1030 [Wolf of Canton Stock Exchange - Zheng Zhilong]
Guangzhou, Stock Exchange.
Zheng Zhilong is 61 years old this year. Ever since he was stripped of his status as a duke and only had a small title, he has been listening to plays and feasting all day long, and no longer cares about anything in the outside world.
This time it was rare for me to travel far away. One was to see my son in Guangzhou, and the other was to watch the excitement of the exchange.
The bell tower rang nine o'clock, and the door of the exchange finally opened.
Zheng Zhilong squeezed in with his entourage, and saw 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.
Since it is the first day of opening, all stocks and futures have a guide price written on them to facilitate investors to bid before the market opens.
The supervisor of the Guangzhou Stock Exchange is called Huo Zhensheng. He is a serious Jinshi and previously worked at Datong Bank. He asked the official to beat the gong to signal everyone to be quiet, and then held up a tin trumpet and said: "The Guangzhou Stock Exchange is opening today. Let me briefly describe it."
rule……"
Of course, the general direction of the six trading rules set by Zhao Han must be followed, but the details must be changed in practice.
Because in the era before computers, securities trading lagged too far.
Zheng Zhilong didn't understand it after listening for a long time, but he hired a securities broker and ordered: "You get the other things done first, and I'll take a look before talking."
The broker immediately went to buy application forms. These things also cost money. The purchase orders were printed with red ink, and the sell orders were printed with blue ink. He bought hundreds of them in one go, took them back and stood next to Zheng Zhilong and obeyed his orders.
Someone has already filled out the form to bid. This process has also changed Zhao Han's rules. Only the application form in the first five minutes can be canceled because the manual is too busy and it is easy to cause chaos on site.
There was no closing price yesterday, and the official bidding parameters were 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 have been raised too high. You can buy the stocks of Dianjin Bank, which is the former Wanshengyuan Bank and is currently the only bank stock. The issue price is 10
Two taels per share, today’s opening price is sixteen taels, we will definitely make money.”
"Then buy 50 shares first!" Zheng Zhilong was very proud. This little money was just drizzle to him.
The buying and selling price of the application form is filled in a range, otherwise manual matching will be too difficult.
Zheng Zhilong asked his broker to submit the application and waited for thirteen minutes before finally completing the transaction. Then he stared at the blackboard. The stock price gradually changed from 16 taels to 16.2, 16.5, 16.9... Every 15 minutes, traders
Just use chalk to change the stock price.
About 40 minutes later, the stock price of Midas Bank suddenly stopped changing, with a chalk circle next to it marked "Limited Limit".
Zheng Zhilong asked: "The limit means no more buying and selling?"
The broker explained: "There are too many people buying from the Midian Gold Bank. The court stipulates that the daily price rise and fall can be up to 15%. We can't buy or sell today. We can only come back tomorrow."
"Then you calculate how much I earned." Zheng Zhilong said.
Since when applying to buy stocks, you fill in the price range, the transaction prices that come out of the matching are also different. The broker took the abacus and hammered it, and said with a smile: "Congratulations, Sir, after excluding the dental fee (broker's commission) and ticket
Taxes, excluding the money spent on purchasing the application form, Sir Alex made a net profit of 112 yuan, 30.6 cents today."
Zheng Zhilong said in surprise: "I am sitting here, not daring to do anything, just buy some stocks, and I can earn more than a hundred taels of silver?"
"Sir Alex has contributed capital," the agent said.
Zheng Zhilong has long been tired of being at home and has tried various entertainment methods. Now he finally found a new way to play.
Zheng Zhilong was not short of this little money. He just thought it was interesting and said, "Go and buy again. The bank's stocks have reached their daily limit. Other stocks have not stopped yet. If they all stop, I will buy futures."
The broker doesn’t advise me because I only know a few stocks and everything I buy now will go up.
In just over 20 minutes after the market opened in the afternoon, all nine stocks hit their daily limit. Immediately afterwards, even futures hit their daily limit.
There are too many wealthy businessmen along the coast, and the stock exchange is new. Many wealthy people have nothing to do, so they come here to speculate in stocks like Zheng Zhilong.
It has been trading at the daily limit for more than three months, and the number of stocks has increased to 17.
Suddenly, news came that a ship from an Indian trading company had disappeared, but it encountered a storm on the way.
The Indian trading company, whose stock price had reached an absurd level, stopped receiving buy orders within a few minutes of the opening. Zheng Zhilong had a bunch 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 stuck were finally sold one after another.
"How much did you pay?" Zheng Sen smiled.
Zheng Zhilong said: "Not much, I only lost more than three thousand taels of silver."
More than three thousand taels of silver was not much to Zheng Zhilong, but he was very annoyed in his heart and found it hard to keep up his reputation.
Zhao Zhenfang said: "Someone hanged himself."
Zheng Zhilong said in surprise: "Suicide for stocks?"
