Chapter 353 Victory

It fell 8% on Tuesday and continued to fall on Wednesday.

However, while domestic and foreign short sellers were selling off all domestic assets including stocks, bonds and foreign exchange without leaving any room for doubt, the market's downward trend was miraculously stopped.

The trading volumes in all financial markets shrank drastically, with the total trading volume of stocks in the two markets reaching 8000 billion, and the overall market index closed slightly lower.

Experts say the market has fallen to the bottom, no one is selling and no one is buying, liquidity has completely disappeared; retail investors are hearing that a large number of small and medium-sized brokerages have collapsed, and the impossibility of trading and settlement has led to the decline in volume.

Institutional investors believe that hope sprouts in despair. Today, market sentiment is betting on the final positive expectations, because if the market falls further, a financial crisis will really come. There is reason to believe that stronger administrative forces will emerge to rescue the market.

Vice versa, if the stock market fails to rebound tomorrow, it will mark the complete failure of the rescue operation and will be the beginning of a financial crisis...

Various opinions and rumors pieced together the overall picture that the market did not plummet today. Xie Jingxing flew to Beijing on Tuesday night and attended three consecutive top rescue coordination meetings until Wednesday night.

At the end of the long meeting, the conclusion was drawn in one sentence: the rescue policy must be implemented immediately and the money must be in place, otherwise people will die!

Definition changes are no longer an action plan, and if the market doesn’t turn positive, it will turn red.

Rescue forces from all sides were pressed into the decisive battleground, so on Wednesday, the China Securities Regulatory Commission reopened the suspension approval channel, suspending hundreds of stocks in a single day, and thousands of stocks in the entire market were suspended and power was cut off.

At the same time, major shareholders are strictly ordered not to reduce their holdings within six months and to make an announcement of their plans to increase holdings.

The central bank provided a credit line of 21 billion yuan to 2600 leading securities firms through the Securities Investment Fund to increase their stock holdings; the China Banking Regulatory Commission temporarily lowered the review standards for listed companies' equity repurchase or pledge business to provide financial support.

All means were used, and the stock market closed slightly lower on Wednesday, dragging greater risks to Thursday

The entire front-line rescue force including the China Securities Finance Corporation, various securities firms, and Grapefruit Capital must eliminate mutual distrust and engage in the decisive battle tomorrow, firing all the bullets in their hands.

"Are you going to sign it or not?"

Late at night, in the Grapefruit Capital office, a slightly plump leader paced back and forth in front of the conference room door, impatiently warning: "You will be responsible if the funds are not in place tomorrow!"

"Wait a moment, Mr. Xie is busy and will be here soon."

Two young employees acted as door gods, standing guard at the door of the conference room, one on the left and one on the right, turning back and forth to deal with the matter perfunctorily, and frequently looking at the three safes placed on the long table in the conference room, as if they were looking at a disaster star.

The team leader was so furious that he wanted to explode. Under normal circumstances, his smart subordinates would have stepped forward to ease the atmosphere, but at this moment, several subordinates were sitting scattered behind him watching his performance.

When I left the Beijing headquarters in the evening, I encountered rush hour traffic. The patrol police cleared the way for the flight to wait. It was like being in an American blockbuster movie, and we arrived at Grapefruit Capital on schedule. Then I was left alone in the conference room for more than half an hour.

They have reason to be angry.

"Before, we urged them eight times a day, but they were still hesitant. Now they are getting anxious when a knife is put to their necks. I don't think this is a good time to enter the market." Tang Man on the other end was also full of resentment.

Investment manager Zheng Zhe advised solemnly: "In any case, the funds are in place, liquidity support is confirmed, and the overall situation of the rescue operation has been determined."

“They first let the media issue a statement on their behalf, and then indirectly forwarded the statement to confirm the provision of liquidity. This shows that they still do not want to bear the blame and bear the doubts about the industry’s ethics.”

Tang Man objected seriously: "From this point of view, the situation is urgent now and they have provided the first batch of cash flow. It is doubtful whether they will provide the so-called unlimited liquidity support as promised when the market stabilizes slightly later."

"The characterization of this highest-level rescue coordination meeting has been very clear. As long as the policy is implemented, there will be no room for them to be capricious." Zheng Zhe took a clear stance on his own position.

Tang Man laughed in anger. Song Anli beside her interrupted faintly, "Wasn't the meeting to coordinate the rescue of the market last Sunday high enough?"

The dispute ended instantly. The last rescue coordination meeting did not give any room for the parties involved in the rescue to be capricious, but everyone could see how the plan was implemented.

