During the 1987 global stock-market crash, the Hang Seng Index fell about 46% from its peak.
The Hang Seng Index is Hong Kong’s leading share-market benchmark. In the weeks surrounding Black Monday in October 1987, it suffered one of the world’s sharpest market declines, falling approximately 46% from its August peak.
The crash began in Hong Kong on October 19, 1987, before spreading westward through international markets. Concerns about overvalued shares, rising interest rates, trade tensions, and automated portfolio strategies all contributed to the turmoil.
The Hong Kong market closed for several days after the crash in an effort to stabilize trading. The episode is often remembered through U.S. statistics, especially the Dow Jones Industrial Average’s 22.6% one-day percentage fall, but Hong Kong experienced a much larger peak-to-trough decline during the broader crash period.