Extraordinary Genius - Chapter 711
Chapter 711 – Some laughs, other cries (Part 1 of 2)
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Norio Ohga could not understand why Sony’s shares would diveso suddenly. There were no problems with the company’s operations, andPlayStation was selling very well. The reviews of PlayStation were excellent,and the sales of their discs, Walkman, CD players, etc. were also doing well.The artistes under their record labels did not have any negative news, andtheir concerts were sold out.
The share prices should continue to rise. Even if there weresome fluctuations, it should not plunge this way. The US market was bullish,and there was no reason why the shares will drop by almost 5% within minutesafter trading starts!
Norio Ohga looked at the transactions. There were multipletransactions of massive amount selling that was causing their share prices todrop.
Who is dumping our shares? Those speculators? Was theresomeone targeting Sony?
Norio Ohga could not care less. He immediately calls theperson-in-charge in the US.
“President, a large volume of shares are dumped by overseasinvestors. It’s not only our company. Toshiba, Sharp, Pioneer, and many otherelectronics companies, which was listed in the US stock exchange, were alsoaffected. Everyone’s shares were dropping like crazy. It had even affected theUS Technology Index!”
“Overseas investors? Do you know where they are from?”
“I am still investigating. But I can confirm that it shouldbe from Asia.”
Asia? Who is it? Which company is doing this? The wholeelectronic companies’ shares are affected, and even the stock market Index is affected?This should not be speculators dumping their shares. This should be plannedsome time ago!
But why are these people dumping all at once? They should beselling the shares batches by batches. They will also suffer losses if theydumped all their shares at once. Why are they not afraid of suffering losses?
Norio Ohga still had not hung up his handphone when his homephone rang. His wife immediately passed the phone to him. Norio Ohga said spokea few words on the phone and then hang up.
“I am going back to the company and will not be backtonight.”
Toshiba’s President was sleeping when he was woken up bysomeone. He was pissed. It was late at night, and he still needed to work thenext day.
“President, our company’s shares plunged suddenly!”
“What did you say? What happened? How much did it drop?”Toshiba’s President immediately wakes up. How come his company’s share pricessuddenly dropped? The electronics industry was doing well. This should not behappening.
“It had dropped by 8%. No, it’s 10% now!” Their share pricesdropped by 10% during the call.
“Why is this happening? Is there any negative news about ourcompany?”
“No. Everything is normal at our company, and there is nonegative news about us in the US. I am not sure about Europe side, I had calledout headquarters, and nothing happened.”
“That means someone is manipulating our share prices?” Hewas furious and shocked at the same time. Toshiba was a big Multi NationalCompany, and it’s worth more than a billion USD. If anyone wants to manipulatetheir share prices, the funds needed will not be a small amount. No one shouldhave the financial power to do this unless it was a group!
He immediately got out of bed and called for a directors’meeting. They must think of a solution before Tokyo Stock Exchange startstrading in the morning. They cannot afford their shares in Japan to plunge!
If their share prices dropped like last year again, then itmight be his last day as the company’s President. He also owns quite a numberof the company’s shares. He will also suffer massive losses!
This night was not quiet for many Japanese MNCs.
Everyone does not know what happened to their company. Whywere people dumping their company’s shares? The share prices of these companieswere dropping like crazy. They noticed they were not the only company that wasaffected. Many Japanese electronic companies’ share prices were also falling.The average drop for the companies was about 10%.
The whole electronics industry shares were falling, and eventhe stock index fell because of their shares. The US market was supposed to bebullish, and share prices had been rising recently. How come the market crashedtoday?
At this moment, many people start to buy in the shares ofthese companies at low prices, and the shares begin to rise slightly. Amongthese people, some were companies.
If someone was targeting one electronic company, it might bepossible. But who was so powerful to target so many companies at once?
Everyone was trying to find out and started to contact eachother. They must stabilize their share prices first. The Prime Minister ofJapan also heard about what happened. If the stock market crash again, thenJapan’s economy would suffer again. He will also suffer another blow.
The next day, all the Japan Electronic companies, includingthe government, start to announce all sorts of good news, hoping to stabilizetheir stock market. But after last night, many investors do not believe them.When trading starts in Tokyo, their share prices start to drop.
Some Hong Kong tycoons who had bought those Electroniccompanies’ shares were celebrating with champagne. Some of them had made akilling, and some made lesser. But overall, everyone made money.
This operation to make a killing in the US stock market wasa success. Only some regretted. If they knew this would happen, they would haveinvested more. The returns were so much higher than their business. No wonderFu Rongqi focuses on the financial market. The financial market was profitable!
The tycoons were waiting for tonight to sell off theirchemical companies’ shares. They had planned for another celebration tomorrow.Just nice, it will be Fu Rongqi’s birthday in a few days. This year, everyonewill be celebrating his birthday with him. He was the reason why all of themwere able to make a killing.
But Fu Rongqi was not in a good mood. These people do notknow about the financial market. How can they dump their shares like this? Ifthey listened to him and sell off their shares bit by bit, everyone would earnmore. But these people did not listen to him. If it wasn’t for someone buyingin those shares at low prices, all of them might not be able to dump theirshares!
When the Tokyo stock market close, Norio Ohga and the restwere looking pale. They were unable to stabilize their share prices, and therewas panic selling, which caused their shares to drop further.
“Norio Ohga, you better explain to us why are our sharesdropping like this?” The director who had praised Norio Ohga yesterdayquestioned him.
“Someone is targeting us and the whole Japanese electronicsindustry, especially the companies that were affected by that incident inChina. We had investigated and those people who dumped our shares, are fromHong Kong!” Norio Ohga raised his voice.
Those people did not try to conceal their identities. Theyhad worked together to buy their shares and push up the share prices beforeexiting the market together. This caused their stocks to plunge. Those peoplewere treating their companies like ATMs.
“Hong Kong? Why are they targeting us? Are there anyelectronic companies in Hong Kong? There are also no Japanese companies thatcaused trouble in Hong Kong. Why are they doing this?”
Norio Ohga looked at that director. Are you an idiot? Youdon’t know the root cause of the problem?
“It is because of profits. They predicted our share priceswill rise and all of them bought our shares in large volume and cause our shareprices to rise sharply. Now, they felt it had reached the price they wanted andstart to dump our shares. Does everyone still remember when our share pricesplunged last year? We did not do much, and our share prices recovered. That wasthe time when these people bought in our shares.”
“This is very critical. How come you did not notice backthen? You even tell us to increase our stakes? Now our shares plunge again. Howare you going to answer to us?”
Norio Ohga was also furious. These directors will claim itwas everyone’s efforts when they make money. But when they suffered losses, itwould be his fault. I give up on this damn position! I do not want to hold onto this Acting President position anymore!
“I have nothing to say. If all of you thinks that there issomeone more suitable than me to be the Acting President, tell me. I will stepdown!”
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