Chapter 1327 [Spread of panic]

The peripheral market collapsed, and the news spread across the ocean to the mainland, which also caused panic. The main reason was that the stock market in Beijing fell too much last night.

Everyone was looking for various reasons for the plunge, and many people were caught off guard.

The next day, Tuesday, February 6, another thing happened early in the morning on the Internet. Many netizens who did not speculate in stocks were participating in the topic discussion, that is, a fierce attack on the now known as "the world's top king who knows more than him, Dong Wang".

Last night, the magnesium stock plummeted, and netizens in Beijing began to discuss it and quickly brought the topic to the world, attracting netizens around the world to join in.

In addition to the wailing and sighing about the stock market crash, the curious Amei netizens dug out what Dong Wang once said on the Internet: If the Dow Jones falls more than 1,000 points that day, then the current president should be loaded into a cannon and shot into the sun at an alarming speed! No excuses!

In fact, this was a post by a netizen with an English name that spoofed Dong Wang's dynamic, making fun of Dong Wang's controversial remarks. As a result, it unexpectedly went viral on the Internet, and many people believed that it was Dong Wang who said it.

Last night, magnesium stocks plummeted, and the Dow Jones Index collapsed by 1,175 points, so many netizens dug up this meme again and made fun of it, and it became popular again.

People who don't trade stocks are having fun playing memes, but people who trade stocks are panicking at this moment, because when many netizens who eat melons are playing memes, a hot news broke out around 8 o'clock in the morning.

A so-called insider broke the news on the foreign network that Beijing Magnesium intends to kick Qunxing Capital out of the SWIFT settlement system.

When this news spread to the mainland, the capital market exploded, and the panic index soared.

If the news is true, doesn't it mean that Qunxing Capital was directly kicked off the table and stopped from playing? You must know that Qunxing Capital's main source of income now is gambling in the international foreign exchange market.

In fact, the global capital secretly envies and admires the ability of Qunxing Capital in the foreign exchange market strategy. No matter what, they can make money according to the existing rules of the game. You can't refuse to accept it.

And you can't do anything to him, because he didn't use means beyond the rules of the game. Even if he did, there is no evidence until now. On the contrary, other people often use methods that are not up to standard.

Everyone plays this way, but he can make money and make a lot of money standing up.

There is no doubt that if the news is true, it will have a huge impact on Qunxing Capital's income, and will produce a series of chain reactions. A series of super projects and strategic plans ahead of Qunxing will be affected to varying degrees, and even trigger a systemic crisis, especially the SGX market. Everyone knows that Qunxing is the absolute star and ballast of this market.

Many people just saw this news and exclaimed that Lao Mei is going to cut off the firewood from the bottom of the pot, dangerous!

Affected by this negative news, the SGX 50 Index, which had just rebounded and stabilized yesterday, fell sharply today and lost the 3,500-point mark. It closed down -2.64% at 3,468.80 points after the market closed, with a huge volume of 740 billion.

This is the result of Fang Hong's early response and preparation, otherwise it would have plummeted by 5% today.

The SGX market has stars to support it, but the two neighboring markets fell even worse. The Shanghai Composite Index fell -3.35%, the Shenzhen Component Index fell -4.23%, and the Shenzhen ChiNext Index fell -5.34%, setting a new historical low.

Because it is true that misfortunes never come alone, in addition to the negative news from the external market that hit market confidence, the mainland itself also ushered in major negative news, and the positive policies on financial deleveraging were implemented one after another, three of which were related to the secondary stock market.

First, trust funds will be reduced in leverage, including the suspension of new intermediate-level financing business and single-ticket financing business; second, asset management plans will be reduced in leverage, and the stocks of companies with asset management plan shareholders will face pressure to reduce holdings; third, equity pledge financing needs to be re-regulated in accordance with new regulations.

In addition, the performance thunder of those listed companies next door has also been concentrated, which has hit the confidence of investors on the main boards of the two cities.

Recently, listed companies in Shanghai and Shenzhen have announced their 2017 operating results. A few companies have announced results that exceed market expectations and have suffered huge losses. Some are even suspected of financial fraud, which has dealt a huge blow to investor confidence.

A typical case is Leshi.com. After the company was listed on the Growth Enterprise Market, it has been one of the leading companies in the Internet industry that has attracted much attention from the market. In May 2015, the company's market value once reached 150 billion, but its actual controller, Boss Jia, has been stranded in the country of magnesium last year and has defaulted on a large number of debts. He is always in a state of returning to China next week.

The company announced today that it expects to lose 11.6 billion yuan in 2017. Since its listing, the company has no record of losses. Such a huge loss also challenges the market's tolerance. In addition, it was suspended from trading in early April 2017 until it resumed trading after the annual report was announced on January 24 this year. Until today, there have been 10 trading days. After the resumption of trading, it has directly hit the limit down for 10 consecutive days.

The investors who were trapped in it wailed everywhere. They were originally cut in half, and after the resumption of trading, they were happy to get a loss of -65%. It can be said that they were cut in half again and again.

What comforts investors is that the listed companies on the SGX market are not bad. Although there are also companies with losses, most of them have good performance.

The most important thing is that there is no fraud in this place. At least there has not been a case in the two years since the listing. Even the ST stock is only WeChat. Everyone knows that WeChat was ST because of "beheading Ma Su with tears". Although it is ST now, it still has a market value of trillions.

Moreover, there has not been a single performance explosion in the more than 1,000 listed companies on the Singapore Exchange. In particular, about 80% of the companies listed in the first two years have performed well. After all, the companies listed in the first two years can be said to be strictly selected by K God, and the quality is guaranteed.

As for the trapped investors, they just want to wait for Leshi to open the board and cut their positions with tears, and transfer whatever little they have left to the New Securities 50ETF.

…

The next day, Wednesday, February 7.

The three major stock indexes in the A-share market fell across the board again. The Xinzheng 50 Index opened high and fell, closing down -1.38% at 3421.02 points, with a turnover of 641.4 billion yuan; the Shanghai Composite Index closed down -1.82% at 3309.26 points, with a turnover of 295.3 billion yuan; the Shenzhen Component Index closed down -1.26% at 10246.97 points, with a turnover of 231.3 billion yuan.

The sharp drop in the Shanghai 50 Index also announced that the institutional group market of blue-chip white horse stocks has collapsed. The slogan of "big is beautiful, core assets" was shouted loudly before, but now it is running faster than anyone else.

The only institution that did not run away was Qunxing Capital. On the one hand, the proportion of holdings was too heavy, and it needed to issue a reduction announcement. On the other hand, it also had an idol burden. Others can run away but you can't, because others can be shameless for money, unless you also want money and be shameless.

Obviously, compared with that little money and face, Fang Hong must have to save face. Qunxing's face is much more valuable than that little money. Just for that little money? It can only be said that the duck opened its eyes and the duck did not close them.

So he did not choose to run away, but stayed in the market and endured the sell-off together.

However, for Qunxing Capital, even if it followed the market to endure the sell-off, it did not lose the principal, because it entered the market early enough to buy the bottom, and the holding cost of the chips was low enough. Now it is at most a retracement of the floating profit.

…