Zheng Zhe was speechless but insisted on his opinion. He turned to look at his boss sitting behind the desk. Tang Man and Song Anli did the same.

If the market's high opening and decline on Monday made them glad that Grapefruit Capital could wait and see and enter the market later, then the 8% single-day plunge on Tuesday made them panic and resist the rescue operation itself.

Xie Jingxing took a deep breath and wanted to say something, but in the end he just shook his head silently. He had already said everything that needed to be said, and now the only thing left before him was a choice.

"I hear your point of view, that's all."

He broke the deadlock in this way, stood up, buttoned his clothes carefully, smoothed out the wrinkles, and walked out slowly.

In silence, Song Anli and the other two watched, keeping all their personal thoughts in their hearts, and followed him closely.

"signature."

Xie Jingxing walked into the meeting room without any explanation or courtesy. The team leader waved his hand with a look of relief, and several subordinates were busy opening the safe, out popped out three boxes full of documents.

The accounting and legal teams of Taihe and Xiyou came in one after another, 300 billion, 200 billion, 500 billion... In two hours, a total of 3000 billion funds were transferred into Taihe Capital's stock market account group like a tide in the silence of the night.

"Mr. Xie, thank you for your support and understanding!" The team leader shook his arms vigorously.

Xie Jing Xing pulled his arm back and put one hand in his pocket: "Let's go, don't keep your colleagues waiting too long."

"Okay, let's go."

Song Anli's voice was hoarse as she pushed the door open. Xie Jingxing left first, and a group of Taihe Grapefruit employees followed quietly under the leadership of Zheng Zhe.

The team slowly left the conference room, and the leader clenched his hands in a slightly awkward manner and said, "Let's go, follow me."

"Sorry, there are not enough cars. Please wait a moment." Song Anli blocked the way.

The leader was stunned: "What do you mean?"

"What I mean is, when Mr. Xie and the others arrive, we will free up a fleet of cars to pick you up." Song Anli said in a light tone.

The leader of the team immediately changed his expression: "Nonsense, it's against the rules for you to mess around like this. Our investment manager has the right to participate in your investment strategy meeting throughout the whole process."

"Mr. Tang, please entertain the leader." Song Anli said goodbye and left.

3000 billion yuan of funds requires a sufficient trading team to operate, and Xiyou’s office space is insufficient, so the villa rented by the quantitative trading department is used as a temporary frontline position.

The traders from the Grapefruit Quantitative and Active departments as well as those transferred back from Taihe's Singapore office are all in place and are waiting for Xie Jingxing to come over and formulate today's operation plan.

After the first three days of this week, the distrust among the main rescue forces was difficult to dispel, and the initial strategy of cooperating with each other to pull up the blue-chip heavyweight stocks to drive the market up became ineffective.

Therefore, we will simply change the route tomorrow. We will still pull up the blue-chip stocks with heavyweights, but we will try to reduce coordination as much as possible. Each main force can fire freely and buy any stocks they want, as long as they fire the bullets.

Based on this, as the creditor who has put up 2000 billion in leveraged financing, it should have the right to understand the detailed operation plan.

"You are violating the rules. I will report this to my superiors and have your account locked!"

The team leader could not control himself and lost his dignity in front of his subordinates, shouting loudly. He was so tired that sweat appeared on his forehead and his sparse hair stuck to his face, but he did not get any response.

Tang Man stood at the door of the conference room and remained indifferent. If she didn't trust him, she didn't trust him. Now the more confidential Xiyou's operation was, the safer it would be.

"Don't just stand there. Can't you see the leader is tired? Hurry up and make some tea."

The cell phone rang, and Tang Man turned around and left.

"Mr. He, Xiyou's stock market operation plan will definitely not affect the operation of the venture capital fund... There is no talk of withdrawing investment. You can sue us. Of course, you can also resell your investment shares... OK, if you can persuade all Zhejiang investors of Xiyou Capital to resell their investment shares with you, then please..."

"The rescue operation cannot be cancelled, and President Xie has no time to see you... I know you are very powerful in the clothing manufacturing industry, and Xiyou can choose not to invest in clothing projects in the future... But please remember that when the financial crisis came, Xiyou participated in saving hundreds of industries and countless you..."

The beautiful figure walking through the dark corridor was enchanting and wanton. The team leader pursed his dry lips, gathered his strength to continue waving his arms and scolding, but he did not take a step out of the meeting room.

Go ahead and struggle, struggle as hard as you can. As long as you survive, you can always bring some life to the market.

