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Chapter 1034 – 1030【The Wolf Of The Canton Stock Exchange——Zheng Zhilong】

Chapter 1034 1030 [The Wolf of the Canton Stock Exchange—Zheng Zhilong]

Guangzhou, Stock Exchange.

Zheng Zhilong is 61 years old this year. Ever since he was deposed to be a duke, leaving only a small title, he has been listening to operas and banquets all day long, and has never cared about anything outside.

This time, it is rare to go far away. One is to visit my son in Guangzhou, and the other is to watch the excitement at the stock exchange.

The bell tower struck nine o’clock, and the gate of the exchange finally opened.

Zheng Zhilong squeezed in with his entourage, only to see several blackboards hanging in front of him, with the names of stocks and futures written on them.

There are only nine stocks and only a few futures.

Because it is the first day of opening, all stocks and futures are written with a guide price, which is convenient for investors to bid before the market opens.

The supervisor of the Canton Stock Exchange is called Huo Zhensheng, a serious Jinshi background, and previously worked in Datong Bank. He asked the officials to beat the gong to signal everyone to be quiet, and then held up a tin trumpet and said, “The Guangzhou Stock Exchange opens today. Let me briefly explain the rules…”

The six trading rules set by Zhao Han, of course the general direction must be followed, and the details must be changed in practice.

Because there was no era of computers, stock trading lagged too much.

Zheng Zhilong didn’t understand after listening for a long time, but he hired a stockbroker and told him: “You get the other things done first, and I’ll have a look.”

The broker immediately went to buy an application form, which also required money. The purchase order was printed with red ink, and the sell order was printed with blue ink. He bought hundreds of copies in one go, took them back and stood by Zheng Zhilong’s side to obey orders.

Someone has already filled out the form to bid, and this process has also changed Zhao Han’s rules. Only the first five minutes of the application form can choose to cancel the order, because the manual work is too busy and it is easy to cause confusion on site.

There was no closing price yesterday, and the bidding parameters were officially set.

As time goes by, the data of each stock and futures is written on the blackboard by traders with chalk…the highest buying price, the lowest selling price, the most traded price, the opening price, etc.

“Can I buy this?” Zheng Zhilong asked.

The broker suggested: “Don’t buy the old stocks of Indian trading companies, they are too high. You can buy the stocks of Dianjin Bank. Dianjin Bank is the former Wanshengyuan Bank, and it is the only bank stock at present. The issue price is ten Two shares, today’s opening price is sixteen taels, it will definitely make money.”

“Then buy 50 shares first!” Zheng Zhilong was very proud. To him, this little money was just a drizzle.

The buying and selling price of the application form is filled in a range, otherwise manual matching is too difficult.

Zheng Zhilong asked the agent to submit the application, waited for thirteen minutes, and finally completed the transaction. Then he stared at the blackboard, and the stock price gradually changed from 16 taels to 16.2, 16.5, 16.9… Every 15 minutes, traders would use chalk to change the stock price.

After about 40 minutes, the stock price of Dianjin Bank suddenly stopped changing, and a chalk circle marked “Limit Up” next to it.

Zheng Zhilong asked: “The daily limit means that you can no longer trade?”

The broker explained: “There are too many people buying some gold banks. The imperial court stipulates that the daily price rises and falls by up to 15%. You can’t buy or sell today, so you can only come back tomorrow.”

“Then do the math, how much I earned.” Zheng Zhilong said.

Since the price range is filled in when applying to buy stocks, the matching transaction prices are also different. The agent tapped the abacus and said with a smile: “Congratulations to the Sir, after deducting the tooth fee (broker’s commission) and ticket tax, excluding the money for the application form, the Sir has a net profit of 112 yuan, 30 cents and 6 cents today. .”

Zheng Zhilong was surprised and said: “I’m sitting here, I don’t dare to do anything, just buy some stocks, and I can earn more than a hundred taels of silver?”

“Sergeant paid for it.” The agent said.

Zheng Zhilong was tired of being crooked at home. He tried all kinds of entertainment methods, and now he finally found a new way to play.

Zheng Zhilong is not short of this money, he just thinks it is very interesting, so he said: “Go to buy again, the bank’s stocks have reached their daily limit, and other stocks have not stopped, so go buy futures when they all stop.”

Brokers don’t persuade them either, because there are few stocks, and everything they buy now goes up.

In just over 20 minutes after the market opened in the afternoon, all nine stocks had their daily limit. Immediately afterwards, even the futures price limit.

There are too many wealthy businessmen along the coast, and the stock exchange is new. Many rich people have nothing to do, so they come here to speculate in stocks like Zheng Zhilong.

In this way, the daily limit has continued for more than three months, and the number of stocks has also increased to 17.

Suddenly there was a news that a ship of the Indian trading company was missing, but it encountered a storm on the way.

Indian trading companies, whose stock prices have reached an outrageous level, no longer have buy orders within a few minutes of opening. Zheng Zhilong had a pile of stocks in his hands, and kept lowering the selling price, but no one came to buy them.

This situation lasted for more than a month, and the stocks that were locked up were finally sold one after another.

“How much did you lose?” Zheng Sen smiled.

Zheng Zhilong said: “Not much, only a loss of more than three thousand taels of silver.”

More than three thousand taels of silver is not much to Zheng Zhilong, but he is very annoyed in his heart, and it is difficult to keep face.

Zhao Zhenfang said: “Someone hanged himself.”

Zheng Zhilong was surprised: “Suicide for stocks?”

