Rumors ran rampant online, yet discerning the truth from falsehood was challenging.
Because sometimes black could be turned into white, and white could be claimed as black, especially when there was no evidence to support casual gossip.
Wen Chao felt a chill of fear, as he had been closely monitoring the market and the public sentiment. At the moment the news broke, he decisively liquidated his positions, investing $150 million and securing a profit of $52.21 million.
Also that evening, he promptly called Lu Liang to inform him that he'd settled his positions in offshore RMB.
The sway of public opinion mattered, but it was the sudden upheaval in the market that was more significant.
Ever since the businessman had become a central figure and made a political declaration, a massive surge of capital had instantly flooded the market, thwarting the rise of the RMB.