…………

"The villa is nice. The office building is too cramped. After this busy period, Xiyou and Taihe have both moved to stand-alone office space."

"Stand-alone office buildings in Shanghai are quite expensive right now."

"Just treat it as an alternative asset investment. It's so nice to be able to breathe fresh air and look at the flowers and plants."

When it was daybreak, the operational planning meeting ended, and all the legal and accounting personnel left. Only a dozen traders and risk control personnel were left in the villa to take a short rest, gather their strength and wait for the decisive battle at the opening.

Xie Jingxing was standing outside the villa chatting with a few traders when Song Anli walked over quickly with her phone in hand.

"Hello, Dad." He walked a few steps away and answered the phone.

“Is the funding in place?”

"Ah."

"Don't be stubborn. You are still young and there will be many opportunities in the future."

"I know."

"That's it for now, I won't delay your work." After a few words, Old Xie hung up the phone neatly. Xie Jingxing put down his phone and accidentally saw an unread WeChat message.

[I had a dream, and the dream interpretation indicates that it is a very auspicious omen. ]

This message came from his old mother. Xie Jingjin couldn't help but smile. He went back to the room and went into an independent office on the second floor: "Pour me two glasses of wine, with ice."

"Two cups?" Song Anli hesitated.

Xie Jingxing raised his hand and rubbed her face: "It's enough for you to stay sober and calm."

"it is good."

Song Anli's pretty face flushed instantly. She suppressed her inner emotions and smoothed the hair by her ears.

Yu Tong sent a video he recorded for his daughter, Qi Tian sent a message, Cheng Wei and others expressed their concern and tried to test each other...

Xie Jingxing locked himself in the office and responded one by one until the ice ball in the wine glass gradually melted, and he drank two glasses of wine in a row.

At 8:50, the office door suddenly opened with a bang.

"It's the chairman of Juntai Securities who called me three times and insisted on speaking to you."

Song Anli, who had been guarding outside the door, handed over her mobile phone. Excluding the vast majority of blue-chip stocks with heavyweights, there were only a few of the two oil companies left. The weight of these stocks in the market index was too high, so the main force had to cooperate in the strong pull.

"I know what you want to ask, just listen to me first."

Xie Jingxing grabbed the phone and walked to the edge of the second floor, looking at the many traders sitting at their workstations in the hall: "Within half an hour after the market opens, I will invest 200 billion; in another half an hour, 300 billion; in another half an hour, 400 billion, until the market stops falling and rebounds."

"You can watch, but if the market falls again after rebounding, I will die with regret."

He threw the phone to Song Anli without waiting for a response, and his feet stepped on the iron steps, making a muffled sound like a drum: "Don't think about operating techniques or market sentiment. The only thing you have to do is to get rid of 3000 billion in two days.

“You have to consider whether this will be the highlight of your trading career, you will dominate market sentiment and blow up all technical indicators.”

Xie Jingxing spoke with excitement, and came behind Zhan Yunping and pressed his shoulders: "Have you heard that nursery rhyme? Get moving, let's catch mice!"

The little mouse climbed up the lampstand and tried to steal some oil, but couldn't get down.

The nursery rhyme that Xie Jingxing had heard when he was five years old became a death curse for the short sellers when the bidding started at 9:15 today.

The market index opened 5% higher. On Tuesday, hundreds of billions of long funds evaporated instantly, and today, hundreds of billions of short funds disappeared instantly.

The market officially opened at 9:30, and billions of bullets were shot into the market by hunters simply tapping the keyboard and pulling the trigger.

The rats who stole the oil had no chance to breathe. They were placed on the platform and could not get down. They had to watch themselves explode. The domino effect led to a bigger explosion.

The trend of PetroChina's stock drew a straight red line that deviated from all technical indicators, as if it was grabbed by someone and pulled out of the quagmire.

This is indeed the case. A huge amount of buy orders are piled up at the market price, swallowing up the sell orders. It doesn't matter who is trying to unwind the losses and dump the market, or how many rats are hiding in the sewers and stealing food in the market with leaks on all sides.

3000 billion is enough to wipe out everything.

This is the rescue strategy that has not changed from the beginning to the end. The concentrated release of positive news and the elimination of 3000 billion in two days are both "water diversion" and "flame".

Ignite the market sentiment, and the greedy mice, following their instinct, will immediately squeak and follow the flames to bite to death their slow-reacting counterparts.

"The market has broken through 3600 points, and the trading volume is increasing!" Zhan Yunping suddenly shouted.

