Reborn in America, I'm serious about making money.

While international speculators were sweeping through Southeast Asia with unstoppable momentum, Hong Kong was already trembling. After reaching its peak, the Hang Seng Index began to show signs of weakness and started to decline.

The main player here can be said to be Zhang San, who disguised his funds or accounts used for short selling.

At this time, the United States was known as the strongest on Earth. Without its northern big brother, it could be said that it was the number one country in the world.

Half of the funds involved in this short selling came from Zhang San, who had previously exchanged a large amount of US dollars, traveled around the world, and then returned to Hong Kong.

This money is actually the money Zhang San took, but it's not the same money. It's a bit of a mouthful, but that's the gist of it.

Once those funds are deposited into accounts of various funds around the world, they will leave a trace at the settlement bank no matter where they go.

Some of these funds were converted into bearer bonds, some into stocks, which were invested in North American internet stocks, and some were used for other investments.

These funds were eventually loaned out to Golden Globe Bank. This process changed the nature of the funds, as a loan had been added in between.

With just a few documents and a mortgage agreement, these can be used as collateral to obtain a loan.

Therefore, there is a gap in the flow of these funds, making it difficult to trace them.

Zhang San was unwilling to participate in short selling, but after thinking it over, he realized that if he didn't short sell, others would make the money, and those people might use the money to live a life of debauchery. Since that was the case, he might as well make the money himself, and when the time came for a comeback, he could contribute some of his strength.

We can simply change our identity and come back to buy at the bottom, which would revitalize the Hong Kong stock market. Wouldn't that be wonderful?

With this mindset, Zhang San began to slowly short sell when the Hang Seng Index reached over 15,000 points. At the same time, he borrowed stocks everywhere to short sell simultaneously, and the operation of hundreds of billions of Hong Kong dollars had already formed a momentum.

As mentioned earlier, if Zhang San were to sell off his entire portfolio of HK$100 billion worth of stocks in a suicidal, plummeting manner, he predicted that the Hong Kong stock market might collapse.

The current internal and external environment is complex, and overseas financial markets are volatile; preparations have already been completed, and now is a good time for large-scale short selling.

Actually, there was another group of people doing something similar at that time, except they were carrying the sedan chair for Zhang San.

In a typical trading scenario, one group is responsible for rolling buy-ins and sell-outs, while another group is responsible for selling; they will control the rhythm and then deliver a fatal blow at a time they have planned.

The atmosphere in the futures trading room was extremely tense. One person was furious and lashed out at the others. They had planned to short sell, but someone had acted first, putting them in a passive position.

Enraged, his voice boomed, and he pounded his index finger on the table. "How could you let this happen? Our plans have been completely ruined!" His eyes were filled with anger and disappointment.

The others sat silently in their chairs, their faces grave. They, too, were caught off guard by this sudden turn of events. One of them explained softly, "We didn't expect anyone to act first..."

But the angry man didn't listen. He interrupted, "This is an unforgivable mistake! What should we do now?" The entire trading room fell silent as everyone pondered how to respond.

At this moment, a calm person stood up and said, "Don't worry, we still have time. We can reassess the market situation and develop a new strategy."

Zhang San had no idea that he had stolen the fruits of others' labor and preemptively conducted a huge financial transaction.

Unlike other speculators, Zhang San had only one goal: to burst the bubble in Hong Kong's financial market, and then let those international speculators, who were known as the strongest speculative capital on earth, know that Hong Kong had already fallen before they arrived.

When the market bottoms out to a certain level, speculators will become hesitant to short sell, as that would lead to others buying at the bottom.

For many businessmen, Hong Kong remains a valuable asset; many will see the bright spots in a crisis and find gold in garbage.

The average annual return of the Hong Kong stock market is 19.9%, which is of course the result of long-term holding.

In the case of short-term operations, it is unlikely that the return will reach 19.9%.

Despite Zhang San's relentless efforts, the Hang Seng Index showed signs of potential collapse. He managed to drive down both the index and stock prices.

However, it was only when the great demon king was attracted that Zhang San was ready to finish things off.

Sure enough, by late October, international speculators had moved their attention to Hong Kong, an international financial center, targeting the Hong Kong linked exchange rate system.

Because of the frequent exchanges between the two places and their many similarities, Thailand is now being swept up by speculative capital and Liangzai Fund.

On the other hand, in some places, the sudden surrender had serious consequences, with the currency depreciating by 3.46% in a single day, increasing pressure on the Hong Kong dollar and the Hong Kong stock market.

This is just a way to put pressure on Hong Kong and force it to abandon its fixed exchange rate, which is impossible.

The speculative investors felt everything was ready, and then they witnessed an unforgettable scene.

They felt they couldn't squeeze out any more profits, and if they shorted again, the other side would definitely retaliate with all their might.

Sure enough, when those people tried to make a move, on October 23, 1997, the Hang Seng Index in Hong Kong plummeted by 1411.47 points; on the 28th, it fell again by 1621.80 points, dropping below the 8,000-point mark. Faced with the fierce attack from international financial speculators, Hong Kong reiterated that it would not change the existing exchange rate system, and the Hang Seng Index rose, once again surpassing the 10,000-point mark.

But it's useless, they don't care about any of that; this is just for show for the mainland; and now, it's so strange, they haven't even arrived yet, and the Hong Kong stock market is inexplicably flat? But something feels off, you should stand up.

In mid-November 1997, South Korea in East Asia also experienced a financial crisis. On November 17th, the Korean won's exchange rate against the US dollar plummeted to a record low of 1008:1. On November 21st, the South Korean government was forced to seek assistance from the International Monetary Fund, temporarily controlling the crisis. However, by December 13th, the won's exchange rate against the US dollar had further declined to 1737.60:1. The won crisis also impacted the Japanese financial industry, which had significant investments in South Korea.

In the latter half of 1997, a series of Japanese banks and securities companies went bankrupt. The Southeast Asian financial crisis evolved into the Asian financial crisis.