Which stock exchange saw its benchmark index fall 8.9% on October 16, 1987, during the global Black Monday turmoil?

The Hong Kong Stock Exchange saw its benchmark index fall 8.9% on October 16, 1987, during the global Black Monday turmoil.

The Hong Kong market suffered a severe decline before the biggest U.S. session of the episode. Its Hang Seng Index fell 8.9% on October 16, a Friday. Trading was later suspended for several days as officials and market participants dealt with the disruption, and the market reopened on October 26.

The 1987 crash moved rapidly across time zones. Large declines in Hong Kong and other markets influenced sentiment in Europe and the United States, while investors also reacted to concerns about exchange rates, interest rates, trade imbalances, and computerized trading strategies.

The Hong Kong episode is sometimes overlooked because the U.S. Dow’s 22.6% one-day percentage fall became the most famous statistic. Nevertheless, Hong Kong was among the earliest major financial centers to experience the shock and an important part of the crisis’s international spread.