During 1997, the Asian financial crisis swept through Hong Kong, and financial predators made waves in Xiangjiang. 1August 199814th, the Hong Kong Government resolutely entered the market with nearly 100 billion US dollars.

Counter the super short selling of international speculators and defend the wealth and future of 6 million Hong Kong people. From August 14 to August 28, in just 10 trading day, Hong Kong's financial market ushered in an unprecedented but extremely tragic currency war.

The beginning of the financial turmoil in Hong Kong

1July 2, 997, the then Central Bank of Thailand suddenly announced that it would abandon the fixed exchange rate system for many years. As soon as the news came out, the Thai baht plunged 20% against the US dollar that day.

The four-month Thai baht defense failed. However, few people realize that this will be the beginning of a financial storm sweeping across Asia. Even Hong Kong, known as the Asian and even international financial center, has not paid much attention to the situation of the Thai baht.