End of

In October, the opening point of the Hang Seng Index was slightly higher than the closing point at the end of September.

The agent sitting in front of the computer was clearly in an air-conditioned room, but there were beads of sweat on his forehead.

He turned back, glanced at Populus euphratica sitting on the sofa, and whispered: "Thank God, it has finally stopped falling. It looks like it will rebound this month."

Hu Yang said nothing. From his angle, he couldn't see the numbers on the computer screen, but there was a large screen on the wall that allowed him to grasp the changes in the index.

To be honest, I don’t have much research on Hong Kong stocks, and I don’t have much memory in my mind. But the index is different. You don’t need to memorize hundreds or thousands of individual stocks. You only need to know a number.

Half an hour after the market opened, the fluctuations in the index were very small, and there was almost no visible change.

"It's rising... it's rising..."

Half an hour later, the index began to rise slowly, and the broker let out a habitual low cry.

Hu Yang looked at the big screen on the wall. The index kept rising and finally reached the point.

"Huh? Why can't it move sideways? Doesn't it mean the rise is weak?"

When the broker is reading the market, he has a bad habit of talking to himself. But Hu Yang doesn't care. He has seen a lot of traders with more serious problems, and he doesn't have many traders named Yu.

"Listen, open a short position immediately at 15100 points, with a quantity of 26,000 lots."

Hu Yang did not hesitate and issued a trading order at the moment when the index's rise was weak. In other words, Hu Yang was bearish on the market outlook and was also short on the Hang Seng Index.

"ok!"

At this time, the broker showed a high degree of professionalism. He didn't say a word nonsense, and his hands and fingers were flying. Almost as soon as Hu Yang finished speaking, he began to enter the transaction content.

In less than a minute, the order was placed. The index soon turned downward, falling to 15,100 points.

"Okay, please, Mr. Yu, please be more careful lately. If you do well this month, I will definitely show you something."

Hu Yang immediately stood up and left East Asia Securities.

This time, Hu Yang originally planned to convert all US dollars in Huijia's trading account into Hong Kong dollars and then deposit them into the margin account.

But he communicated with East Asia Securities, and the other party promised that financing within 300 million Hong Kong dollars could be provided at any time, but Hu Yang needed to provide guarantee or two-way financing.

Hu Yang calculated that the financing cost of the securities company was similar to the interest rate of ultra-short-term bank loans, so he was too lazy to exchange back and forth and directly lent the US dollars in his hand to East Asia Securities as short-term financing.

After all, the business of East Asia Securities is not limited to Hong Kong stocks. They also have external trading business, which also needs to be settled in US dollars.

There are 26,000 Hang Seng Index futures contracts with a total value of HK$19.63 billion. Based on a 10% margin, this is HK$1.963 billion.

Currently, the self-owned funds in Yang Hu’s margin account are HK$1.939 billion, and the gap is only a mere HK$24 million.

"Fortunately, I borrowed 100 million Hong Kong dollars before. It would be of no use if we raised more money."

The short-term financing cost of 100 million Hong Kong dollars is about 500 Hong Kong dollars, which means a monthly interest rate of 5%. At the same time, East Asia Securities raised US$40 million from Hu Yang, with a monthly interest rate of 3.25%, which means that Hu Yang has an interest income of US$1.3 million a month.

1.3 million U.S. dollars can be exchanged for approximately 10.06 million Hong Kong dollars. So speaking of it, Populus euphratica does not suffer much in terms of interest.

As for the interest difference, there will definitely be one, otherwise how much money would securities companies make, right?

In October, the Hang Seng Index began to fluctuate violently, making people worried that the stock market would have a major crash like the one in the 1980s.

The Hang Seng Index quickly fell below 15,000 points, and then fell below 14,000 points amid everyone's panic.

"Hello, Mr. Hu. Now that the Hang Seng Index continues to fall, some analysts believe that there will be a retaliatory rebound after the index falls below 13,000 points. Do you need to clear your position near 13,000 points?"

The securities broker thought about it for a long time before cautiously calling Hu Yang. In the past few months, he still made operational suggestions to Hu Yang once.

Of course, he also had good intentions. If Hu Yang hadn't made him earn a considerable commission before, he wouldn't be too lazy to meddle in this nosy matter.

"Well, thank you, Mr. Yu. You should continue to wait and see, waiting for my operation instructions."

Hu Yang is confident that the October 1997 Hang Seng Index contract is a very famous classic case in history. He believes that before long, the trend of the Hang Seng Index will definitely refresh the outlook of all investors!

"12,000 points..."

"11,000 points..."

"Oh my God, the Hang Seng Index is about to fall below the 10,000-point mark."

In the days that followed, the trend of the Hang Seng Index in October revealed how many long positions were destroyed. It fell all the way, with almost no decent rebound on the way, and it directly approached the 10,000-point mark.

"Hu...Mr. Hu, do you want to clear your position and sell it now?"

The broker just felt thirsty. He felt that it was almost done at this point, right? If he was greedy again, what if the index started to rebound?

"Well, let's continue to wait and see."

Hu Yang's instructions remained the same, and even his tone did not fluctuate.

The agent's mind began to feel a little numb, and it was difficult for him to understand what Boss Hu was thinking.

The market really "lived up to expectations", with the Hang Seng Index falling below the 10,000-point mark.

There was a wailing in the market, and no one knew how many people were on the verge of collapse at this time.

