章節 1186: Chapter 1186: Big money crashes the market
Although after the second oil crisis broke out, the international crude oil price peaked at 39 US dollars a barrel and then began to decline.
However, the road to a lower price was not smooth.
For example, around the fourth quarter of 1982, due to the Latin American sovereign debt crisis, there were problems with the supply of crude oil in Latin America, an important oil-producing region, which in turn caused international crude oil prices to fluctuate at high levels, with prices rising and falling.
Although short-term fluctuations were not too great and the operation was very difficult, this environment was also the most suitable for capital to fight each other, without having to worry about a crash or a sharp rise that would lead to a margin call.
After all, the margin ratio for international crude oil futures on the New York Mercantile Exchange is 5%, so unless the fluctuation exceeds 5%, the position cannot be liquidated!
At this time, the contract price of international crude oil futures fluctuates around 30 US dollars a barrel, and it is difficult to fall by even one dollar. A 5% drop means a drop of 1.5 dollars a barrel, which is not that easy.
Precisely for this reason, the New York branch of Nomura Securities boldly decided to enter the oil futures market with 2 billion US dollars.
There are many players entering the market, and there are also many institutions that take over short and long orders. Although short-term profits are not great, the advantage lies in the high frequency of short-term trading. As long as there are gains again and again, even small profits can accumulate to form a mountain of gold.
This is the charm of the financial market!
Unlike Nomura Securities, Bridgewater Associates and Tiger Management are shorting international crude oil futures. The two hedge funds, which are currently not well-known on Wall Street, have each invested 200 million US dollars in margin and opened short positions at 30.15 US dollars per barrel.
As soon as the $8 billion short order was posted, it immediately interrupted the upward trend of crude oil futures, clearing all the long orders posted on the market and directly pulling down the futures price from $30.22 per barrel.
Many players in the market inquired about the news, and some bold institutions determined that this was an excellent opportunity and directly allocated funds to enter the market, taking orders to build long positions at the price of $30.15 a barrel.
In just a few minutes, the combined short order of 8 billion US dollars placed by Tiger Fund and Bridgewater Fund was completely filled.
The forces of long and short positions once again reached a dynamic equilibrium.
However, the short order of 8 billion US dollars placed early in the morning still affected that day's crude oil futures trading. Institutions that were originally confident in going long chose to be more cautious.
Seeing this situation, the major short sellers would not let go of the opportunity, and they once again covered their short positions, and very tacitly lowered the price of their positions step by step, trying to drive down the price of crude oil futures.
By the time the market closed that morning, the price of international crude oil futures had fallen below 30 US dollars a barrel, fixing at 29.94 US dollars a barrel, and many long positions had suffered losses.
For example, Nomura Securities had opened a long position at the price of 30.18 US dollars per barrel. Now that the international crude oil futures price has fallen to 29.94 US dollars per barrel, they have suffered a direct loss of 1.59 million US dollars.
Many long positions, including those of Nomura Securities, are not sitting around doing nothing. They are unwilling to suffer losses, quickly mobilise funds to enter the market, immediately launch a counterattack, and immediately cover their short positions after clearing all short positions, pushing the price up.
For a while, the New York Mercantile Exchange was in the midst of a fierce battle, with major institutions fighting to the death!
However, Xia Yu paid little attention to the battlefield in the United States. He was very confident in the two future kings of Wall Street, Ray Dalio and Julian Robertson. With the cooperation of the two funds, they could still take down Nomura Securities?
What's more, he also has the future on his side!
...
On the island country side, Jiuding Securities Company has also made some progress in its actions against Ocean Fisheries Company.
'Boss, Ocean Fisheries Company's downward trend is still obvious, so no institutions are willing to bet against it. Therefore, we have acquired 17.28 million shares from the stock market, accounting for 3.2% of the total share capital, at an average price of 287.15 yen per share, at a total cost of 4.962 billion yen.'
Within Jiuding Securities, Matsumoto Yu respectfully reported the specific situation to Xia Yu.
