Reborn as a Hong Kong Tycoon

Chapter 343 Blowing the Bears (Part )

38.21 HKD!

As of the close of the stock market, Hutchison Whampoa's stock price closed at HK$38.21, which is quite strong.

During the session, the stock price of Hutchison Whampoa sprinted towards the price of 40 Hong Kong dollars three times, but only the last time it rushed to 40 Hong Kong dollars, and it was quickly suppressed by a large order, and has been fluctuating at the price of 38 Hong Kong dollars since then.

Looking at the closing price of Hutchison Whampoa that day, Henry Cassack and others looked very ugly.

Although the stock price of Hutchison Whampoa is suppressed below 40 Hong Kong dollars, and their sufficient margin can ensure that their positions will not be liquidated, the soaring stock price has far exceeded their cost price, and now their short selling has appeared loss.

This is only now, they sold more than 200 million shares in the intraday to suppress the stock price below 40 Hong Kong dollars, now they only hold 1500 million shares of Hutchison Whampoa, and they have to buy back 5500 million shares to close the short order .

If they choose to buy Hutchison Whampoa stock, it is conceivable that such a large amount of buying will definitely make Hutchison Whampoa's stock price go crazy. If they have funds to speculate, it is not impossible to break through the previous high of 70 Hong Kong dollars.

If this is the case, their loss will be as high as about 20 billion Hong Kong dollars.

Such a huge loss, even if it is shared by multiple British-owned families, the loss of each family is in the unit of million Hong Kong dollars.Especially the four families headed by Henry Cassack, they got the most when they divided the cake, and of course they also lost the most when they shared the losses equally.

Now the stock price of Hutchison Whampoa has risen to the level of nearly 40 Hong Kong dollars. Henry Cassack and others have given up their desire to make money, and even a small loss is acceptable. The stock price and the mentality are completely different.

Previously, the purpose of suppressing the stock price of Hutchison Whampoa was to make money, but now it is to not lose money, or even to lose less money.

Hutchison Whampoa.

Lin Baicheng, who also learned the closing price of Hutchison Whampoa, was very happy. The stock price was close to 40 Hong Kong dollars, and it was obvious that there was a possibility of sprinting to 40 Hong Kong dollars according to the trend in the afternoon. The stock price might reach 40 Hong Kong dollars tomorrow.

"It would be nice if gold could officially rise above $200 an ounce."

Lin Baicheng couldn't help but secretly thought in his heart, in the current situation, the higher the price of gold rises, the faster the stock price of Hutchison Whampoa will surge, and the negative created by the short side will be weaker.

In addition to relying on the rise of international gold prices, Lin Baicheng also needs to prevent the short side from continuing to create negative positions. He does not think that the short side will just surrender.After all, it involves the interests of at least hundreds of millions of Hong Kong dollars. Even if there is only a little possibility of struggling, the short side has no reason to give up.

"Boss Lin, good news!"

After five o'clock in the afternoon, Lin Baicheng was working in the office, and Wei Li came to report the good news to him with a happy face.

"Good news? What good news?"

Seeing Wei Li's happy face, Lin Baicheng thought that it should not be a trivial matter, otherwise Wei Li would not be so happy.

"Good news from London."

Wei Li said happily: "Since nine o'clock in the morning in London time, the international gold price has fluctuated, fluctuating at the price of 200 US dollars per ounce for more than ten minutes. At ten o'clock in the morning in London time, the price of gold has risen to around $203.5, an increase of more than 2% for the day."

The time difference between Hong Kong and London is that Hong Kong time is 7 hours ahead of London time. Now it is : pm Hong Kong time on Monday, so London is : am on Monday.The international gold price started to rise after : a.m. in London time, and it was after : p.m. in Hong Kong at that time, and the stock market had just closed.

"The price of gold has recently adjusted from a high of more than 240 US dollars to a minimum of nearly 190 US dollars, an adjustment of about 50 US dollars, and now it may rebound. If we can set up a big positive line today, then our investment in gold futures is very important. There may be no more losses, and there will be profits in the subsequent rise.”

"This is indeed good news!"

Lin Baicheng couldn't help but smile when he heard this: "Now the market is bullish on our Hutchison Whampoa stock price. Now that the price of gold is rising, the loss range of our investment has narrowed, and even no longer loses. This is right for the market. It’s a big plus, if the stock price doesn’t rise to 40 Hong Kong dollars tomorrow, it’s not justified.”

"Let's see how those bears are still struggling this time!"

Wei Li gloated and said that although he is also British, he has nothing to do with those British-owned families. On the contrary, he has huge interests in Hutchison Whampoa, so the better Hutchison Whampoa is, the better it is for him. Hutchison Whampoa's funds are his enemies.

It’s not just Hutchison Whampoa who are paying attention to the international gold price. Henry Cassack and others who are short sellers also arrange people to pay attention to the trend of gold price in London, so they know when the price of gold breaks through 200 US dollars per ounce, and their mood follows the price of gold. Keep going higher and heavier.

Except for some retail investors, all the big funds who want to invest in the stock of Hutchison Whampoa, or the big funds that already hold the stock of Hutchison Whampoa, are paying attention to the trend of gold price, and everyone knows the trend of gold price. And will continue to pay attention to the follow-up trend of gold price.

After around 05:30, Lin Baicheng received congratulatory calls from Bao Yugang, Guo Henian and others, and they all knew the news of the rising international gold price.

As of 204.7:2.5 p.m. when Lin Baicheng left Hutchison Whampoa, it was : a.m. in London. The international gold price had risen to US dollars per ounce, and the price of gold had risen by more than %.

The next step is to see how the gold price moves in the afternoon of London time and the daytime of New York time, especially in New York. Xiangjiang is 12 hours faster than New York. At nine o'clock in the morning in New York time, it is already nine o'clock in the evening in Xiangjiang.

However, until tomorrow morning, it will be clear whether the price of gold is rising or falling.

That night, many people went to bed late and wanted to know in advance how the international gold price was going.

Although Lin Baicheng didn't go to bed too late, he still knew the exact international gold price as of : p.m. on the Xiangjiang side and : a.m. New York time.

206.63 U.S. dollars per ounce, which is very close to the cost price of Hutchison Whampoa at 206.8 U.S. dollars per ounce. It can already be said that Hutchison Whampoa’s investment will no longer lose money. Lin Baicheng went to bed with a good mood.

Contrary to Lin Baicheng, Henry Cassack and others were in a bad mood. They didn't go to bed at eleven o'clock in the evening, because they still wanted to know whether the price of gold would fall later, otherwise they would not be able to sleep at all.

(End of this chapter)