possible. After that, we will get busy. The next wave of currency storms It will come at any time, and you have to be ready as soon as possible.”

  When everyone heard this, they all showed solemn expressions on their faces, and no one questioned Zhong Shi's opinion. In fact, since the depreciation of the New Taiwan dollar, there has been a saying in Tianyu Fund that the currency crisis is far from over, and this statement has become a reality immediately after the attack on the Hong Kong dollar.

  Although the HKMA has declared that the attack on the Hong Kong dollar is over, what about other currencies? No one knows who the next target is, except for the international hot money who launched the attack.

  …

  In Seoul, South Korea, at the headquarters in Jung-gu, the Bank of Korea is holding a grand financial meeting for October.

  The Bank of Korea is the central bank of South Korea, established in 1950. Since the outbreak of the currency crisis in Thailand, the senior management of the Bank of Korea has always been monitoring the abnormal situation in the market.

  In late October, the currency crisis broke out in Hong Kong, dragging down the currencies of the entire Asian region. The Korean won fell from the previous exchange rate of 900 won to 1 dollar to the current 929.40 won to 1 dollar, a drop of 3.3%.

  In addition, the South Korean stock market is also sluggish. Since October 25, the Korean Composite Stock Index has continued to fall, and even fell to a five-year low of 548.47 points, a drop of up to 3.9%. The sentiment in the market is that local investors are selling Korean stocks out of fear that foreign investors will continue to sell Korean stocks. Analysts generally believe that foreign investors are bearish on South Korea's financial markets due to the weaker Korean won.

  In addition to fluctuations in the capital market, Korean domestic companies are also facing trouble. The Korea Development Bank took Kia Motors, one of South Korea's largest conglomerates, and its sister company Asia Motors to court a few days ago, ordering the financially troubled groups to take over. The Kia Group did not show any weakness, claiming that it would not take over the takeover plan.

  Other consortiums such as Pohang Iron and Steel and Korea Electric Power Co., Ltd. were asked by the Korean Finance and Economics Agency to repurchase their company shares in order to stabilize the now weak stock market. The two companies will each be required to buy back $109 million worth of company shares within a month.

   Today, on October 28, after the market rumored that the Swiss Central Bank sold 1,400 tons of gold, the entire global market was shaken. The Korean market was no exception and continued to maintain a downward trend. The Korea Composite Stock Index fell to 530.47 points, down 18 points, or 3.3%, hitting a new low since 1992, with chip makers and oil refiners falling particularly hard. The Korean won reported a new low of 940.10 during the Asian session.

   What is even more tragic is that Standard & Poor's downgraded the credit rating of Korean companies from AA- to A+, which means that the cost of financing for Korean companies from overseas has increased, and it has also aggravated the decline in the stock market.

  Due to the above reasons, the demand for US dollars in the Korean market has increased rapidly. At this time, although South Korea has not yet reached the point of precariousness, it has been severely scratched by the currency storm.

"Gentlemen, if you have any opinions on the current market views, feel free to express them." Park Hee-rae, president of the Bank of Korea, sat on the middle seat with a low tone and a solemn expression. It felt like I was at a memorial service.

   Korean society, like Japanese society, is a society where men are superior to women and women are inferior. Juniors need to use honorifics when speaking to seniors, and meaningless modal particles like "Smecta" are frequently used, so that later they directly use "Smecta" to refer to Koreans.

  However, the distinction between juniors and seniors is extremely vague, and sometimes it’s not just about age. In this huge office, on the long marble desk in the middle, there are dozens of pots of hibiscus flowers in full bloom. Behind these delicate flowers, there are old faces with white hair and chicken skin. These old guys are members of the Financial Currency Operation Committee, all of them are older than Park Hee Lai, but Park Hee Lai is the one with the highest position, so when facing these old guys, apart from the words on the scene, other times they say something No honorifics are added.

   Except for the supervisors of the Bank Supervision Institute, these old guys in high positions are completely a group of characters waiting to die. Because not long ago, the Bank of Korea was completely subordinate to the Institute of Finance and Economics, and the president was concurrently held by the director of the Institute of Finance and Economics. Although the independence has increased now, Park Hee-rae came to power early, and his foundation is superficial. Basically, there are not many cronies available. You can only deal with these old guys from the nominal highest institution, the Financial Currency Operations Committee.

   "Any comments?"

An old man who seemed to be ninety years old suddenly slapped the table, and said in a low voice: "The miracle of the Han River was created by us, and now it's time for you to continue to create it. I don't have any opinions. Look at the final result."

  The speaker is called Kim Joong Nam, the former vice president of the Korea Finance and Economics Institute, who was placed here by Park Hee Rae's predecessor, basically as a restraining role.

It is ridiculous to say that this old Mr. Kim Chung Nam is simply a typical example of ignorance. He only knows about intrigue all day long, and he knows almost nothing about finance, economics, finance, etc. He only mentioned this position by flattering the current President Kim Dae Jung. up. Therefore, when Park Hee-rae asked these old guys to talk about their views on the market, Kim Joong-nam was the first to strike out, cleaning up his ignorance and unwillingness to take responsibility.

  The so-called "Miracle of the Han River" refers to the economic take-off of South Korea since 1953. Because the Germans called the recovery of the German economy after World War II the "Miracle of the Rhine River", the Koreans followed suit and copied it.

  As soon as Park Hee Lai took the lead in making noise after hearing this hometown, he couldn't help but lamented, and said silently in his heart: Xiba (a Korean swear word), this **** is doing this again, a **** who relies on the old to sell the old, why isn't he dead now!

   Soon, these old fellows followed behind Jin Zhongnan, and one by one began to clean themselves up, saying some high-sounding but useless words.

   Thank you book friend Shihuangtian for voting again!

  

  

  (end of this chapter)