What was the nickname of the 1997 stock-market crash that began in Hong Kong?

The 1997 Hong Kong stock-market crash was nicknamed Black Monday.

On October 28, 1997, Hong Kong's Hang Seng Index fell 1,211.47 points, or 6.4%, amid fear that the Asian financial crisis was spreading. The decline followed pressure on Hong Kong's currency and came soon after sharp market falls elsewhere in Asia.

The Asian financial crisis had begun earlier in Thailand, where the baht was devalued in July 1997. Investors then reassessed currencies, banks, companies, and property markets across East and Southeast Asia. Hong Kong's currency remained linked to the U.S. dollar, but defending that link required very high interest rates, adding pressure to the economy and market.

This Black Monday is different from the better-known Black Monday of October 19, 1987. The same nickname has been used for several market panics, so the location and year are essential when identifying the event.