Inside the headquarters of Quantum Fund in New York of the United States, Soros frowned as favonovel.com looked at the busy team. His good mood from before was gone. Even though favonovel.com knew that the Somerland government’s countermeasures would inevitably come, favonovel.com did not expect the Somerland government to stab favonovel.com in the heart from such a strange angle at this critical moment.
“This definitely looks like something Jasper would do. It was done beautifully while being impactful and straight to the point.”
Rogers’ voice from the side caused Soros to turn his head. Then, favonovel.com said, “What do you think we should do now?”
“We can’t stop the attack on the Haddock Chamber of Commerce, and we must instead intensify it.”
Rogers contemplated for a while and said, “Actually, everyone including you and Jasper overlooked a very important issue.”
“Yes, the listing of these state-owned enterprises will bring in a lot of private capital, some even foreign, into the Somerland A-share market to buy the stocks of these state-owned enterprises, but this will produce a siphonic effect.”
“These state-owned enterprises are the core of absorbing capital. They absorb not only external funds but also funds in the stocks of other companies in the original A-share market. The other companies are worried that there is no place for them to hedge, but when these state-owned enterprises enter the market, they will inevitably sell their stocks and buy the stocks of state-owned enterprises. Such is the nature of the capitalists. Neither the Somerland govermnent nor Jasper can change this.”
“Under such circumstances, the A-share market seems to have stabilized, but in reality, most of the funds have been sucked away by state-owned enterprises while the remaining company stocks will be faced with difficulties.”
“This is the chance for us to completely destroy the Haddock Chamber of Commerce.”
Soros frowned and said, “If that’s the case, we’ll have to burn the funds we used to short the market.”
“It’s inevitable.”
Rogers patted Soros on the shoulder and said, “There are indeed winners in the capital market, but there can be no gods who will always win without losing money. At this point, me and you, as well as our investors, will agree with this.”
Soros nodded slowly and said, “Yes, what you said is right… Then we will increase our efforts to crush the Haddock Chamber of Commerce.”
At this moment, the press conference was closed in a flash while the call auction stage had also officially ended.
In the futures market, the tug of war over foodstuffs continued. While the two sides were still transacting at a rate of 100 million Somer Dollars per minute, the A-share market had already set off a huge ripple.
Huge amounts of funds poured in from the outside, including domestic funds and foreign hot money. Meanwhile, hot money began pouring into the A-share market like sharks smelling blood. Their goal was unified, and they were targeting this batch of state-owned enterprises that had just gone public.
Led by the two major oil companies and supplemented by the communications industry, the share prices of these state-owned enterprises soared, leading an upward trend of their respective sectors and the overall market.
“After 10 minutes of opening, A-shares opened at 2434 points. It has opened higher and is moving gradually upward. Currently, it is at 2499 points and is hitting the 2500 key point. It should not be very difficult to break through this point. Among them, newly listed state-owned enterprises have reached their daily limit as soon as trading commenced. At present, there is still a huge influx of funds, while it has risen to the limit, the quotations are still going up.”
Baz suppressed his excitement and said, “Judging from this situation, it is not a problem for these state-owned enterprises to create more than 15 daily limits for the market.”
“Due to the good news gained from the listing of these state-owned enterprises, the share prices of the sub-sectors of the relevant upstream and downstream industry chains are also rising and the market is improving!”
The moment Baz finished saying that, the A-share market officially broke through the 2500 point mark and surpassed 10 points in one breath. The offensive began to slow down near 2510, but it was still rising.
“Very good.”
Jasper breathed a sigh of relief and said, “We made the right choice by betting on this.”
The sentiment in the market was more enthusiastic than Jasper imagined. These state-owned enterprises closed their daily limit within a few minutes of listing, bringing nearly tens of billions of funds to the entire A-share market. Meanwhile, this inflow was still increasing.
This hot money had not only revived the A-share market but had also dissipated a lot of the pessimism in the market due to the recent attacks of Quantum Fund.
Over the next two hours, the market reached a few essential small points of 2550 and 2590 points from an initial 2510 points. However, when it was about to hit a high of 2600 points, an accident happened.
The three major sectors of tea, wood, and textiles suddenly encountered an unprecedented fierce attack. Almost all of the stock prices in the listed companies in this sector plummeted and began to plunge rapidly. Even the textile industry that Jasper had been supporting before was beaten black and blue when faced with a large number of empty orders. The scene was extremely tragic.
The direct chain reaction was that the entire upstream and downstream industrial chain had been affected, and the clothing, cloth, furniture, and beverage markets were all in a state of emergency.
With that, a marvel appeared in the A-share market.
On the one hand, there was a sharp rise in energy and communications sectors, while on the other, there was a sharp drop in the light industries like textile and wood.
The sharp contrast brought about the exponential surge in trading volume and the violent fluctuation of the support points in the market.
At this time, Jasper also realized the key issue that Rogers had earlier spotted.
The siphon effect brought about by the listing of state-owned enterprises had begun to take effect. Almost all of the hot money in the market had been absorbed by these state-owned enterprises, and the cost for the related sector’s increase was the sharp drop in the light industries where the Haddock Chamber of Commerce was located.
Because the hot money was all sucked away, market capital began to pursue the sector where state-owned enterprises were located, such that it had become extremely difficult for Jasper to protect the market.
“Mr. Laine, do you want to step in?” Baz asked hurriedly.
Jasper pursed his lips and said nothing. He was thinking…
At this time, Celine had gotten up to stand next to favonovel.com unbeknownst to him.
Baz was extremely anxious, but favonovel.com did not dare to interrupt.
It was Celine who gently put favonovel.com hand on Jasper’s shoulder and said, “You are not a god and it is impossible for you to be perfect. The most sensible thing to do at this time is to give up. The A-share market has a limit for its fluctuations. At most, there will be a 10% drop in a trading day, so let’s bear it for now.”
Jasper frowned. He knew what Celine said was correct, but…
After letting out a sigh, Jasper said to Baz, “Let’s give up…”
Baz also let out a sigh. It was unknown whether favonovel.com did so because favonovel.com was glad or disappointed. Then, favonovel.com turned around and went out.
Just as Baz was about to leave the room, someone came in from outside.
