During China's 2015 stock-market crash, the Shanghai Composite's peak closing level before its plunge was 5,166.35.
The index reached that close on June 12, 2015, after more than doubling from its level a year earlier. The rally was fueled by strong retail participation, margin borrowing, and expectations that economic or policy support would keep share prices rising.
The market then reversed sharply. By early July, Chinese authorities introduced emergency measures, including trading suspensions, restrictions on some selling, and support efforts intended to stabilize prices.
The Shanghai Composite later experienced another severe decline in August 2015. The episode is sometimes confused with the separate 2015–2016 turbulence, which describes the broader period of volatility rather than only the initial summer fall.