71: Chapter 71 Emergency Market Intervention

Tianxing Technology Headquarters Building, top-floor trading room.

Over a dozen large screens simultaneously displayed hong kong stocks, Hang Seng Futures, and forex rates, with red and green numbers flashing frantically.

Chen Mo pushed the door open and walked in.

Zhao Yuan looked up and saw Chen Mo, immediately coming forward to greet him, saying:

"President Chen, you're here! Short orders in the hong kong stocks futures market are still increasing; the Japanese are determined to crash the market!"

Chen Mo walked to the large screens, his gaze sweeping across them, and then asked:

"Has the capital from the gold side arrived yet?"

Zhao Yuan:

"It's still in cross-border clearing. The bank channels aren't that fast; the earliest it will all arrive is tomorrow."

Chen Mo's brow twitched. He could have used his hacking skills to transfer it directly, but it wasn't necessary. It wasn't that he lacked funds. If others broke the rules first, that would be one thing, but he wouldn't strike unless provoked.

"It doesn't matter if the gold funds haven't arrived."

"Immediately mobilize Tianxing's own funds. Contact the Central Bank to exchange 15 billion Hong Kong dollars, remit it all into our accounts in Hong Kong, and enter the market immediately!"

Zhao Yuan immediately responded:

"Yes, President Chen. I'll get right on it!"

The Central Bank received the foreign exchange request from Chen Mo. Knowing he was going to support the market, they handled it as a special case and completed it in five minutes!

After the funds arrived, the sound of keyboard clicks instantly filled the trading room as massive sums of money were rapidly transferred.

Chen Mo stared at the hang seng index futures board and then ordered:

"First, in the hong kong stocks futures market, sweep up all call options for the hang seng index. I want both out-of-the-money and in-the-money options. Take as many as the market offers, and crush the pressure from the Japanese short orders!"

"Second, in the spot market, focus on buying up Chinese Banks and heavyweight real estate stocks—HSBC, Cheung Kong, BOC Hong Kong. We'll take whatever they throw at us!"

"Third, immediately contact the CITIC Securities Hong Kong Branch. Have them issue a research report right away to publicly debunk these fake rumors about local debt crises and the collapse of the Hong Kong property market. Stabilize the market sentiment for me!"

"Yes!"

Everyone in the trading room pulled themselves together and executed Chen Mo's orders to the letter.

On the screens, the hang seng index had already fallen to a pathetic state.

When the morning session opened on November 1st, Japanese capital began crashing the market as if they were on drugs.

They frantically sold off heavyweight stocks through QFII channels, with wave after wave of short futures orders crashing down.

Rumors flew everywhere on Bloomberg and Reuters. Retail investors sold in a panic, and the broader market plummeted.

Zhao Yuan kept his eyes on the board:

"President Chen, the Hang Seng has been smashed down to 20,500 points. Any further and it'll break 20,000! The market is about to collapse!"

The screens were a sea of red. Trading volume exploded as panic selling took over.

Chen Mo continued to issue orders:

"Keep taking them. Don't stop. We'll swallow as much as they dump."

Chen Mo watched the various screens, calculating rapidly in his mind.

"The Japanese aren't just shorting hong kong stocks; they're also dumping Hong Kong dollars in the forex market. They want a coordinated attack on the linked exchange rate to wipe everything out in one go."

Zhao Yuan's face changed drastically upon hearing this:

"They're being that ruthless?"

Chen Mo nodded.

"We can't stop their coordination on our own. We've already lost the initiative; we have to ask the National Team to step in."

Chen Mo took out an encrypted phone and dialed the high-level number he had saved earlier.

The call connected, and Chen Mo said in a serious tone:

"Leader, this is Chen Mo. I've detected that Japanese capital, in league with Nomura and Mitsubishi UFJ, is shorting Hang Seng Futures while dumping Hong Kong dollars, intending to strike the Hong Kong linked exchange rate."

"They're using the Federal Reserve's interest rate meeting to create panic, hoping to harvest the hong kong stocks and forex markets. I'm currently conducting market support operations, but I've lost the initiative and need the National Team to intervene."

There was silence on the other end for a few seconds, followed by a steady voice:

"We've noticed the situation. Continue to stabilize the market. The Hong Kong Monetary Authority and the Central Bank will take action immediately."

Chen Mo breathed a sigh of relief:

"Understood, Leader. Rest assured, I will keep the market steady on my end."

"Mm, Chen Mo, you've done well!"

Then, the high-level official hung up.

Putting his phone away, Chen Mo said to Zhao Yuan:

"Wait for it. The National Team is about to make its move."

Not even ten minutes had passed.

The people monitoring the hong kong stocks and forex markets called out:

"President Chen! The Hong Kong Monetary Authority has entered the market!"

"Someone in the forex market is taking in massive amounts of Hong Kong dollar sell orders. The exchange rate has stabilized!"

"The Japanese short orders on the Hong Kong dollar have all been swallowed up!"

On the screens, the Hong Kong dollar exchange rate stabilized instantly.

The selling pressure on hong kong stocks futures slowed down noticeably.

Chen Mo gave a cold laugh:

"These ground rats who only know how to launch sneak attacks!"

At the same time, the Hong Kong branch of Nomura Securities.

Sato Kenichi stared at the market board, which had suddenly stopped falling after the crash, his brow furrowing.

"Baka... who is supporting the market?"

"Why did the Hong Kong dollar suddenly stop falling?"

"The Hang Seng won't drop any further! Our short orders are starting to show floating losses!"

An assistant's voice came from the side:

"Sato-san, someone is taking in massive amounts of call options, and the spot market is being swept up... Also, there's news that the Hong Kong Monetary Authority and the Dragon Country Central Bank have intervened!"

Sato Kenichi:

"Bakayaro!"

He sighed as he stared at the hang seng index, which was starting to tick upward slightly on the screen.

His meticulously planned short-selling sneak attack had been forcibly stopped at the most critical moment.