Hong Kong 1980: The Savage Era

Chapter 250 [Appreciation and Depreciation]

A hotel in Causeway Bay
Led by the waiter, Luo Qihong, Lin Luoqi and Li Yude came to private room 304.

"Please serve all your signature dishes." Lin Luoqi just sat down, glanced at the menu on the table, and instructed the waiter lightly.

The waiter had a keen eye. The clothes worn by the three people showed their extraordinary status. Seeing that the other two had no objection, he said yes and took the menu back.

"Isn't there something strange about the last Central Yunshan Building?" Li Yude asked seriously.

Lin Luoqi smiled slightly. "It seems abnormal, but in fact, such unofficial auctions often do this kind of thing, but there are fewer unofficial auctions. Judging from the situation, it should be a large company like Cheung Kong Group and HSBC Bank that did it."

"Isn't this a bit too much? Do you think we can't afford Yunshan Building?" Li Yude suddenly became stubborn and didn't want to compromise. He must be very fond of Yunshan Building.

Lin Luoqi laughed and said, "Uncle Li, those people have always done things this way. It has nothing to do with whether they have money or can afford it. It involves some transactions or favors between each other."

"What surprised me was that they didn't even inform Ah Hong. Logically, Zhaoan Real Estate Company should have caught their eye."

The topic began to shift to Luo Qihong, and Li Yude also glanced at Luo Qihong, as if asking him if he had received the news.

Luo Qihong said helplessly, "The market value of Zhaoan Real Estate Company has fallen below the high of 10 billion yuan. Naturally, they will not include me in the list. Otherwise, I would not bid at the lowest price."

Li Yude laughed at himself and said, "We are still too weak. All the good things have been given to big companies, and we have even less room for development."

Luo Qihong thought, 'There is no fairness in a capitalist society. The big only eat the small.'

This also reminded Luo Qihong of the Golden Gate Building. If Zhaoan Real Estate Company could acquire this Grade A commercial building in Central, it would definitely be a large real estate company.

Unfortunately, judging from the current situation, the Golden Gate Building will definitely attract competition from all parties, and the price will not be low, at least 4 million Hong Kong dollars.

This price is enough for him to buy a Huaguang Real Estate Company.

Expelling those unrealistic thoughts from his head, Luo Qihong returned to the reality in front of him and said, "There are many properties on the market in Hong Kong. If you pay attention, there will still be a whole commercial building in Central for sale."

"The market has been plummeting for a year. When will it end?" Lin Luoqi sighed.

In fact, he wanted to buy at the bottom. With so many high-quality properties right in front of him, which rich person would not have ideas, except for those who were determined to immigrate.

Luo Qihong took a sip of red wine and said, "Have you converted all your funds into foreign currency? The market is very tense."

Speaking of this, Lin Luoqi and Li Yude couldn't help but frown and look unusual.

"Most of my family funds and company funds are in the Japanese market, so I'm not in a hurry to exchange them at this time," Li Yude replied.

Hearing this, Lin Luoqi's mood became even worse. "I want to change, but the current exchange rate is too low. It's almost depreciated by 60%. I can't accept a 60% loss."

Today, the exchange rate between the Hong Kong dollar and the US dollar in the Hong Kong market is close to 1 to 8, and in the black market it has even exceeded 8.4.

The foreign currency exchange quota provided by banks every day is limited, which is not enough for ordinary citizens to exchange, let alone supply enterprises.

This is a special period. Once the exchange quota is reduced, it will cause greater panic, so banks dare not operate behind the scenes. After all, the consequences caused are not something that certain officials can bear, and they need to be held accountable.

Luo Qihong had a slight smile on his lips. He was indeed at a disadvantage if he exchanged the currency now, but the situation was very scary. There was a high possibility that the Hong Kong dollar would collapse. If it weren't for the blessing of his past life memories, he was worried that the Hong Kong dollar would not be able to hold up. "Now we can only wait for the Hong Kong government to take action. We can't do anything." Luo Qihong said calmly.

Then the waiter opened the door and came in with the dishes.

Lin Luoqi did not stop and continued, "If we transfer the investment to Japan, we will also have to bear the current exchange losses. Ah Hong, how long do you think it will take to make back this part of the loss?"

The topic finally got to the point.

Luo Qihong thought for a while and replied, "Maybe it will take 4 to 6 months."

"Does real estate also require this much time?" Lin Luoqi asked.

Luo Qihong smiled and said, "This is calculated based on the current average growth of the stock market. Real estate may take longer. One year is too short."

Lin Luoqi fell silent. His team judged that the exchange rate incident would soon subside and the real estate recovery would take longer, but not necessarily a year, so it did not seem to be a good idea to go in and out like this.

Li Yude asked, "What is Luo Sheng going to do? Will he continue to increase investment in the Japanese market?"

Luo Qihong shook his head. "I don't have such plans for the time being. Japan's xenophobia is more serious than Hong Kong's. I have already opened a path in Japan. I can't expand too quickly, otherwise I will be easily sniped."

"In the past few years, compatriots from Southeast Asia came to Hong Kong to invest and encountered different degrees of sniping. The Japanese market is even more serious than this. If I hadn't invested money, I'm afraid I wouldn't have been able to open up this road."

Investing too much can easily lead to backlash, so it is better to boil the frog in warm water.

At the same time, Luo Qihong wants to attract more people to the Japanese market so as to disperse the pressure.

It is obvious that Li Yude and Lin Luoqi are full of concerns and only want to make money without taking risks.

"You can go back and discuss it. There is no rush for this matter." Luo Qihong gave both parties a way out.

"Mr. Luo, which real estate market do you think is better, Japan's or Hong Kong's?" Li Yude was still a little anxious.

Luo Qihong's investments have not had any failures so far. Li Yude believes that Luo Qihong must be confident enough to invest so large.

He couldn't judge by himself, but there was a strong man leading the way, so Li Yude was naturally tempted. After all, opportunities are not always available.

Luo Qihong smiled and said, "Compared with Hong Kong from 78 to 81, Japan's real estate market performance is still a little worse, but Japan's currency has been appreciating. This is a great opportunity to earn currency price differences. I think this can make up for the difference."

Lin Luoqi and Li Yude had different thoughts, but what Luo Qihong said made sense and was based on analysis of facts.

"Can the appreciation of the Japanese yen make up for the current depreciation of the Hong Kong dollar?" asked Lai Yuk-tak.

Luo Qihong is engaged in securities and stock investments, so he naturally has some analysis and judgment on these.

"It will take some time." Luo Qihong answered vaguely. No one could make an accurate prediction, not even the state agencies.

(End of this chapter)