On April 7th, China’s stock market experienced an epic collapse. By the close, the Shanghai Composite Index had fallen by 7.3%, dropping below the 3100-point mark. The Shenzhen Component Index fell by 9.6%, and the ChiNext Index dropped by 12.5%. In Hong Kong, the Hang Seng Index closed down by 13.2%, with the Hang Seng Tech Index plunging by 17.2%.
A total of 4,430 A-shares fell by more than 10%, accounting for 98.44% of the 5,400 stocks being traded. Almost all of them hit the daily limit down. The market lost 7.53 trillion yuan in value in just one day, making it the day with the largest number of limit-down stocks and the greatest loss in market value in history.
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