Many countries in Asia have soft economies and high exchange rates (such as Thailand), all of which are international speculators headed by Soros.

Provides a good hunting opportunity.

First of all, the quantum fund led by Soros sold a lot of Thai baht from Thailand, forcing Thailand to abandon its fixed exchange rate linked to the US dollar and float freely, which triggered an unprecedented crisis in Thailand's financial market and spread to all countries and regions with freely convertible currencies in Southeast Asia, making the Hong Kong dollar the most expensive currency in Asia.

After that, Quantum Fund and Tiger Fund began to speculate in Hong Kong dollars. At first, they borrowed a lot of Hong Kong dollars from banks and sold them in the market, in exchange for US dollar loans to earn interest, and at the same time, they sold a lot of Hong Kong stock futures, thus making profits in the futures market. At the same time, once the Hong Kong dollar falls, they can also make profits in the foreign exchange market, killing two birds with one stone.

The government's countermeasures:

Interest rates have risen sharply, and a large amount of foreign exchange reserves have been used to buy Hong Kong stocks, amounting to nearly 654.38+020 billion Hong Kong dollars (about 654.38+05 billion US dollars).

Results:

Speculators were forced to close their positions at a high price on the futures settlement date on August 28, and suffered serious losses. Coupled with setbacks in Russia and Malaysia at the same time, the speculators finally withdrew.

Postscript: Hong Kong stocks purchased by the Hong Kong Government will be listed on TraHK and sold back to the market in batches.

In addition, "the central government allocates funds for Hong Kong to rescue the market" is just a joke.