Chapter 1446: The beginning of the decisive battle between bulls and bears!
Monday's trading volume was only 87 million Hong Kong dollars, so not only did ordinary investors fail to flee, even the short sellers were unable to cash out and leave the market.
However, the stocks that the short sellers still held in their hands were either those that they had previously failed to cash out, or were stocks that were originally intended to be used to crash the market.
At this point, even if they didn't crash the market, the market would have already collapsed due to other investors. This was a good thing for the short sellers.
They couldn't escape from the higher positions anyway, and the bulls had not yet begun to prop up the market.
No matter how hard other investors sold their stocks, they couldn't sell them, so it was completely useless.
How could the short sellers have any complaints?
They might as well seize these few days to gather their strength and wait for the real battle to begin.
...
The next few days.
The public opinion battle had long since expanded beyond Hong Kong and Asia.
What happened in Hong Kong involved two of the five permanent members of the UN Security Council, and Hong Kong has become a key node in the world financial system.
A drastic change in its financial market is bound to attract attention. Fortunately, the mainland is very strong and determined in this matter, while the UK is internally divided over the issue, with supporters and opponents reaching a stalemate.
The media's exposure of the huge internal divisions in the UK over Hong Kong's future undoubtedly calmed many people down.
Many capital that was preparing to temporarily withdraw from Hong Kong also stopped moving and temporarily maintained a wait-and-see attitude.
What's more, many financial institutions took a big step and directly adjusted their strategies, believing that Hong Kong would overcome the crisis and planning to tentatively buy the bottom.
After all, after several days of plummeting,
the Hang Seng Index had fallen to 2259.4 points, and the total market value of Hong Kong stocks had fallen to 996.1 billion Hong Kong dollars, falling below 1 trillion Hong Kong dollars!
For short sellers, if they enter the market now to buy the bottom, they will probably only need to spend about half of the cash they have on hand, and the remaining half will be profit!
But!
Capital is always greedy.
Seeing that the bulls have not yet taken over the market on a large scale, and are still holding a large amount of funds, the shorts are reluctant to start reaping the profits just yet.
They must get as much of the funds in the hands of the bulls as possible, and make as much profit as they can!
Xia Yu, on the other hand, had also set his sights on the stocks that the shorts still held and had not yet cashed out!
Following Xia Yu's order,
many of the financial institutions under his control began to buy the bottom!
Countless sell orders, like rotten cabbages, began to be matched with buy orders one by one at the corresponding prices.
More and more investors were pleasantly surprised to find that they had finally cashed out and left the market.
The sounds of surprise and cheers of escape began to ring out in the Hong Kong Stock Exchange.
The trading volume, which had been quiet for a few days, began to rise, immediately attracting the attention of the institutions monitoring the market.
The short sellers passed on the news to each other as soon as possible.
...
'Evelyn, you've heard the news, haven't you?'
Early in the morning London time, Terence Woburg arrived at Evelyn Lochiel's private villa and met the latter, who had just finished breakfast, and said cheerfully.
'Of course, I just got the call.'
'Would you like a cup of coffee?'
Evelyn Lochiel nodded with a smile and then asked.
'No, just a glass of water for me,'
said Terence Warburg, and without waiting for Evelyn Locher to say anything, the maid in the living room immediately went to get the water.
'Evelyn, the bulls have started to bottom out, and it's time to move on to the next stage of our plan,'
'It's just a pity that the bulls were able to hold back until now,'
'We were almost unable to hold back!'
said Terence Warburg with some regret.
The market has fallen so far that the total market value of Hong Kong stocks has evaporated by half, and correspondingly, the stock prices in the stock market have also plummeted.
Now the bulls are starting to buy the dips, and the cost is much lower.
'It is indeed a pity.'
'But there is nothing we can do about it. The market has been falling, which is already to our advantage. We could not take the initiative to buy the dips before the bulls did.'
'But it's not bad when it comes to it.'
'The Hang Seng Index is still above 2,000 points, and there is still some room for the market to fall,'
Evelyn Lochhead smiled helplessly.
