bookrebus Chapter 717 The First Industrial Exposition Brought a Triple Jump to the Stock Market and a Change o
Chapter 717 The First Industrial Exposition Brought a Triple Jump to the Stock Market and a Change o
In mid-August 1946, the first Nanyang Industrial Exposition, which lasted for a month, successfully concluded at the National Industrial Exhibition Center.
The closing ceremony lacked the thunderous impact of the opening ceremony, but the figures in the summary report were more convincing than any grand pronouncements.
The total number of visitors has exceeded 1.2 million, including more than 150,000 overseas visitors; direct trade intention contracts have been signed worth more than 500 million Nanyang dollars; and direct investment commitments have been attracted, including factory establishment and joint ventures, worth more than 1.5 billion Nanyang dollars.
Numerous media outlets around the world have reported on this topic, with terms such as "Made in Southeast Asia," "Chinese Wisdom," and "Rising Star in Technology" frequently appearing in newspapers.
This is not only a commercial success, but also a comprehensive and high-profile display of the country's image and industrial strength.
However, what is more meaningful than these cold, hard numbers is the flow of people's hearts and capital.
During and after the expo, a notable phenomenon emerged: a significant number of the Republic of China-era businessmen, industrialists, and technicians who came to visit and negotiate chose to stay.
Some of them had already considered leaving after the Rong family kidnapping case, and this expo became the last straw that broke their hesitation; others made their choice after witnessing firsthand the thriving industrial scene, the relatively stable social order, and the policies that encouraged industry in Southeast Asia.
Three days after the expo closed, Liu Guojun, a textile tycoon in Shanghai, signed an agreement with the Nanyang Industrial Development Agency to invest in and build a modern textile factory in Penang, and brought his family to the city.
Li Zhuchen of Tianjin Chemical Plant sent a technical team led by his son, along with some key equipment, south to engage in in-depth cooperation with local chemical companies in Southeast Asia.
Even some engineers who were formerly under the National Government's Resources Commission resigned from their public positions through various channels and accepted high-paying jobs from companies in Southeast Asia...
Faced with this sudden southward migration, the Nanyang government responded swiftly and efficiently.
The Immigration Department and the Economic Development Commission have jointly launched a special skilled migration and investment pathway, simplifying procedures and providing one-stop service.
For Chinese people bringing capital, technology, or projects, the process was almost entirely streamlined. Within just a few weeks, more than two thousand business families and nearly ten thousand related individuals officially obtained residency or citizenship in Southeast Asia.
What followed was a massive influx of capital.
This capital, originating from the Republic of China era and primarily from the Yangtze River Delta region, flowed like a burst dam into the banking, stock, and real economy sectors of Southeast Asia.
The Sin Chew Daily Stock Exchange was instantly thrust into the spotlight.
The trading floor was bustling with noise; the ringing of telephones, the clatter of quotes, and the shouts of brokers almost lifted the roof off.
On the stock chart, the numbers representing stock prices fluctuated wildly.
"Up! Up again! Sin Chew Airlines has broken through 180 yuan."
"Nanhua Electronics Manufacturing Group has triggered the circuit breaker mechanism for the third time today."
"Nanhua Power Group's stock price rose by more than 15% within an hour of opening. It's crazy, everyone's gone crazy."
"Buy, buy it all, take as much as you can, the funds are flowing across the sea, you'd be a fool not to buy now."
The market is extremely liquid and optimistic sentiment prevails.
The Southeast Asian stock market, which was originally of limited size, expanded like an inflating balloon driven by a massive influx of new funds.
The overall index jumped three levels in the week following the expo's closing.
On Monday, buoyed by the successful conclusion of the expo and expectations of foreign capital inflows, the market opened sharply higher and rose 7.2% on heavy volume.
On Wednesday, news broke that the first batch of southbound capital had been confirmed to have been exchanged for Nanyang dollars on a large scale and entered the stock market, causing the index to surge again by 9.8%, with many stocks hitting their daily limit.
On Friday, more official news regarding the implementation of real business investments and positive immigration data was released, causing market sentiment to reach a fever pitch. The index surged 11.5% in a single day, marking the largest single-day increase in the history of the Sin Chew Daily, with trading volume reaching more than ten times the daily average.
Many newspapers used sensational headlines in their financial sections, such as "Epic Bull Market," "Great Capital Migration," and "The Rise of the Eastern Wall Street."
In teahouses and taverns, even ordinary citizens are talking about who bought which stock and how much money they made.
A near-nationwide frenzy of wealth and boundless confidence in the future permeated the entire Southeast Asia.
Of course, the overheated market also alerted the economic management departments in Southeast Asia. The Ministry of Finance and the Central Bank began quietly studying mild regulatory measures to prevent a potential bubble.
Regardless, this wave of capital and talent flowing south injected incredibly strong fuel into the industrialization process of Southeast Asia, and its far-reaching impact far exceeded the success of a single exposition.
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While Southeast Asia was basking in the joy of a bountiful harvest and economic boom following the conclusion of the expo, the situation on the South Asian subcontinent was sliding in another dangerous direction.
On August 19, Kolkata, a major city in eastern India and the capital of Bangladesh.
This city has historically been a place where followers of the Crescent Moon Church and the Sindhu Church live together, and where conflicts are complex and intertwined.
As John's colonial rule weakened and calls for the separation of the two countries and religions grew louder, tensions between the two religious communities escalated, like a powder keg.
The trigger was an accidental conflict.
A member of the Crescent Moon Church and a member of the Sindhu Church got into a quarrel over a trivial matter at the market, which escalated into a fight.
The rumors spread rapidly like wildfire, and extremists on both sides took the opportunity to incite unrest.
Soon, the conflict escalated into a mass violence incident between followers of the two religions.
Stones, sticks, Molotov cocktails... the streets of Kolkata turned into a battlefield, with rioters setting fires, looting, and attacking shops and temples in opposing communities.
The colonial authorities were short-handed in terms of military and police forces and were slow to respond, and were even accused of favoring one side.
The violence quickly spiraled out of control. In just a few days, according to incomplete statistics, more than 3,000 people died in the conflict, tens of thousands were injured, and more than 100,000 were left homeless.
Calcutta was littered with corpses, thick smoke obscuring the sun, and this once-jeweled city in King John's crown was plunged into bloody chaos and terror.
The unrest did not stop in Kolkata.
The sparks of religious vendetta began to scatter to surrounding areas, and the entire Bangladesh region, and even the wider Ganges Plain, felt this suffocating unease.
However, amidst this widespread chaos and disorder, a few places present a completely different picture.
In northeastern India, the situation is much more stable in several princely states bordering India, such as Assam and Tripura, as well as in the vast princely state of Hyderabad in the central and southern regions.
The rulers of these princely states had established a special security cooperation relationship with the United States of Southeast Asia through secret channels long before the end of World War II.
Nanyang not only sold it relatively advanced light weapons, mortars, and radio equipment, but more importantly, it sent a military advisory group to help it train and reorganize its original guards, establishing a more professional and loyal royal guard.
Upon hearing news of the riots in Calcutta, the princes of these princely states immediately raised their guard and strengthened border controls and internal patrols.
Sure enough, soon after, sporadic groups of thugs attempting to infiltrate, along with deserters and bandits fleeing from the surrounding areas due to the unrest, began to covet these relatively wealthy and stable princely states.
Conflicts have become the best litmus test and billboard for products and services from Southeast Asia.