1998, Soros attacked Hong Kong. At that time, the exchange rate of the Hong Kong dollar plummeted and the financial market was in chaos. Later, with the strong support of the central government of Hong Kong, Soros finally came home in a fiasco. Soros despised Hong Kong's financial strength, and in the end this sniper battle lost at least $654.38 billion. Soros lost a bloody battle in Hong Kong, which may be the most failed investment in his life. Now that Soros has retired, he will no longer manage investment and will fully promote charity. In April, 20021,Forbes published the list of the world's richest people, and george soros ranked 288th with a wealth of $8.6 billion.
The process of Soros shorting Hong Kong;
1. The first step is to borrow a lot of Hong Kong dollars at low interest and prepare enough ammunition.
2. The second step was to take the opportunity to sell Hong Kong dollars crazily, which caused the Hang Seng Index to plummet.
3. Step 3: When the Hang Seng Index plummets, close all short contracts of the stock index and run away. In fact, using stock index futures to make a profit requires not only the advantage of capital scale, but also the market to follow suit. Even though Soros made a lot of money by selling stocks at the high point of the Hang Seng Index, it was a small profit for him, and stock index futures were the bright spot.
From June 1998, when Soros sold wildly, the Hong Kong government chose the strategy of suppression. However, since August, Soros has called international speculators to concentrate on selling, and the Hong Kong government immediately entered the market to sweep the goods, eat empty orders and eat the selling of international speculators with all available funds.
The result of shorting Hong Kong: Soros borrowed a lot of Hong Kong dollars in the foreign exchange market at that time. At the same time, he secretly bought Hong Kong stocks through brokers or borrowed constituent stocks from all over the world, secretly opened positions in the stock index futures market and accumulated empty orders. After that, the news was released all the way to raise the stock market and foreign exchange market, waiting for the final fatal blow. Finally, the then Financial Secretary of Hong Kong, Zeng Yinjun, had the right to use the Exchange Fund to intervene in the market and buy a large number of blue chips, and Hong Kong stocks rebounded.
In the next two weeks, Soros and the Hong Kong SAR government will come and go, depending on who has more money. In the end, the SAR government won. It is said that Soros lost $654.38+0 billion. After 2 1 year, Soros made a comeback again. The historical results are strikingly similar. Soros shorted Hong Kong twice, which was a big loss. His plot to attack China will not succeed.