After entering 1973, the market continued to be crazy, reaching the high point of 1774.96 on March 9 and rising 1. 1 times in three months. In order to cool down the stock market, the government once dispatched firefighters to prohibit investors from buying and selling shares of Chinese banks by fire regulations, which was called "firemen going to the exchange to put out the fire". At the same time, there have been some crazy phenomena in the market, such as "shark fin fishing for rice", investors quitting full-time stock trading, "abalone cooking porridge", "making fish eggs with rat spots" and "lighting a cigarette with Daniel (Hong Kong dollars and 500 yuan paper money)". However, the milk purchase war reached its climax, and Rand took advantage of investors' ignorance of the stock market and announced that he would get five bonus shares for free. At that time, investors didn't have the concept of "ex-rights" and "ex-rights". When the land was ex-rights, the stock price was adjusted to one-sixth, and there were counterfeit Hehe industrial stocks in the market, fearing that the stocks they held would become waste paper, causing market panic. On April 4th, the tax bureau suddenly published the news that "capital gains tax will be levied on the profits from buying and selling stocks" in major newspapers, which made people even more uneasy.

During the period of 1974, there was an oil crisis in the Middle East and a blackout occurred in Hong Kong. Affected by the stock market crash, Hutchison Whampoa fell from the high point of 44 yuan to 1 yuan. 1September, 975, Hutchison International held a general meeting of shareholders. The board of directors asked shareholders to sell shares to alleviate the company's financial crisis, but it was rejected by shareholders represented by HSBC, while creditors demanded liquidation through legal channels. In the absence of alternatives, the board of directors was forced to accept the proposal of HSBC, which invested HK$ 6,543.8+0.5 billion to acquire a 33.65% controlling stake in Hutchison International. HSBC became the major shareholder of Hutchison International, and W. R. A. Wyllie, the "company doctor", was responsible for rectification.

1974,65438+February, 10, the Hang Seng Index fell to 150. 1 1, a decrease of 9 1.54%, only reaching1. However, the high point of 1774.96 will slightly break through in July at 198 17 17, and then it will fall below it until 1986, when Hang Seng Index Futures is merged and launched and foreign securities firms are introduced. Unexpectedly, the stock market crash broke out the following year. Hang Seng Index plunged by 33.33% in June 1987, June 19 and June 26th, reaching 1894, and finally broke through 4,000 points in June 1990 and June 1993.