Which stock exchange was the first major Asian market to plunge during the worldwide Black Monday of 1987?

The Hong Kong Stock Exchange was the first major Asian market to plunge during the worldwide Black Monday episode of 1987.

Hong Kong’s market fell sharply before the crisis reached Europe and the United States. Its collapse helped demonstrate how closely linked international financial markets had become, with investors reacting to overseas losses, currency concerns, and rapidly spreading fear. Trading in Hong Kong was suspended for several days after the severe decline.

The event then moved across time zones. European markets recorded major losses, and the Dow Jones Industrial Average later dropped 22.6% on October 19, 1987. This sequence is why Black Monday is often described as a global crash rather than simply an American stock-market event. It also encouraged regulators and exchanges to consider coordinated safeguards against disorderly trading.