1June 5438+February, 996, the stock market crash can be said to be the worst. That big robbery caused indelible damage to that generation of shareholders, some of whom have not fully recovered yet. Of course, many survivors were reborn soon after the big robbery.

1995, due to the "327" incident of treasury bond futures, the CSRC issued a pilot suspension of treasury bond futures trading on May 18, which triggered a blowout in Shanghai and Shenzhen stock markets on the same day. In three days, the Shanghai stock market soared from 582.89 points to 926.4438+0 points. Worried about excessive speculation in the stock market, the management immediately suppressed the stock market, so it continued a new round of decline, and in June 65438+1October 6596. Since then, the market has rebounded wave after wave and finally evolved into a round of intermediate market with a time span of more than one year.

The wealth effect of the rising market has prompted more and more investors to continue to participate. The national stock market once again attracted the strong attention of the management, so policies were continuously introduced to suppress it, but the effect was little, and the enthusiasm of investors was still expanding. 65438+February 2, the Shanghai stock market rose by 9.83% in a single day, which aggravated the management's worries. After 65438+February 1 1 the market hit a high point 1258.69. 65438+February 16 People's Daily published an editorial, and at the same time, the two cities announced that the price limit would be implemented from now on. This combination boxing is like the detonation of a nuclear bomb. The Shanghai and Shenzhen stock markets fell for two days, 16 and 17, and the green shutter doors hung high all day. In particular, the trading on 16 was turbulent, and almost no transactions were made in individual stocks. Shareholders are heartbroken and stupefied. 18, the market continued to open at the daily limit, and many investors were still scrambling to sell the stocks with the daily limit. Soon, the stock index poured in, and the stock index rose rapidly, rebounding 7.42% throughout the day. Investors who sold stocks at the daily limit wanted to cry, but the market fell by 7.23% the next day, which basically erased the previous day's gains, resulting in all investors who chased high purchases on 18, and the market continued to be shrouded in panic. Then, after a month or so of consolidation, the market finally began to recover and re-entered the rising channel. 1February 1997 18, the market plunged 8.9 1%. On February 19, it was announced that Deng Xiaoping, a great man of the previous generation, had passed away, and the market rebounded by 7.58% that day!

At that time, Shanghai and Shenzhen stock markets were still in the bull market cycle that began in 1996. Despite the policy repression and the impact of unexpected events, the two markets have experienced unprecedented violent shocks. However, in the end, market forces prevailed and the market quickly returned to its original upward channel. On April 4th, Shanghai hit a new high 1269.73, and on May 2nd, Shanghai hit a new high15/kloc-0.18, closing at 1500. After that, it ended the bull market for more than a year and began to enter the bear market for two years.