The second step is to build momentum and take the opportunity to sell the Hong Kong dollar crazily, causing the Hang Seng Index to plummet;
The third step, when the Hang Seng Index
When the number plummeted, all the short contract positions of the stock index were leveled and fled.
In fact, the use of stock index futures empty orders to make profits requires not only the advantage of capital scale, but also the market to follow suit to help rise and rise. Even though Soros ranked high in the Hang Seng Index at that time.
Selling stocks at 8 o'clock also made a lot of money, but it was a small profit for him, and empty stock index futures were the highlight.
1In June 1998, when Soros sold heavily, the Hong Kong government chose the strategy of letting him suppress it, but since August, Soros has called international speculators to start collecting.
When the market was smashed, the Hong Kong government immediately entered the market to sweep the goods, eat empty orders, use all available funds and eat the selling of international speculators.
Battle of the airport:
At that time, Soros borrowed a lot of Hong Kong dollars in the foreign exchange market. At the same time, he secretly bought Hong Kong stocks or borrowed constituent stocks from all over the world through brokers in the stock market, and secretly opened positions in the stock index futures market to accumulate empty orders. After that, he released the news all the way, boosted the stock market and foreign exchange market, and waited for the final "fatal blow". Finally, the then Financial Secretary of Hong Kong, Donald Tsang, used the Exchange Fund to intervene in the market and bought 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, and Soros reportedly lost $654.38 billion. After 2 1 year, Soros made a comeback again, and the result was amazing similarity in history. Soros's shorting Hong Kong twice was a big loss. His plot to attack China will not succeed.