'Indeed, in terms of buying the dip, the initiative is in the hands of the bulls. If the bulls buy the dip at this time, their bottom line will be exposed.'
'But Evelyn, before I came here, I thought about it. Can we just let the bulls sweep the goods so easily?'
As soon as Terence Warburg finished speaking, Evelyn Lochhead raised an eyebrow, looked at the former with interest, and asked, 'What do you think?'
Terence Warburg immediately spoke his mind: 'In order to increase the success rate of crashing the market later, we need to exhaust as much of the long positions' funds as possible now, while also destroying the last bit of hope in the minds of other investors.'
'Therefore, I think we can use public opinion to moderately boost investor confidence, allowing Hong Kong stocks to moderately recover, increasing the acquisition costs for the long positions. We can also appropriately sell off some more stocks at relatively high prices.'
'Of course!'
'Once we detect a decline in the bulls' buying strength, we will immediately cease our actions and let the bulls continue to buy.'
'When the time is ripe, we will immediately start to crash the market.'
'By then, investors who have just regained some confidence will have their faith collapse again, and their last shreds of hope will be crushed. These investors will definitely sell their stocks in a panic.'
'Combining this situation, we can crush the bulls at once and drive Hong Kong stocks to the lowest ebb!'
Evelyn Rothschild's mouth curled up and she laughed: 'Terence, your thoughts are the same as mine.'
'In the previous plunge, the daily trading volume simply couldn't rise. Maybe this time will be our last chance to cash out at a relatively high price.'
'Later, we will explain it clearly to the others together, and I believe they will support us.'
'...'
...
The bears reached a consensus, and the result was that early Friday morning Hong Kong time, the opinions of many newspapers that had previously been strongly bearish on Hong Kong stocks became conservative and moderate. They began discussing the possibility that Hong Kong stocks had already hit bottom. The impact of the outcome of the discussions between China and the UK on Hong Kong stocks had already played out in advance.
The change in public opinion brought about a change in Hong Kong stocks, and that was that after the opening on Friday, many stocks began to enter a period of volatility, and trading volume rebounded further.
Some stocks even saw a slight recovery in share price because there were more investors buying them.
Seeing this situation, Yuan Tianfan told the traders to continue with the buying plan while reporting the unusual situation to Xia Yu.
Xia Yu's attitude towards this situation was clear: as long as the increase did not exceed five points, continue buying.
Once a stock's increase exceeded five points, immediately give up buying and switch to other targets.
Xia Yu wanted to buy as many short and investor stocks as possible, but he would never be a sucker!
Six or seven hours passed in a flash.
With the closing of the Hong Kong Stock Exchange, the stock market officially came to a close for the week.
On this day, the trading volume of the stock market reached a record high of 42.75 billion Hong Kong dollars, which was twice the peak trading volume of the day before the stock market crash!
It was also 491 times the daily trading volume on Monday of this week!
Add to that the trading volume of 10.28 billion Hong Kong dollars on Thursday.
The average daily trading volume for the five working days of this week reached an astonishing 10.6 billion Hong Kong dollars!
Even if the Hong Kong Stock Exchange tried to cover it up and not release the figures, they were still guessed by many institutions to be correct.
As a result, on Saturday and Sunday, public opinion exploded again, and many investors abandoned the idea of clearing their positions and leaving the market.
This kind of attention made the bears a little worried, and they realised that they could not let up.
So they waited until the following Monday.
The bearish public opinion offensive became even more intense, and some newspapers even called last Friday's trading a 'last gasp' and a 'last struggle'.
It seemed as if these newspapers were right.
As the stock market officially opened,
the many short sellers who had been waiting in the wings all pounced at once, flooding the market with sell orders, each one larger than the last.
This onslaught instantly scared the investors in the exchange who had been chatting and laughing!
But! This kind of onslaught could not scare Xia Yu and his disciples, who had been prepared for a long time.
Jiuding Securities, Jiuding Insurance, the securities investment department of HSBC, Sun Hung Kai Securities and many other institutions, which had received unified instructions long ago, all moved large sums of money into the market.
The short-term and long-term battles erupted into a full-scale decisive battle!