The next morning.
After the market opened, the Shanghai Composite Index fell another 3.2%. But once the risks had been fully released and bargain-hunting capital entered the market, it began showing signs of moving sideways.
Fan Wumian gave foreign capital no chance to pick up cheap shares. During the midday trading break, he called the heads of Bandit King Fund and Boshi Fund respectively, then began buying on a massive scale as soon as the afternoon session opened.
Following the previously drafted list of promising stocks worth heavily investing in, he launched buying offensives across more than twenty listed companies. Most of them were Shanghai Composite Index constituents, producing an obvious boost to the index. The market's decline quickly narrowed to around 1.5%.
Quite a few major shareholders took the opportunity to sell, but Fan Wumian did not care in the slightest. With more than ten billion yuan in liquid funds at hand, he bought like mad and rebuilt his positions.
Such enormous market movements naturally drew widespread attention, and financially savvy reporters quickly rushed to Julu Road, hoping to interview Fan Wumian.
His personal assistant, Pu Jiajing, delivered only one message in reply to the reporters: "I did it." Fan Wumian declined any face-to-face interviews.
Even though they had received only those three short words, the reporters who had come to interview him were so excited their hands shook. They immediately returned to their news vans, contacted their supervisors, and posted a brief update on Penguin Weibo.
It happened to be the final trading period, between 2:30 and 3:00 in the afternoon. When some retail investors and financial-industry peers saw the news and learned that Fan Wumian really was buying the dip, many of them were practically pumped full of adrenaline and began piling in as well.
As a