Wang Duoyu and Zhuang Qiang work hard for their future as football players.

Zhang Jin temporarily focused his attention on making money in Hong Kong and pursuing Qiu Ya. Although he used study as an excuse, at least his grades were steadily rising, and others had nothing to say.

Since returning to Xihong City, because there is no Internet in this era, there are basically only two channels for obtaining information, TV and newspapers. As for radio, at least he has not found a radio station that talks about financial trends.

There are very few reports on Soros on TV and newspapers. When the situation in Hong Kong is mentioned occasionally, most of them just mention it. Let alone the details, there is no way to know even the approximate time.

Fortunately, he left Mr. Yin and Mr. Lai's home landline numbers and asked them to report the situation to him every night.

Through the reports reported by the two people, combined with the information he collected in the real world, the entire Soros attack timeline appeared clearly before his eyes.

In October 1997, not long after the National Day, the Soros Quantum Fund launched the first wave of attacks on the Hong Kong market, selling 40 billion Hong Kong dollars crazily. Hong Kong's bank interest rates soared by 300%, the stock market plummeted, and the Hang Seng Index

He quickly fell from a high of more than 13,000 points to 9,000 points, and received a severe blow!

In fact, as early as mid-July, when Soros was wreaking havoc on Southeast Asian countries, he was already making early preparations for the attack on Hong Kong.

The Hong Kong market is a place they will definitely attack, and they have many purposes. Of course, making money is the most important.

Before 1998, the Hong Kong government did not care about the foreign exchange and stock markets, only interest rates. As one of the Four Asian Tigers, Hong Kong's economy was very large and basically belonged to a semi-free market. It was one of the favorite hunting grounds of financial capital.

When international speculators attack, they will borrow currencies from this region in advance to accumulate chips.

Soros used the three-month Hong Kong dollar futures contract to buy the Hong Kong dollar and then quickly shorted it in late October, making huge profits!

However, the then Director of the Hong Kong Monetary Authority, Yam, used the method of raising interbank lending rates to increase the costs of international speculators, making them unprofitable or low-profit, in order to dissuade the other party from attacking.

At that time, the Hong Kong dollar implemented a linked exchange rate system, which had an automatic adjustment mechanism and was not easy to break. However, one disadvantage was that the interest rates of the Hong Kong dollar were prone to rising sharply, and rising interest rates would cause the stock market, bond market, and property market to plummet.

So Soros took the opportunity to short the Hang Seng Index futures while borrowing Hong Kong dollars, so no matter what, he was a sure winner!

Therefore, between August 1997 and July 1998, Soros attacked Hong Kong three times and achieved brilliant results. The Hang Seng Index fell from 16,700 points to 8,000 points, and he was half of the credit.

The other half was caused by the generally poor economic environment in Asia at that time, and this poor environment happened to be caused by Soros.
Chapter completed!