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Chapter 1423: Chapter 1270: Market Opens (Please Subscribe!)
As expected.
Annesley.
Failed miserably.
Ling’s reason was very straightforward.
---Myanmar has the capacity to safeguard its own gold and does not need the United States to worry about it. As for loans, they indicated they are open to discussion like the last time, without accepting any unreasonable additional conditions.
This response.
Once Annesley reported it back.
He was met with a scolding, but Annesley had let go, thinking it was not a big deal, he could either switch places or stop working; with his capabilities, he wouldn’t starve anywhere, or perhaps, he could follow his former boss.
Indeed.
This time the conflict.
Annesley’s boss was changed, forced into retirement.
Currently.
Hired back by ERV as a business manager for one of its lobbying companies, due to his long-standing domestic and international relations in the United States, ERV offered him an annual salary of one million dollars.
And that did not even include the annual bonus.
It was for this reason.
Annesley could hear some rumors about ERV, his old boss also expressed that the company welcomes such people, and if he joined, he could strive for a salary double of what he currently earns.
Regarding the scolding from the new boss.
Annesley acted completely indifferent, like a dead pig not afraid of boiling water.
Whoever cares.
I dare them to fire me.
...
The next day.
October 15th.
Outside was full of turmoil.
The stock market still had to open.
Facing skepticism, Myanmar Bank, cold to the point of not responding, successfully avoided a verbal battle. This posture also reassured many investors who entered the market, liking this tough spirit.
Starting at 7 AM.
Xin’an City.
On the streets and alleyways.
There were more military and police, situated in the city center, the road segment in front of Myanmar Stock Exchange was completely sealed off, from there to the airport, every fifty meters along the road, there was a policeman.
Such a stance.
Was not because they feared someone might harm Ling.
It was simply to show importance, otherwise, Ling’s quiet arrival, his quiet speech, followed by quietly opening the market would seem rather improper, there’s something called a sense of ceremony.
At 8:00 sharp.
In front of the exchange.
Tang Kai was prominent among the guests.
This exchange.
When Xin’an city was initially built, it was contracted by him and Wangsa’s Company, but at that time they did not know it was a stock exchange, the blueprints did not specify, simply marking the building number.
They thought it was for hosting shows.
Unexpectedly.
It turned out to be an exchange going public.
At quarter past eight.
They saw a convoy approaching, knowing Ling had arrived; the media and journalists on site brisked up, cameras pointed that way, meanwhile, the national TV Station’s live broadcast had begun its connection.
A male host was broadcasting live across Myanmar.
"The convoy is heading towards the exchange hall, now, 45 minutes left until Myanmar Stock Exchange opens for the first time, numerous investors and the masses are in front of the exchange, waiting to witness this historic moment..."
Soon.
The car stopped in front of the red carpet.
Ling stepped down.
"Click, click, click..."
Flashes flickered.
Walking towards the guest lineup.
Ling shook hands with each one, and to their pleasure, Ling could precisely call out their names, creating a sense of excitement inside them; after all, no one wants to be ignored as Pedestrian A.
United States.
France.
Germany.
Switzerland.
Polar Bear.
Australia.
...
At least thirty different countries’ investment companies had opened accounts with Myanmar Stock Exchange this time, with more than thirty billion U.S. dollars of foreign currency exchanged in total, which was the result after selection, otherwise, there would be even more.
In the screening criteria.
The most important one.
Is stability.
You can’t just make a profit and then run back to your country the next week or month. This kind of short-term speculative capital is not welcomed here; they can go anywhere they like, especially during the initial phase of the Stock market opening.
Control the scope of risk.
A month or two later.
The Stock market stabilizes.
The Stock price stabilizes.
Only then will short-term speculative capital be allowed to freely enter and exit.
Many institutions felt very upset. What’s wrong with speculating? What’s wrong with making quick money? Isn’t speculation also money? Why discriminate against us? But no matter how loud they shout, Myanmar Bank pays no attention.
Rules.
Set by Myanmar Bank.
Some people even tried to pull strings, to go through other deputies, but all they were met with were cordial faces who couldn’t get things done; they had no power to use backdoors against Myanmar Bank.
After shaking hands.
It was nearly half-past eight.
Ling stepped up to the podium in front of the Exchange.
The audience below immediately started booing.
"Thank you all for attending the inaugural ceremony of the Myanmar Stock Exchange. The importance of the Stock market to a country goes without saying—it serves as an investment channel for everyone and a financing channel for companies."
"But it is also a Pandora’s Box, a pool filled with money, where human nature faces its most honest test, and the pursuit of profit can lead to the loss of rationality."
"Chasing highs, dumping lows, selling low, buying high, frequent trading, speculative gambling..."
The audience below.
All looked bewildered.
Aren’t they supposed to promote the benefits of the Stock market?
Why after the first sentence, it’s all various cautions—it’s not advising against participating in the Stock market, but rather facing up to the risks, acknowledging gains and losses, and avoiding irrational behaviors like blind trading or accumulating debt.
Of course.
Such a down-to-earth speech.
Still received unanimous praise.
Ling isn’t getting carried away.
He’s still the considerate person they know. They don’t realize, this is actually a strategy, a back-up plan strategy. If the Stock market were hyped too much, people would blame Ling when they lose.
Now.
I have disclosed all the risks.
To millions of spectators.
If you lose,
Don’t blame anyone.
This technique of deflecting blame, only a few can recognize it, and many highly praised Ling’s cleverness. However, looking at their watches, they are more focused on what’s happening in fifteen minutes.
Ling didn’t say too much.
After shaking off the responsibility, he ended it.
Next.
He led the way into the Exchange, and the other guests hurriedly followed. Their traders were ready, but they weren’t present at the scene, instead remotely operating from rented locations.
Retail investors were the same.
They could operate from home.
As for the Exchange.
It wouldn’t offer on-site trading on the first morning, but would open normally afterward.
Upon entering the Main Gate.
Rows of traders were already in position. Since many people aren’t skillful with computers or stock machines, or didn’t have the time to come, traders were indispensable.
Over two hundred traders.
Serving over a hundred thousand customers, some of whom opened accounts immediately upon hearing Ling supported it, thought the process too troublesome, and directly told traders to buy stocks and just hold them, or set a high sell price to act upon when reached.
Therefore.
There’s no need to truly call so many customers every day.
At this moment.
Everyone’s attention was drawn to the giant screens in front of the traders, LED screens, about the height of a five-story building, displaying information of all listed stocks from top to bottom.
Since the pricing hadn’t started yet.
All stocks showed their issuance price. 𝘯𝘰𝑣𝘱𝑢𝘣.𝑐𝑜𝑚
Ranked by Market value.
The first.
Naturally, is Myanmar Environmental Technology Company, issue price: 6.6 Asia Dollars, total Market value: 200 billion Asia Dollars. Seeing it, many felt like they saw money itself; 200 billion might be overestimated for other companies.
But for this company.
Definitely a bargain price.
At nine o’clock sharp.
Myanmar Stock Exchange’s first batch call auction.
Begins.
