The Shanghai Composite reached its record closing high before the 2015 Chinese stock-market crash on June 12, 2015.
The index closed at 5,178.19 after rising sharply over the previous year. The rally was fueled by strong retail participation, margin borrowing, and expectations that economic and financial reforms would support higher valuations. Many investors bought shares with borrowed money, increasing the consequences of a reversal.
Prices then fell heavily through the summer. Chinese authorities responded with measures including trading restrictions, liquidity support, and efforts to stabilize major stocks. The turbulence spread beyond mainland China, contributing to a global market sell-off in August 2015.
The record close is often confused with August 24, 2015, known in some coverage as Black Monday because of another sharp worldwide decline. August marked an especially severe phase of the fall, but the Shanghai Composite’s 2015 peak occurred in June.