dhibooks Chapter 313 Going All in on Long Positions
Chapter 313 Going All in on Long Positions
July 13, 1998, 4:20 PM.
Causeway Bay, Hong Kong.
There were many people at the entrance of Times Square. Some people hurried by with shopping bags, some stood on the roadside waiting for a car, and some were taking pictures with their cameras.
Ling Yun stood in front of a women's clothing store. He was wearing a dark shirt with the sleeves rolled up to his forearms, and carrying three shopping bags. The bags were printed with different logos, all from the stores An Shiyu had just visited.
An Shiyu was still in the store. Through the glass window, you could see her holding up a dress in front of the mirror. She turned to the side to look in front, then to the side to look behind, then frowned, put the dress back, and picked up another one.
Ling Yun stood at the doorway, watching the people coming and going. Some people walked past him, carrying even more bags in their hands.
An Shiyu had been browsing in the store for almost twenty minutes. She picked up one dress, then put it down. She picked up another, then put it down again. She picked up a white one, held it up in front of the mirror for a long time, and finally put it down as well.
In the shop window, An Shiyu picked up another light blue dress. She twirled in front of the mirror, the hem of the dress fluttering. As if sensing something, she turned her head and saw Ling Yun standing at the door, waving at him.
Ling Yun nodded.
The phone rang.
Ling Yun took it out and glanced at it; it was Li Ziyu.
He answered the call.
"President Ling." Li Ziyu's voice came through the receiver, a little tired but steady, "The operation is complete."
"Um."
"Hang Seng Index futures, 3,800 long positions, average price 6,480 points. Today's low was 6,444, and the closing price was 6,660."
"Um."
"Also," Li Ziyu continued, "on the spot market, we bought some constituent stocks in a diversified manner, including HSBC, Cheung Kong, and Hutchison Whampoa, for about HK$20 million."
"Um."
"President Ling," Li Ziyu's voice lowered, "where...are you?"
Causeway Bay.
"Causeway Bay?" Li Ziyu was taken aback. "Are you there alone?"
"Accompanying Shiyu shopping."
Then Li Ziyu chuckled softly, very softly.
"Then you can continue to keep me company," he said. "I'll just keep an eye on things from here."
"Um."
Lingyun hung up the phone and put it back in his pocket.
In the shop window, An Shiyu was still trying on clothes. This time she chose a pink dress, knee-length, with a bow at the neckline. She looked at herself in the mirror from left to right, and then seemed finally satisfied, taking the dress towards the cashier.
Lingyun watched as she took the bag from the shop assistant and walked out with a smile.
"Have you been waiting long?" she asked.
"no."
"Really?" She looked at him. "Your face is all red from the sun."
Ling Yun touched his face; it was indeed a little hot.
"Let's go," An Shiyu said, taking his arm. "Next place."
They walked along the street. An Shiyu walked slowly, stopping at each shop to look inside. Sometimes she would go in for a quick look, but wouldn't buy anything, and then continue walking.
Ling Yun followed beside her, carrying the bags in his hands.
The phone rang again.
Ling Yun glanced at it; this time it was Sophia.
"Mr. Ling," Sophia's voice came through the receiver, slightly static-filled but clear, "the operations on the US stock market are complete."
"We pledged $2.4 billion worth of stock, mainly from Yahoo, Cisco, and Dell. Goldman Sachs approved a $2 billion loan at an annual interest rate of 6.8% for a term of 1 month."
"Um."
"Funds have been transferred to Hong Kong in batches. They started entering the market at the end of June, mainly buying Hang Seng Index futures and constituent stocks. The trading range was mainly below 7,000 points, with an average price of around 6,980 points."
"What is the total amount?"
"The entire two billion has been used up. The futures and spot markets are roughly equal. The futures leverage was five times, so the actual exposure is approximately... six billion."
Ling Yun didn't speak.
"President Ling?" Sophia asked.
"understood."
"Also," Sophia continued, "Goldman Sachs asked if we needed their help coordinating with the regulators, since this operation is quite large."
"Need not."
"Understood." Sofia paused. "How's it going on your end?"
Ling Yun glanced at An Shiyu. She was standing in front of a shoe store, looking at the samples displayed inside through the glass. Her silhouette was softly illuminated by the light from the shop window.
"Smoothly," he said.
"That's good," Sofia said. "Contact me anytime if needed."
hang up the phone.
Lingyun put her phone back in her pocket.
An Shiyu turned around and looked at him.
"Who is it?" she asked.
"Sophia".
"Work?"
"Um."
An Shiyu nodded. She walked over and took his arm.
His phone rang again.
It's a short message. Sent by Li Ziyu:
"Mr. Ling, I just received news that the Hong Kong government may be getting involved. There are rumors that they will hold a meeting this afternoon to discuss it, but it hasn't been officially announced yet."
Ling Yun looked at the text message but did not reply.
He put his phone back in his pocket.
"You received several phone calls today," An Shiyu said.
"Um."
"Is something important?"
"Um."
She nodded and didn't ask any more questions.
At six o'clock in the evening, it began to get dark.
"Let's go back," An Shiyu said. "I'm tired."
"it is good."
They walked back to the hotel. As the elevator ascended, An Shiyu leaned on Ling Yun's shoulder, her eyes closed.
"I'm exhausted," she muttered.
Ling Yun didn't speak.
The elevator doors opened. They walked to the room door, and Ling Yun took out his room card and swiped it. The door lock made a slight click.
Upon entering the room, An Shiyu collapsed onto the bed, unwilling to move.
Lingyun put the shopping bag in the corner and prepared to change into her pajamas to rest.
The phone rang again.
He took it out and glanced at it; it was still Li Ziyu.
"Mr. Ling," Li Ziyu said in a low voice, "I just received confirmation that the Hong Kong government will be involved tomorrow. The Hong Kong Monetary Authority will hold a meeting tonight and make an announcement tomorrow morning."
"understood."
"Then we'll do it tomorrow..."
"Maintain normal positions," Ling Yun said. "Nothing."
"Understood." Li Ziyu paused, "And," Li Ziyu's voice lowered, "today's closing number, 6660, is six points lower than you said. This..."
"A coincidence," Ling Yun said.
Li Ziyu remained silent.
"Is there anything else?" Ling Yun asked.
"there is none left."
"That's settled then."
hang up the phone.
Ling Yun put his phone back in his pocket and looked at the night view outside the window. An Shiyu got out of bed and walked to his side.
"Work again?" she asked.
"Um."
"How's it going?"
"smoothly."
An Shiyu nodded and didn't ask any more questions.
She leaned on his shoulder, looking at the night view outside the window.
"Are you happy today?" Lingyun asked.
"I'm happy," she said. "I bought so much stuff."
"Are you going shopping again tomorrow?"
"We're going to Ocean Park tomorrow," she said. "You said it."
"it is good."