Chapter 432 Retail Investors Slaughtered Again
As the afternoon trading session concluded, Dai Shi and his team finally let out a breath of relief.
After an intense day of operations, Jardines Matheson successfully raised its stake in Hong Kong Telephone Company to 41.6%, a figure that far exceeded their original expectations.
It was only then that retail investors across the four major exchanges began to realize—they had once again been harvested like crops.
Bought in at over HK$30 per share, sold at just over HK$20?
Those who lost the most ended up losing nearly HK$10 per share.
Curses and complaints filled the air as anger and helplessness gripped the investors.
They had believed Hong Kong Telephone Company's share price would keep rising, only to realize too late that they had been sacrificed in a capital game.
Many were consumed with regret—regret that they had chased the stock at its peak, regret that they had panicked and sold during the dip, sinking deeper into losses.
Looking at the day's final trades, it was clear: the mysterious force behind the scenes had indeed targeted Hong Kong Telephone Company, but had deliberately refused to push up the price.
"This is clearly market manipulation!" a middle-aged investor growled, his face ashen.
Clutching his trading slip, it showed he had bought 1,000 shares at HK$35 per share, only to be forced to sell them at HK$25, losing nearly HK$10,000—a nearly 30% loss in a single day.
"Exactly! There was heavy buying in the morning, then silence all afternoon, only for a final burst at the end! They're playing us like fools!" another investor chimed in, voice filled with despair.
"It's nobody's fault but our own," an older investor sighed, his expression seasoned with experience. "The stock market is risky, and we should all know that. But at the critical moment, greed blinds us, convincing us we can snatch a guaranteed profit. This time, it's a brutal reminder not to fall for illusions of prosperity."
The trading halls were filled with the sound of complaints and regret.
But that was the nature of the stock market: a zero-sum game.
When someone profits, someone else must lose—that is the unchanging law of the markets.
Greed and fear intermingle with wisdom and luck; everyone must own the consequences of their choices.
While retail investors lamented their losses, Ma Shimin was already arriving at Global Investment Company's office on the 31st floor of Man Cheung Building.
"Mr. Ma, we didn't let you down!" Dai Shi said, stepping forward with a broad smile.
"President Dai, your operations were outstanding—far beyond my expectations," Ma Shimin replied warmly as they shook hands. "This move on Hong Kong Telephone Company not only boosted our shareholding but stirred up a magnificent capital storm."
Then, he added casually, "Have you considered moving your office to Kang Lok Building? I think it would better suit your future development."
Officially, Global Investment Company was the parent company of Jardines Matheson Group because all of Lin Haoran's acquisitions were made through Global Investment Company.
Thus, Jardines Matheson's shares were under Global Investment's name.
But everyone knew that Global Investment Company was just a facade—the true controller was the man behind the curtain: Lin Haoran.
Companies like Green Island Cement, Hongkong Electric Holdings, and Hong Kong and China Gas Company were all registered under Global Investment.
But everyone knew who truly called the shots.
Ma Shimin understood this perfectly.
He admired Global Investment's skill—this operation on Hong Kong Telephone Company was flawless, matching even the capabilities of Jardine Fleming's famous trading teams.
If Global Investment moved into Kang Lok Building, their cooperation would be even smoother, and future mergers and acquisitions would proceed even more efficiently.
After all, they all served the same boss!
"Mr. Ma, actually the boss mentioned this before," Dai Shi smiled. "Before he left for the U.S., he said he planned to move Global Investment's office to Kang Lok Building once he returned. But we're waiting for his final decision."
Global Investment's Hong Kong office wasn't large—barely over 100 employees remained, most already transferred to the U.S.
Thus, moving offices would be easy.
Kang Lok Building was Hong Kong's second tallest skyscraper—a true landmark.
Compared to Man Cheung Building, it was superior in every way.
Lin Haoran even planned to move his private lounge and office there as well.
As for Man Cheung Building, it would be returned to Man Cheung Group—no need to waste prime space.
"Good. Mr. Dai, tomorrow and the day after are the weekend. Now that we've secured 41.6% of Hong Kong Telephone Company, I'll discuss the next steps with the boss and inform you later. Great job today!" Ma Shimin said, smiling.
"It's all part of the job. We're all working for the boss's greater vision," Dai Shi replied humbly.
Afterward, the two reviewed the day's market movements.
Global Investment had cleverly used numerous overseas-registered companies to absorb Hong Kong Telephone Company shares.
Thus, as long as they didn't publicly disclose their acquisition intentions, the Securities and Futures Commission would remain unaware.
For now, they were operating in the shadows—exactly as planned.
Even though holding 41.6% technically granted effective control, Lin Haoran wasn't satisfied yet.
Neither was Ma Shimin.
Hong Kong Telephone Company was too valuable an asset.
With cash reserves abundant, the more they controlled, the better.
Of course, given the company's special role as Hong Kong's communications lifeline, full privatization might provoke government intervention.
Thus, maintaining its listing status was wise.
Still, their goal was clear: hold over 50%, or ideally even 70%.
Right now, 41.6% was only a start.
At 9 PM, Ma Shimin, at home, dialed Lin Haoran's number in Chicago.
It was 8 AM there—Lin Haoran should already be up.
Sure enough, the call was answered almost immediately.
"Boss, it's me, Ma Shimin," he said clearly.
"Ah, Mr. Ma, calling so early. Good news from Hong Kong Telephone Company?" Lin Haoran's voice sounded a bit groggy but quickly sharpened.
"You guessed right, Boss. We now hold 41.6%—far beyond our initial expectations," Ma Shimin said excitedly, then reported all the details from the day's operations.
For Lin Haoran, while Hong Kong Telephone Company was a major enterprise in Hong Kong, it wasn't as massive or important to him as Jardines Matheson itself.
Thus, he viewed this acquisition as just another step in his broader commercial strategy.
However, for Ma Shimin, the stakes felt different.
He knew that successfully acquiring Hong Kong Telephone Company would add a powerful growth engine to Jardines Matheson Group, further strengthening their market dominance and diversifying their operations.
That was why he had been so thrilled when they exceeded their target.
This meant they were one major step closer to fully controlling Hong Kong Telephone Company.
With this acquisition, Jardines Matheson's strength would be dramatically enhanced.
The dream of surpassing Hui Fung Bank and becoming Hong Kong's number one enterprise was drawing nearer.
Meanwhile, Jardine Matheson's power in Hong Kong continued to erode.
After losing Jardines Matheson Group, and now facing even stiffer competition, Jardines Matheson was shrinking back—planning to move its headquarters away from Hong Kong entirely.
The "King of the Hongs," once invincible, was slowly saying goodbye to its dominance.
"Good, excellent work!" Lin Haoran laughed heartily over the phone, his voice full of satisfaction.
The outcome had been expected—but seeing it realized so swiftly was even better.
Just last night, when Lin Haoran went to sleep, they had controlled only a little over 20%.
That wasn't enough for true control.
But now, with 41.6%, they truly held power.
Hong Kong Telephone Company—a monopoly in the fixed-line communications sector—was now firmly under their grasp.
It would further consolidate and expand Jardines Matheson's influence across Hong Kong—and soon, all of Asia.
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