Zheng Sen sighed: "That man made a lot of money buying stocks, and his play became more and more wild. He even mortgaged his house and asked for a bank loan to trade stocks. The stocks of Indian trading companies plummeted, and several stocks with extremely high stock prices also fell. He also
Unable to afford a loan, the house was taken away by the bank, and the whole family lived on the street. Unable to think about it, he climbed over the wall into his house and hanged himself in the main room."
"This stock is harmful to people." Zheng Zhilong also expressed emotion.
Zheng Sen took the opportunity and said: "It's OK for me to play stocks, but don't be too obsessed."
Zheng Zhilong said harshly: "I'm just having fun."
Newspapers and magazines here in Guangzhou published news about suicide by stock trading, which instantly aroused heated discussion throughout the city.
The common people regard stocks as venomous snakes and ferocious beasts, thinking that they are gambling, and educate their children not to enter the stock exchange. Some intellectuals also write articles criticizing securities trading, cursing stocks and futures for deceiving people and being the most morally corrupt thing in the world.
However, new stocks are constantly being listed, especially banking stocks.
Some newspapers and magazines also added sections to talk about the stock market. Stock experts came from nowhere to give advice in newspapers and teach people how to trade stocks.
Zheng Zhilong is very interesting. His company is not listed on the market, 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 stock traders, all of whom were wealthy businessmen. They joined forces to create fake news, bribed newspapers to spread it, and artificially caused stocks to rise and fall sharply.
Afterwards, several newspaper offices were smashed up, and even a newspaper editor was beaten to paralysis by angry stock investors.
The matter was so big that even the official residence of Zheng Sen, the left-wing political envoy, was surrounded by stock investors demanding justice.
"Father, are you also involved?" Zheng Sen's face looked very ugly.
Zheng Zhilong denied it: "I didn't."
Zheng Sen said: "All the employees of the newspaper involved have been interrogated, and the person who bribed them has been found by following the clues."
"Did you confess me?" Zheng Zhilong asked.
Zheng Sen sneered: "Who dares to testify against you, Sir? But four of the wealthy businessmen who speculated in stocks with my father have been arrested by the government!"
Zheng Zhilong didn't take it seriously and said, "I'm sorry they don't dare to expose me."
Zheng Sen was extremely angry: "Does father lack that little money?"
Zheng Zhilong said: "It's not lacking, but it's interesting."
Zheng Sen said: "In addition to fines, all newspapers involved will have their licenses stamped with a red seal. If they dare to commit the crime again, their licenses will be revoked and their descendants will not be allowed to operate newspapers for three generations. As for those wealthy businessmen, their trading companies have also been stamped with a red seal.
Seal, if you come twice more, it will affect your children and grandchildren's ability to take the imperial examination and become officials in the future. Father, please take care of yourself!"
Zheng Zhilong no longer dared to deliberately create false news, but he quickly learned other tricks.
There was a small stock that had just been listed. Because Zheng Zhilong bought too much, he unexpectedly became the banker. Then he found that he could operate it, and the investors were like fools, being led by his nose.
Washing the market, raising prices, and shipping goods, Zheng Zhilong has tried and tested with success, and he has made tens of thousands of taels of silver in the stock market just by relying on this routine.
Gradually, stock investors have learned to be smarter and know that someone is playing the banker role. If anyone tries to wash the market in small stocks, they will soon be noticed by the old stock investors, and the banker may even trap themselves.
There is also a group of securities brokers who quietly join forces to use their clients' money to manipulate stock prices and make huge profits.
There are more and more messy ways of playing games, 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 pulling the fortune car was talking about how much money someone had made in the stock market, and he looked envious and wished he could go stock trading himself.
People at the bottom really don't dare to speculate in stocks because the minimum investment is one tael of silver. How many kilograms of rice can they buy?
Li Quan wrote a letter to the emperor, asking whether Sihai Trading Company was listed on the market, 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 see other places.
Zhao Han received the letter and learned about the situation of the three major exchanges. He wrote back: "Sihai Trading Company will not be listed for the time being, otherwise the stock will cause a frantic rush and even rise to an incredible price."
The stipulations made before left out a very important content.
One of the original shareholders of a listed company saw the skyrocketing stock price of their company and sold a large amount of money to cash out. Due to improper operation, this move caused the stock price to plummet. Other shareholders sued the company to the government, and investors who had failed to invest also made a fuss.
Due to the lack of relevant regulations, the matter could only remain inactive, and the Securities and Futures Commission submitted a proposal to the Ministry of Finance and the Cabinet for approval.
That is, the stocks held by the original shareholders of a listed company must be different from ordinary shareholders. All original stocks are prohibited from being sold on the stock market within two years of the company's listing. After two years, the sales limit is increased year by year.
Zhao Han pays attention to the development of the securities market every month. There are many disturbing things, but the rules are also constantly improving.
In fact, the situation in the exchanges in the Netherlands is similar. The loophole-taking operations of wealthy businessmen have affected market security and forced big capitalists to make adjustments.
However, China's rectification efforts are even greater.
As for the Dutch stock exchange, all loopholes that benefit big businessmen are selectively ignored.
In just one or two years of development, China's stock exchange will inevitably become more standardized than that of the Netherlands. This is a unique advantage of a centralized government.