Steal the enemy's base at the start and build a technological empire.

Chapter 193 My Eldest Sister's Phone Call

The phone rang at three in the morning.

Ling Yun sat up in bed and glanced at the caller ID. It was an international call with the area code Beijing.

"Lingyun." The eldest sister, Ling Yujin, spoke in a low voice, with the sound of wind in the background, as if she were outdoors.

"Sis, so late?"

"I'll get to the point," Ling Yujin said tautly, "Are you currently involved in shorting Hong Kong stocks?"

Lingyun turned on the bedside lamp, the light was blinding.

"No," he said.

"What about the Quantum Fund? Soros contacted you, right?"

"I asked her out. I didn't agree."

There was a two-second silence on the other end of the phone, followed only by the sound of the wind.

"Sure?"

"Confirmed. All my funds are in US stocks; I haven't touched the Hong Kong market."

Ling Yujin seemed to breathe a sigh of relief, but her voice became even more tense.

"There are rumors circulating that you are colluding with international short sellers."

"Who sent it?"

"I don't know. But the rumors have reached the ears of certain departments, and I was told to find out more."

"So you're on a mission?"

"right."

Lingyun threw off the covers, got out of bed, and walked to the window. The Silicon Valley night was completely silent.

"Quantum Fund has already built its positions," he said. "They started accumulating Hong Kong dollars last year, and even if interbank lending rates rise further, it will have a limited impact on them. They are shorting Hong Kong stock index futures and already have unrealized profits."

How did you know?

"My people in Singapore saw their transaction records. Although incomplete, the scale was clear."

"The Hong Kong government's current strategy is problematic," Ling Yun continued. "They're afraid of both the wolf in front and the tiger behind, wanting to maintain the image of a free market but also afraid of a stock market crash. The result is that they're stuck in the middle. Soros and his ilk are now trying to hedge their bets, waiting for the Hong Kong government to be unable to withstand the pressure and either abandon the linked exchange rate, allowing them to plunder Hong Kong, or intervene in the market."

"What if the Hong Kong government intervenes?"

"That proves that Hong Kong after the handover is no longer a free port," Ling Yun said, looking out the window. "They've been preparing for so long, waiting for this moment to intervene. Making money isn't that important to Soros; disrupting Hong Kong is their goal. The Hong Kong government's intervention will trigger even greater market panic, and more foreign capital will flee. Then…"

He didn't finish speaking.

"What will happen then?" Ling Yujin asked.

"At that time, we may need more powerful measures," Ling Yun said. "Not financial measures, but administrative measures. For example, restricting short selling, directly intervening in the market to buy stocks, or allowing state-owned enterprises to intervene and support the market."

"That would damage the reputation of Hong Kong's free market."

"A wolf got into your house, and you're worried the neighbors will say you're too cruel by carrying a hunting rifle?" Ling Yun's voice turned cold. "A free market is based on everyone following the rules. Now that someone's breaking the rules, are you going to play along?"

There was only the sound of breathing on the other end of the phone.

"Can I report these things?" Ling Yujin asked.

"Sure. But don't say I told you."

Why?

"Because I'm just guessing," Ling Yun said. "Besides, I don't want to be the center of attention."

"I understand." Ling Yujin hung up the phone.

Ling Yun put down his phone and stood by the window for a long time.

His thoughts drifted back to his second meeting with Soros in Hong Kong.

"How's your thinking on the Hong Kong issue?" Soros asked bluntly.

"Not considering it."

"Oh, what's the reason?"

"You will lose."

Soros smiled, a very faint smile, his lips twitching slightly.

"We won against Thailand, Malaysia, and Indonesia."

"Hong Kong is different."

"What's different?"

"Hong Kong has China behind it," Ling Yun said. "China will not let Hong Kong fall."

"China's foreign exchange reserves are only $140 billion, and they need to be reserved to deal with the Taiwan issue." Soros pulled a piece of paper from his inner suit pocket and pushed it over. It was a simple table listing the foreign exchange reserve data of several major economies.

"Moreover," he added, "China needs Hong Kong as a window, but excessive intervention will scare away international capital, and they won't dare to do so."

Ling Yun didn't look at the paper.

"You started accumulating Hong Kong dollars last year, and now the interbank lending rate has soared to 300%, but you're not worried because your costs are already locked in. You've shorted stock index futures, and you're currently making a profit." He looked at Soros, "But next, you'll encounter resistance."

"What kind of resistance?"

"Administrative resistance," Ling Yun said. "When market mechanisms fail, they resort to non-market means. For example, restricting short selling, directly buying stocks, or having state-owned enterprises prop up the market."

"That would ruin the reputation of Hong Kong's free market."

"But if they can hold onto Hong Kong," Ling Yun said, "when faced with two evils, they will choose to hold onto it. The Chinese government will not allow you to disrupt Hong Kong's economy, nor will it allow you to easily grab a piece of the pie and run away. If you let them off easy this time, won't Hong Kong become their ATM in the future?"

Soros was silent for a few seconds, then picked up his soda and took a sip.

Are you sure?

"Sure."

"Then let's make a bet." Soros put down his glass. "I bet Hong Kong will abandon the linked exchange rate, and you bet they will hold onto it and repel us."

"bet?"

"I won, and you have to promise me one thing. Whenever I ask, you have to do it," Soros said. "You won, and I'll also promise you one thing."

"Any conditions are acceptable?"

"It must not break the law, and it must not endanger lives," Soros said, "but it must be achievable."

"Can."

Soros leaned back and looked at Ling Yun.

"You are very confident."

"Just to understand them."

"Okay." Soros extended his hand. "Deal."

shake hands.

Soros stood up and put on his coat.

"I will win," he said.

"We'll see." Ling Yun smiled knowingly.

Ling Yun finished reminiscing and searched his memories of the future. The Hong Kong stock index fell below 7000 points in August 1998.

Although Lingyun does not participate in short selling, once the price reaches a low point, Lingyun can certainly buy the dip and take the opportunity to boost the index, causing Soros to lose more money.

Around nine o'clock in the morning, Lingyun called Sophia and asked her to come to the office and bring the investment data.

Sophia reported, "The position building has been completed as planned. Cisco bought 2000 million shares at $10, Dell bought 4000 million shares at $5, Yahoo bought 4000 million shares at $22, AOL bought 1000 million shares at $12, and Oracle bought 1000 million shares at $8, for a total position of $14.8 billion. The account balance is $3 million."

"Yes, keep an eye on the Hong Kong stock market recently. Remember to remind me if there are any major policy changes. Also, let me know when the Hang Seng Index drops to around 7500," Ling Yun instructed Sophia.

"Okay, boss!" Sophia replied while taking notes.