'That's a lot, it's enough!'
'After the market opens in the afternoon, don't hide it, just smash the market and drive the stock price down!'
'Nomura Securities is still shipping, disrupt their shipping plans!'
After hearing this, Xia Yu immediately instructed Matsumoto Yu.
'Understood!'
Matsumoto Yu nodded and replied loudly.
Xia Yu thought for a moment and then instructed Matsumoto Yu again: 'After the sell-off this afternoon, go directly to Nomura Securities tomorrow and target the 23.5386 million shares they hold in the island's Little Silk Industries. Be sure to sign a hedging agreement with them within two days and take over these shares.'
'Since they dare to go long, they shouldn't refuse to make a little more money.'
'Understood!'
'If there are no questions, go downstairs and get ready to act!'
'Yes!'
After saying this, Matsumoto Yu once again bowed deeply to Xia Yu, and then slowly exited the office.
After a short break at noon, the Tokyo Stock Exchange opened again.
Because there were too many shares in circulation and the performance was indeed poor, the stock price of Taiyo Suisan Kaisha, Inc. fell again at the opening of the afternoon session, to 286.75 yen per share.
Many shareholders who held shares in Taiyo Suisan Kaisha, Inc. looked sad when they saw this price.
What they didn't realise was that what made them even more sad was still to come!
One minute after the opening bell, Jiuding Securities immediately dumped the stocks of Ocean Fisheries.
A total of 5 million shares, accounting for 0.9% of the company's total share capital, were suddenly sold en masse at a very low price, set at 280.00 yen per share, a drop of 6.75 yen per share from the afternoon opening price.
Five million shares, that's 33.75 million yen less!
Such a huge sell order was dumped, and there was an uproar in the stock exchange. Countless gazes were attracted by the stock of Taiyo Gyogyo Co.
Everyone guessed that Taiyo Gyogyo Co. was going to have problems!
The staff in charge of monitoring stocks at Taiyo Gyogyo Co. immediately reported the sudden change to their superiors in a hurry.
Nomura Securities, which was shipping according to plan, was also completely disrupted.
Nomura Securities Investment Department.
After receiving the report from his subordinate, Yamakita immediately rushed to the scene. Seeing that all the buy orders on the trading board had been cleared, his brows furrowed.
'Minister, we have received news that the sell order for 5 million shares was placed by Jiuding Securities, and some of it has now been bought by other institutions, leaving less than 3 million shares.'
The subordinate immediately reported the situation to Yamakita.
Yamakita's brows furrowed as he watched institutions continue to buy, sharing this huge sell order, and he secretly let out a sigh of relief.
Fortunately, the brain-dead behaviour of Jiuding Securities in smashing the market had not completely dampened the enthusiasm of other institutions. At least there were still institutions that would buy.
'How many shares have we still not sold?'
Shan Beixiong pondered for a moment and asked his subordinate.
The subordinate immediately replied respectfully, 'Minister, we still have 14.32 million shares left unsold!'
'There's still so much?'
Shan Beixiong's eyebrows were raised in anger.
The company had bet on the stock market and brought in 77.3 million shares, which were shipped starting at 323.46 yen per share. In order to avoid a sharp drop in the stock price caused by too much shipping, they had been shipping them up until now and had not finished yet.
If they did not finish shipping them quickly, the profit from the 14.32 million shares would be very low.
The other day, the president ordered him to maximise the profit for the first quarter.
Moreover, the Taiyo Gyogyo project was set up by the president himself. If the actual profit is much lower than the expected profit, how can he explain to the leaders?
Thinking about this, he immediately told his subordinate, 'We will place orders in batches at a price of 279.95 yen per share.'
'If there are still large sell orders, immediately place orders at a price 0.05 yen lower to preemptively ship the shares. Understand?'
The subordinate replied loudly, 'Yes!'
After that, the subordinate immediately conveyed the instructions to all the employees in the department.
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