The Shanghai Composite Index’s closing peak before China’s 2015 stock-market crash was 5,166.35.
The index reached that level on June 12, 2015, after a powerful rally that had begun in 2014. Chinese equities had surged as retail investors entered the market, margin borrowing expanded, and expectations of economic support encouraged speculation. The rally pushed valuations and leverage higher.
Prices then reversed sharply. The Shanghai Composite fell by more than 20% from its June peak by early July, and severe turbulence continued through the summer. Chinese authorities responded with measures including trading suspensions, restrictions on some forms of selling, and efforts to support share prices.
The quoted figure is the index’s closing peak, not its intraday high. The episode is also often described as a Chinese stock-market crash even though it unfolded in several waves rather than one single day. It affected global confidence because China had become a major part of the world economy and international financial system.