Zheng Sen sighed: “That man made a lot of money buying stocks, and his playing became more and more wild. He even mortgaged his house and asked for a bank loan to speculate in stocks. The stocks of Indian trading companies plummeted, and several stocks with extremely high prices also fell. He also Unable to afford the loan, the house was confiscated by the bank, and the whole family lived on the street. When he couldn’t think about it for a while, he climbed over the wall and climbed into his house, hanged himself in the main room.”

“This stock is harmful.” Zheng Zhilong was also quite emotional.

Zheng Sen took the opportunity to say: “Father can play stocks, don’t be too obsessed.”

Zheng Zhilong insisted: “I’m just playing.”

Newspapers and magazines in Guangzhou published the news of suicide by speculating in stocks, which immediately aroused heated discussions in the city.

Sheng Dou Xiaomin regards stocks as poisonous snakes and beasts, and thinks that it is gambling, so he teaches his children not to enter the stock exchange. Some intellectuals also wrote articles attacking securities trading, blaming stock futures for being demagogic and the most morally corrupt thing in the world.

However, there are new stock listings, especially banking stocks.

Some newspapers and magazines have also added sections, talking about stock economics, and stock experts who don’t know where come from, give advice and teach people how to trade stocks in newspapers.

Zheng Zhilong is very interesting. His own company is not listed, but he likes to play in the stock market.

He also particularly likes short-term operations, because long-term investment is not exciting.

Zheng Zhilong also met some stockholders, all of whom are rich and wealthy businessmen. They joined forces to fabricate fake news, bribed newspapers to spread it widely, and artificially caused stock prices to skyrocket and plummet.

Afterwards, those newspaper offices were smashed, and even an editor of a newspaper office was beaten to paralysis by angry stockholders.

The matter was so big that even Zheng Sen’s official residence was surrounded by stockholders demanding justice.

“Father, you also participated in it?” Zheng Sen’s face was very ugly.

Zheng Zhilong denied it categorically: “I didn’t.”

Zheng Sen said: “All the employees of the newspaper office involved have been interrogated, and we have found the person who bought them by following the clues.”

“Did you confess me?” Zheng Zhilong asked.

Zheng Sen sneered: “Who dares to confess to you, the lord? But the rich businessman who traded in stocks with his father has been arrested by the government four times!”

Zheng Zhilong didn’t take it seriously and said, “Forgive them for not daring to expose me.”

Zheng Sen was extremely angry: “Is father short of that little money?”

Zheng Zhilong said: “Not lacking, but interesting.”

Zheng Sen said: “In addition to fines, all the newspapers involved will have their licenses stamped with a red seal. If they dare to commit another crime, their licenses will be revoked, and their descendants will not be allowed to operate newspapers. As for those wealthy businessmen, their commercial companies will also be stamped with a red stamp.” Yin, if you come twice more, it will affect your sons and grandchildren’s imperial examinations to become officials. Father, please do it yourself!”

Zheng Zhilong did not dare to deliberately create false news, but he quickly learned other tricks.

There was a small stock that had just been listed, and because Zheng Zhilong bought too much, he became a banker out of nowhere. Then he discovered that he could operate, and stockholders were led by the nose like fools.

Zheng Zhilong has tried and tested repeatedly to wash dishes, raise prices, and ship goods. With this routine alone, he has made tens of thousands of taels of silver in the stock market.

Gradually, stock investors also learned to be smart, knowing that someone is in charge. Anyone who plays the dealership on small stocks will soon be noticed by the old stockholders, and maybe the dealer will lock himself up instead.

Another group of securities brokers secretly joined forces to use customers’ money to manipulate stock prices to make huge profits.

There are more and more messy ways to play, forcing the China Securities Regulatory Commission to make new regulations.

When Li Quan returned to Shanghai again, he found that it was different from last year. Even the driver who pulled the rich and expensive car was talking about how much money a certain person made in the stock market, with an envious look on his face, wishing he could also invest in stocks.

The people at the bottom really dare not speculate in stocks, because the minimum investment is one tael of silver, so how many catties of rice can they buy.

Li Quan wrote a letter to the emperor, asking if the Four Seas Trading Company was listed, and said that he planned to go sailing and explore.

His ambition is not to do business. The American route is on the right track. Li Quan has also built two new ships and plans to take the crew to look elsewhere.

Zhao Han received a letter and learned about the situation of the three major exchanges. He wrote back and said: “Sihai Trading Co., Ltd. will not be listed for the time being, otherwise the stock will be snapped up wildly, and even rise to an unbelievable price.”

Before the regulations were made, a very important content was left out.

There are original shareholders of listed companies who, seeing their stock prices soaring, sold a large amount of stocks to cash out. Due to improper operation, this move caused the stock price to plummet, other shareholders sued it to the government, and investors who failed to invest also became riots.

Due to the lack of relevant regulations, the case could only be dropped, and the Securities Regulatory Commission submitted a proposal for approval from the Ministry of Finance and the Cabinet.

That is, the original shareholders of listed companies, the stocks they hold must be different from ordinary shareholders. All original shares are prohibited from being sold on the stock market within two years of the company’s listing, and the sales limit is increased year by year after two years.

Zhao Han pays attention to the development of the securities market every month. There are many disturbing things, but the rules are constantly improving.

The exchange in the Netherlands is actually in the same situation. The operation of wealthy businessmen to take advantage of loopholes has affected the safety of the market and forced the big capitalists to make adjustments.

It’s just that China’s rectification efforts are stronger.

As for the Dutch stock exchange, all loopholes that benefit big businessmen have been selectively ignored.

It only takes a year or two to develop, and China’s stock exchange is bound to be more regulated than the Netherlands. This is the unique advantage of a centralized government.

(end of this chapter)