Which 2015 event saw China's Shanghai Composite Index fall sharply after its earlier speculative surge?

The 2015 Chinese stock market crash saw China's Shanghai Composite Index fall sharply after an earlier speculative surge.

Chinese mainland share prices rose rapidly from mid-2014 into June 2015. Millions of individual investors entered the market, and margin financing allowed some traders to buy stocks with borrowed money. The surge pushed valuations higher and created concern that prices had become detached from company fundamentals.

The Shanghai Composite reached a 2015 peak on June 12 before entering a steep decline. Government agencies responded with measures including trading restrictions, support for share purchases and investigations into suspected market manipulation. Despite those interventions, the turbulence continued into 2016.

The episode is often confused with China's later property and technology-sector stresses. It specifically refers to the broad equity-market turmoil beginning in June 2015, centered on mainland exchanges and especially the Shanghai Composite.