"Mr. Yu, listen, we will clear the position at 9000. Remember, after completing this order, you must keep your mouth shut and not leak any information related to me. Do you understand? Of course, I will not treat you badly.

Yes, when this matter is over, come and see me."

When the Hang Seng Index fell below 10,000 points, Hu Yang came to Xiangjiang again. During this period, he came when he was building a position, and then stayed in Yangcheng.

Now that he appears in Xiangjiang again, it means that it is time to end.

The Hang Seng Index continued to plummet. Not only did it fall below 10,000 points, but it soon fell below 9,000 points. It fell to 10,000 points before it stopped the decline and started a small rebound. Finally, the Hang Seng Index in October closed at 0,000 points.

The rollercoaster-like market situation has kept countless people awake at night, and many years of investment wealth have been wiped out.

Hu Yang's Hang Seng Index futures contract was completely cleared at 9,000 points, achieving a crucial victory.

Counting from the time when the Hang Seng Index opened a short position at 15,100 points until it was all sold at 9,000 points, Populus euphratica actually made a profit of 6,100 index points.

Each index point is 50 Hong Kong dollars. Hu Yang bought 26,000 index futures contracts, 6100*26000*50 Hong Kong dollars = 7.93 billion Hong Kong dollars.

In the most critical battle in October, Populus euphratica won a resounding victory, making a profit of HK$7.93 billion.

After settlement, Hu Yang paid back HK$100 million from East Asia Securities and HK$5 million in interest. After deducting commissions and handling fees, the final balance of his margin account was HK$9.849 billion.

"Mr. Hu, why don't you keep doing it? What a pity."

Manager Niu personally tried to persuade Populus euphratica to stay, but the other party had already decided to leave, but still failed to keep him.

Hu Yang transferred all the funds back to his bank account, and also recovered US$40 million in US dollar financing provided to East Asia Securities, as well as US$1.3 million in interest income.

Currently, the funds in Huijia Trading’s US dollar account are US$46.3 million, and the funds in the Hong Kong dollar account are HK$9.849 billion.

Without any hesitation, Hu Yang converted almost all Hong Kong dollars into U.S. dollars. The current exchange rate is 7.73, that is, 1 U.S. dollar is exchanged for 7.73 Hong Kong dollars, so the Hong Kong dollars in his hand were exchanged for 1.274 billion U.S. dollars, and the remaining 980,000 Hong Kong dollars were lost to himself.

on the bank card.

Well, the boss also needs to pay wages, and let the accountant do the accounting later.

The total cash in the US dollar account was US$1.3203 billion. It happened that Hu Yang's Japanese yen loan had expired. Hu Yang thought about it and had no intention of extending it, so he started to exchange for Japanese yen again.

The current exchange rate of the Japanese yen to the U.S. dollar is 130. It cost 10,000 U.S. dollars to exchange 5.4 billion yen, and the balance on the account became 1.278 billion U.S. dollars and 761,500 U.S. dollars.

In fact, the Japanese yen has depreciated a lot against the US dollar during this year, and Populus euphratica's exchange surplus still has a surplus after paying off the loan interest.

By borrowing Japanese yen and repaying Japanese yen, Populus euphratica took advantage of the depreciation of the Japanese yen and not only did not pay a penny in interest, but also made a small profit. This loan was really cost-effective.

As for Sumitomo Mitsui Banking Corporation, they have no losses. The loan and interest have been recovered. The exchange rate issue is another matter and has nothing to do with the loan itself.

"Mr. Yu, thank you for your hard work these past few months. Here is a check for 100,000 Hong Kong dollars and a confidentiality agreement. I hope you can keep it secret and consider this money as your reward."

As expected, the agent surnamed Yu came to see Hu Yang. Hu Yang was not stingy and offered 100,000 Hong Kong dollars, but asked the other party to sign a confidentiality agreement.

The agent signed the document with little hesitation and put the check into his pocket.

"Mr. Hu, will you never do it again?"

Before leaving the house, the agent asked reluctantly.

"We won't do it in the short term. As for the future, we will talk about it when the time comes."

Hu Yang smiled, but did not give the other party a positive answer, and then asked Han Wen to send the guest out.

At this point in time, a large amount of arbitrage funds have poured into Hong Kong. Just like this October, the reason why the market of the Hang Seng Index fluctuated so violently is not only the economic situation in Southeast Asia is not very good, but also a large number of foreign investors.

Hedge funds have had an impact on the foreign exchange and stock markets.

"Haha, at this stage, these arbitrage funds are officially the most active and craziest. However, the battle to defend the Hang Seng Index is no joke. By next year at most, everything will be revealed. These arrogant funds are destined to be in Hong Kong.

This place has fallen into disrepair."

At present, the Xiangjiang Financial Management Bureau has not taken action yet. But Hu Yang knows that the authorities will not allow all kinds of funds to wreak havoc in Xiangjiang, and one day they will be taught a profound lesson.

Therefore, Hu Yang decided to stop when the situation was good, and had no intention of repeated arbitrage in the Hang Seng Index futures market.

However, the large amount of funds currently in Huijia Trading's account cannot be transferred directly to the mainland by Populus euphratica. After all, on the surface, Huijia Holdings and Xiangjiang Huijia Trading have nothing to do with each other. To transfer the money, you have to find someone
Chapter completed!