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In the afternoon, Yumin Bank, the parent company of Yumin Finance, once again sent representatives to negotiate with the Government of Hong Kong to learn more about Yumin Finance and Carrian Group in the economic fraud case.
In order to give the depositors waiting outside the Government of Hong Kong a truth earlier, and in order to bring the stock market crash to an end as soon as possible, Murray MacLehose was very tough, urging the Legal Department and the High Court of the Hong Kong to prosecute the Carrian Group and Yumin Finance, making it clear Check it out.
And in order to speed up efficiency, under the instruction of Murray MacLehose, High Court of the Hong Kong also invited Hong Kong Standard Accounting Firm to join the bankruptcy liquidation team.
Xia Yu received the report from the standard accounting firm for the first time, and he realized that this was the kindness of Murray MacLehose.
This kind of thing that can greatly speed up the process of Carrian Group’s bankruptcy and liquidation and figure out Carrian Group’s asset details in advance, there are many benefits, how can he not accept it?
For this reason, after get off work in the evening, Xia Yu also specifically called Murray MacLehose to chat about Sun Hung Kai Bank, and promised to let the standard accounting firm help.
In the next few days, several major events occurred in the banking industry.
The first thing that happened was that Hongkong and Shanghai Bank were swayed by the gourd, and seemed to show their leading position. In the center of the lobby of Hongkong and Shanghai Bank, 1.2 billion HKD was placed in cash. Hongkong and Shanghai Bank was facing a run crisis. Was resolved instantly.
After learning of this news, Xia Yu was just a faintly smiled and lost one. Michael Sandberg can only rely on this little trick to maintain the prestige of Hongkong and Shanghai Bank.
He has been paying close attention to Hongkong and Shanghai Bank, but he knows that the money from Hongkong and Shanghai Bank was collected together, and Hongkong and Shanghai Bank also received financial support from the United Kingdom parent company HSBC Holdings.
However, even though Hongkong and Shanghai Bank put up an extra 200 million HKD, it cannot conceal the fact that it is ranked behind Jiuding Bank and Standard Chartered Bank to resolve the crowds.
even more how Unlike Jiuding Bank and Standard Chartered Bank, Hongkong and Shanghai Bank are involved with Carrian Group and Swire Group. Especially the amount of loans with Swire Group is huge. Everyone knows that Hongkong and Shanghai Bank will meet this time. lost heavily.
Therefore, although Hongkong and Shanghai Bank put out 1.2 billion cash to prove their strength to resolve the run crisis, the stock price of Hongkong and Shanghai Bank continued to fall along with the broader market. At best, the decline was greatly slowed down that’s all.
In addition to Hongkong and Shanghai Bank in the banking industry, Xia Yu also learned that Hang Seng Bank and Bank of East Asia are also raising funds urgently, and it seems that they also want to do something to resolve the run-out crisis.
Hongkong and Shanghai Bank are only the first major shareholder of Hang Seng Bank, so even if Hongkong and Shanghai Bank resolve the run crisis, Hang Seng Bank can only ease it slightly. If you want to solve it completely, you have to rely on yourself, and Hongkong and Shanghai Bank are not redundant. To help Hang Seng Bank.
In the past few days, Hongkong and Shanghai Bank lifted the run crisis, but still 5 small banks declared bankruptcy, raising the number of banks that went bankrupt during the stock market crash this time to 8.
The negative impact caused by the bankruptcy of five small banks is no longer inferior to that of a mid-sized bank, and even because the number has increased, the negative impact is even greater.
It can be said that the banking industry in Hong Kong is now entirely Fire and Ice Two Layer Heaven!
Early in the morning of September 9.
Xia Yu was eating breakfast at home and reading the newspaper from time to time.
When I saw from the “Fengyun Daily” that the United States DuPont completed the largest acquisition involving funds in the history of the United States and privatized one of the oil giants ConocoPhillips into a subsidiary at a price of 7 billion USD, Xia Yu was a little emotional.
“I’m rising, and other consortiums are not idle!”
“Compared with those old consortiums, my Jiuding Consortium is still far behind. Petroleum has just been involved, heavy chemical industry is still at the door, and the military industry is still not moving. The overwhelming majority company is still not strong in the fields that have been involved now. Can only barely dominate in an area.”
“We have to work harder…”
After putting down the newspaper, Xia Yu ate breakfast quickly, then packed his clothes, picked up the clothes, and headed to the company.
The new week is coming, and his bargaining operation should begin!
After convening Liu Tianci, Wang Qi, Jason Gregg and the others to the headquarters for a short meeting, the bargaining operation officially began.
At ten o’clock, the stock market, which had been closed for two days, reopened.
The Hang Seng Index fell slightly, from 621 points 7 to 5 points 619.
Subsequently, as many companies and rich people used funds to enter the buyback shares market, the Hang Seng Index fluctuated continuously.
Many institutions and retail investors whose funds were trapped in the past have finally seen the light, continuously dumping their shares.
As for continuing to hold and waiting for the stock price to rise again?
Except for a few confident investors who think so, other investors and institutions all rushed to clear the stock and fled.
The stock market crash is not over yet! The bank’s run crisis continues, and many banks are at extremely high risk of bankruptcy. Hong Kong’s future problem has not yet been determined. It is a pipe dream to expect a long-term stock market rebound!
It took 1973-6 years for the stock market crash of 7 to recover. How many years might be necessary for the stock market crash to quell the impact? It is better to get the funds back as much as possible and find other things to do…
At 3:00 pm, Xia Yu came to Henderson Land Development Co., Ltd. low-key, and met Lee Shau-kee waiting in the office while making tea.
“Mr. Li, good afternoon!”
“Mr. Xia, long time no see, please sit down!”
“Please have tea!”
After a few simple greetings, Xia Yu provoked the topic.
“Mr. Li, since this morning, many companies have started to buyback shares. Henderson Land Development has much more funds than them. When are you planning to buy back?”
Lee Shau-kee didn’t hide it either. He said with a smile: “Just these two days, I’m not in a hurry.”
Xia Yu hehe smiled: “Yes, I have food in my hand, so don’t panic when things happen!”
Lee Shau-kee shook his head and said with a smile: “Mr. Xia, don’t laugh at me. Although my Henderson Land Development went public in June and raised 6 billion HKD, it also spent a lot of money before the stock market crash. I don’t have much money now.”
“How can it be better than you, God of Wealth, now there are still ten 100000000 million in cash piled up in the lobby of Jiuding Bank!”
Xia Yu laughed, humbly said: “That is, good luck, just because there is so much money in the vault.”
“Mr. Li, you also know that bank funds are operating at a high level. I really want my bank to remain idle for ten 100000000 million HKD, and the interest loss alone will cost 8 10 million HKD a year.”
Lee Shau-kee agreed with Xia Di laughed and did not entangle this topic anymore.
After a brief chat, Xia Yu’s face turned straight and looked towards Lee Shau-kee solemnly.
“Mr. Li, I am here this time to buy something from you.”
Lee Shau-kee eyes narrowed, he pondered for a moment and asked, “I don’t know what it is?”
Xia Yu looked directly at Lee Shau-kee and said softly: “Your company’s equity shares of China Towngas!”
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