China’s Shanghai Composite Index reached its pre-crash closing peak on June 12, 2015.
The index closed at 5,178.19 that day after a powerful rally. It then entered a steep decline, with heavy selling, leveraged positions and concerns about the sustainability of valuations contributing to the turbulence.
The 2015–2016 Chinese stock-market turbulence was not a single trading-day event. The Shanghai Composite fell sharply during the summer of 2015, including major global-market disruptions on August 24, a day often called Black Monday in China and other markets.
The closing peak should not be confused with the lowest point of the later sell-off or with individual intraday highs. The Shanghai Composite is a broad index of stocks listed on the Shanghai Stock Exchange, and its movements were closely watched because of China’s growing importance in the global economy.