What was the name of the 1997 financial crisis that triggered stock-market crashes across East and Southeast Asia?

The 1997 financial crisis that triggered stock-market crashes across East and Southeast Asia was the Asian financial crisis.

The crisis began in Thailand after pressure on the baht forced the country to abandon its fixed exchange-rate policy on 2 July 1997. Currency devaluations, capital flight, heavy foreign-currency borrowing, and weak financial institutions then spread stress across the region.

Thailand, Indonesia, and South Korea were among the economies most severely affected. Stock markets fell, companies struggled with foreign-currency debts, and several governments sought assistance from the International Monetary Fund.

The crisis is also called the Asian financial crisis or Asian currency crisis. Hong Kong defended its currency peg, but its stock market still experienced a major fall during the wider regional turmoil.