Which exchange's index fell 45.8% during the 1987 Black Monday crash?

Hong Kong's Hang Seng Index fell 45.8% during the 1987 Black Monday crash. The collapse in Hong Kong was one of the most severe national-market declines in the worldwide episode.

Hong Kong's stock exchange suspended trading for several days after the October 1987 turmoil. When trading resumed, prices remained under intense pressure. The market's fall reflected both local vulnerability and the rapid international transmission of investor fear.

The crash moved across time zones. Asian markets were open before Europe and North America, allowing each region's losses to influence the next. Hong Kong's experience therefore became an important part of the evidence that financial markets were already deeply interconnected.

The Hang Seng figure is often confused with the Dow's 22.6% one-day percentage decline. They describe different markets and different measurements. The Dow statistic concerns one U.S. session, while Hong Kong's 45.8% figure describes the index's fall associated with the broader crash and trading suspension.