Wan Xue, who was working at the next workstation, shouted, "The bond market rebounded, stock index futures surged, and some shorts were hit and are being liquidated in batches."

“When the index broke 3650 points, all the 7 stocks I was responsible for hit their daily limit. Now all the stocks that were not suspended in the market are turning positive!”

Amid the constant exclamations, someone cursed: "Rat! Why is there still someone dumping the market at PetroChina? The trading volume has exceeded 30 billion. My position is % occupied. I need funds... Damn, there are buy orders. The friendly forces are finally coming in!"

"Two oil companies plus two more account groups, keep going, don't stop, pay attention to the trading room discipline and shut up!"

Xie Jingxing had a cold expression, and was not at all drunk and excited like at the beginning of the market. He calmly shuttled through his positions and issued firing orders to his soldiers, pouring ammunition to sweep the market and charge towards the bears.

…………

3600, 3650, 3700, 8% increase.

"Boss, do you want to slow down for a bit? It looks like we're done for today."

At the headquarters of Juntai Securities, the assistant was forced to push open the door of the chairman's office due to a favor.

The chairman sat in front of the computer, waved his hand expressionlessly, and said, "How much money have you used up?"

"Uh, 300 billion is available." The assistant approached cautiously.

"300 billion? The Securities Investment Fund gave us a special credit line of 1000 billion!"

The chairman suddenly stood up, grabbed his shoulders and dragged him to the computer: "Look, take a good look, Xie Jingxing has spent at least 800 billion so far, you look at him risking his life, tell me I should slow down?!"

"If I don't make 1000 billion by tomorrow's close, Xie Jingxing will die with his eyes open. I won't die with him. I have to thoroughly investigate the proprietary business department before I die. Get out!"

…………

"Stop raising your price, you are not a human being, stop raising your price!"

At 3850 points, someone in the trading room had a mental breakdown, with snot and tears streaming down his face, wailing in incoherent words that he himself could not understand. His carnivorous nature had completely disappeared, and only endless fear remained.

"Pull him out." Xu Xiang folded his hands in front of his chest with a calm expression.

The deputy came over and whispered, "Three of our short positions in stock index futures in Qingdao were liquidated, and one account was liquidated, with a 3% return, or nearly 1 million yuan."

"I can understand forced liquidation due to failure to close positions, but how do you explain losing positions?" Xu Xiang clenched his hands and bit his cheeks.

The deputy was speechless for a few seconds and then said meaningfully, "The bullish rally today was too violent and fast. We didn't have any time to react. I heard that the main rescue forces of the securities firms went to Beijing for a meeting the night before yesterday."

"Okay, you go and do your work first."

Xu Xiang turned back to his independent office, leaned against the door, took out his mobile phone, changed the SIM card and checked the text message box. It was empty and there was no change from before the market opened in the morning.

"Grass!"

Xu Xiang smashed the phone viciously.

…………

The stock market closed at 3895 points, up 9.9%.

"1017 stocks in the two markets hit the daily limit, and thousands of stocks hit the daily limit."

In a villa at a scenic resort hotel in Hangzhou, a private equity manager locked himself in the room and muttered to himself, with the Weibo interface displayed on his mobile phone screen.

When the music of market liquidity stops, things will become complicated. But as long as the music continues, we have to dance. - Xie Jingxing

This is what the former CEO of Citibank said before the financial crisis in 08, and it is very appropriate at this time.

"Anyone in? We're coming in."

Three men in formal attire politely pushed the door open, frowning as they were choked by the thick smoke in the room. “Mr. Wang Xin, you may have to come with us and cooperate with the investigation.”

“How long will my sentence be?” the private equity manager asked blankly.

"We are just cooperating with the investigation. The rest is not our business."

"You know what, I just can't figure it out."

The private equity manager stared at the clean brazier. He couldn't understand why the big boss behind the scenes, who had always been mysterious, would lose his mystery when he called in the morning.

Like a little child, she hysterically cursed Xie Jingxing for being a bully and a lunatic. After cursing Xie Jingxing, she cursed a woman named Zhou.

He kept cursing in circles, and when he was tired, he said in a panic that he had to go abroad to rest for a few months and would never treat him badly in the future.

The private equity manager felt that Xie Jingxing was indeed mad and desperate to destroy all the short sellers, but this had nothing to do with any force, and market matters should be left to the market.

The bears were killed head-on and did not organize any counterattack, or no one could have expected that the bulls would be so determined today. Xie Jingxing really dared to fight with his life.

(End of this chapter)