The Shanghai Composite became the main symbol of China’s 2015 stock-market crash after falling sharply from its June peak.
The index tracks many shares traded on the Shanghai Stock Exchange and is widely watched as a gauge of mainland Chinese equities. Chinese stocks had risen rapidly in the first half of 2015, encouraged by strong retail participation, margin borrowing, and expectations of continuing economic growth.
The Shanghai Composite peaked at 5,178.19 on June 12, 2015. It then declined steeply, losing roughly one-third of its value in a little over a month. Authorities responded with measures including trading suspensions, restrictions on some sales, and support for the market.
The episode is sometimes described as a single crash, although volatility continued into 2016. It also differed from the 1997 Asian financial crisis, which began with pressure on currencies and spread through regional banking and debt markets.