Chapter 492: Chapter 480: Market Closed for 4 Days Chapter 492: Chapter 480: Market Closed for 4 Days After leaving the Lu Family Mansion, Su Heyuan made a call to Tao Yong, “Miss Shi is at Jiaxin’s place. She’s fine, just crying her heart out.”
Hu Huihui was also a Young Lady, but she was nothing like Shi Xinyu. Hu Huihui was gentle and considerate, even caring about others, like today when she knew the stock market had plumted and still called to console him, saying the stock prices would rise again after the fall. Not like Shi Xinyu who didn’t show any consideration at all. Tao Yong himself was an investor, and this ti his misjudgnt of the situation not only cost him financially but could also affect his reputation.
It was normal for Tao Yong to lose his temper when his girlfriend was indifferent and even reproachful during such a ti. That’s why you can’t marry soone who doesn’t understand hardships, otherwise it’s just too exhausting.
Lu Jiaxin comforted Shi Xinyu for a while and even brought up the issue, “You used spare money to buy stocks, and those you bought were recomnded by Tao Yong. Even if they’ve dropped, they will rise again in the future. Tao Yong invested tens of millions of capital, this stock plunge has cost him heavily. You should be comforting and encouraging him, not blaming him.”
Shi Xinyu felt aggrieved after being scolded, which is why she ran to Lu Jiaxin to cry. But after hearing her words, she also realized she was wrong.
“Then, why didn’t he tell ? I’m not an unreasonable person.”
Miao Na, who was listening by the side, couldn’t help but roll her eyes. Picking a fight with a boyfriend who is in the business of investnt at this ti either ant she didn’t care about him, or she was brainless.
Lu Jiaxin said, “You should go back and apologize to Tao Yong and then point out his problem too, so he owes you an apology as well, and that will make you even.”
“I don’t want to, it’s too embarrassing to go back like that.”
Lu Jiaxin asked, “Which is more important to you, your pride or your relationship with Tao Yong over the past few years? If you think pride is more important, then don’t go back and stay with tonight. But if you cherish the relationship more, you should go back and apologize to Tao Yong right now.”
If it were a normal day, Tao Yong would have appeased her, but with the current situation, he had no mood to do so. It’s natural for a Young Lady to have a temper, but she should know when to show it. Throwing tantrums without consideration of the situation will only tire a man, and after enough instances, he might give up entirely.
Hesitant at first, Shi Xinyu still went back. Lu Jiaxin, worried because she knew Shi Xinyu had driven here herself, had Zong Jinghua and Nick escort her back.
Just after sending Shi Xinyu away, Lu Jiaxin received a call from Tao Yong. She said, “I’ve convinced her to go back. I just scolded her quite a bit, and she realized her mistake, promising to apologize to you.”
Tao Yong was surprised, “She’s going to apologize to ?”
Lu Jiaxin said, “Arguing with you at this ti was her mistake, so apologizing to you is the right thing to do. However, you shouldn’t have yelled at her either, you scared her.”
At that mont, Tao Yong was in a terrible mood, and when Shi Xinyu criticized him he lost control and yelled. Thus, when he saw her leave, he didn’t follow, waiting until he cald down but then worried sick until he got Su Heyuan’s call and felt relieved.
“I was wrong; I’ll apologize to her later. Miss Lu, thank you!”
Lu Jiaxin said a simple no problem and hung up.
Tao Yong, phone in hand, felt a complex mix of emotions. Nie Zhan giving luxury cars and shares to Lu Jiaxin was one thing, claiming that she never coveted wealth. At the ti, Tao Yong thought this woman had too much savvy, having absolute control over Nie Zhan. But she not only persuaded his girlfriend to open a shop and earn money but also made her realize her faults and willing to admit them. He had to admit, this woman was really impressive.
After dinner, Lu Jiaxin went for a walk in the backyard to aid digestion. Having walked for over half an hour without seeing Nie Zhan return, she didn’t wait anymore and went upstairs to read.
Nie Zhan returned ho after eight o’clock, and hearing that Jiaxin was in her room he headed straight up.
Seeing him frustratedly pulling off his tie, Lu Jiaxin asked with so bewildernt, “What’s wrong?”
Wansheng Real Estate had sold all its stocks, and both of the property projects were sold out. They’d also raised a substantial cash flow through a rights offering. This stock market crash not only had no adverse effect on him but was also beneficial, as he could take the chance to stockpile land.
Nie Zhan said, “Two weeks ago, I told my older brother to close out all the stocks and futures held by the bank, to tighten investnt thresholds and increase the margin requirents for stock lending, and to get as much capital back as possible.”
“He didn’t listen to you?”
Nie Zhan spoke with a tired face, “No. Today the stock market fell by 420 points, and the Stock Exchange announced a market closure from October 20th to October 23rd to clear a massive backlog of unsettled transactions.”
From the ti Lu Jiaxin got out of school till now, she had been too busy, and Su Heyuan hadn’t told her, so she didn’t know about this news, “Closing the market at this ti will only increase the panic among stockholders. When it opens next Monday, the market will drop even further.”
The market would be closed for four days, not including Saturday and Sunday when the market didn’t trade, aning it wouldn’t be until the following Monday that trading would resu. It was predictable the drop would be more severe than today.
Nie Zhan, having thrown his tie on the sofa, said, “Everyone knows this, but the announcent has been made, we can only wait for Monday.”
Lu Jiaxin stepped forward, massaging his shoulders to offer comfort, “Don’t be worried. You’ve done your best, and there’s nothing you can do if he doesn’t listen.”
To console Nie Zhan, she said, “I was previously wondering why your grandfather insisted on calling you back from overseas to take over Wansheng Real Estate, since spreading out assets is not beneficial for family developnt. Now I understand, he’s not only lacking in capabilities and sense of crisis but also overconfident. If real estate and banking were entrusted to him, the Nie family would lose their place on Hong Kong’s rich list within a few years.”
Nie Jingwen was only capable of maintaining the status quo, but in business, if you’re not advancing, you’re regressing, and at this rate, the only future for Wan Sheng Bank was closure.
Nie Zhan said, “Grandfather called over today, hoping that I could help the bank weather this crisis.”
Lu Jiaxin didn’t ask what the crisis was. With the governnt setting stricter regulations for private banks, many had already gone bankrupt. With such a president, Wan Sheng Bank probably couldn’t escape that fate either.
“If you can help, help; if you can’t, then there’s nothing that can be done.”
Nie Zhan shared the sa sentint: he would help within his capabilities, but beyond that, there was nothing he could do. He said, “Grandfather already knows you short sold the Hang Seng Index for 1.12 billion.”
15 million greenbacks were equivalent to 1.17 billion Hong Kong Dollars. He added another three million to make it up to 1.2 billion. Coupled with stocks and company mortgages worth ten billion, it was exactly 11.2 billion.
With a frown, Lu Jiaxin asked, “Did he have soone check on ?”
She had taken out a mortgage loan of 6.2 billion from Wan Sheng Bank, which Old Master Nie knowing was normal, but there were also another 5 billion mortgaged at HSBC Bank. Without having soone check, it was impossible for the old master to know.
Nie Zhan nodded and then reassured her, “It’s your money; even if he finds out, it won’t matter. But Jiaxin, with such a large sum, what do you plan to do with it?”
Just for today, Jiaxin’s assets in Hong Kong had doubled. With the market closed for four days, it would likely drop by at least another 10%, and following this trend, she could make two to three tis the profit.
Reviews
All reviews (0)