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A number of stock market crashes have occurred in the Hong Kong stock market since the 1960s: 1960s. Stock disaster in 1965 (Canton Trust Bank run) Stock disaster in 1967 (Hong Kong 1967 Leftist riots) 1970s. Stock disaster in 1973 (1973–74 stock market crash) 1980s. Stock disaster in 1983 (Negotiation deadlock between China and United ...
The crash started overnight in Asia as Hong Kong's Hang Seng Index fell 6%, although the most widely watched Asian market, Japan's Nikkei 225, only fell 2% on the day.The losses spread to the European markets, where London's FTSE 100 Index fell 98.90 points, or just about 2%, to 4,871.30.
Investors deserted emerging Asian shares, including an overheated Hong Kong stock market. Crashes occur in Thailand, Indonesia, South Korea, Philippines, and elsewhere, reaching a climax in the October 27, 1997 mini-crash. October 27, 1997, mini-crash: 27 Oct 1997: Global stock market crash that was caused by an economic crisis in Asia.
Hong Kong: 1983: Real estate: Accounting fraud. An auditor was murdered, an adviser committed suicide. The largest collapse in Hong Kong history. Texaco: United States: 13 April 1987: Oil: After a legal battle with Pennzoil, whereby it was found to owe a debt of $10.5 bn, Texaco went into bankruptcy. It was later resurrected and taken over by ...
Black Saturday, 24 September 1983, is the name given to the crisis when the Hong Kong dollar exchange rate versus the United States dollar was at an all-time low. On that day, US$1 exchanged for HK$9.6. [1] For a period, Hong Kong stores began quoting products in US dollar prices, because of the uncertain fluctuation in domestic currency.
Hong Kong's Hang Seng lost 0.6% to 16,832.52, while the Shanghai Composite fell 0.3% to 3,066.66. ... One of the big reasons the U.S. stock market has screamed higher since late October is the ...
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Japan’s Nikkei 225 index fell 1.8% following a holiday on Monday, but indexes were much stronger in China where stocks rose 1.8% in Hong Kong and 2.5% in Shanghai.