The first stock market crash was on December 16th, 1996, which was called Black Monday by many investors.

The second stock market crash occurred on July 3th, 21. After the baptism of the last stock market crash, the China stock market was also rectified.

The third stock market crash occurred on February 27th, 27, a year before the Asian financial crisis. At that time, the mechanism of the stock market was perfect, but there was a lot of chaos. There were various bookmakers behind the stock market, who manipulated the stock market behind them.

The fourth stock market crash occurred in 215. In just one year, the China stock market plunged three times, so basically all the stock speculators fell miserably.

the price of stocks in China stock market, excluding specially treated A shares, is limited to 1%. When the price rises to 1% on the same day, the buying will continue until the close, which is called the daily limit. The price of ST stocks is set to 5%, and when it reaches 5%, it is called the daily limit. The daily limit means that the price stops rising on that day, not stopping trading.

The price limit system originated from the early foreign securities markets, and it is a trading system in which the price of each security is appropriately limited in order to prevent the skyrocketing and plunging of trading prices and curb excessive speculation.

Some exchanges will set daily limit for securities, commodities and contracts. For example, a single stock can only go up or down by 1% compared with the closing price in a single trading day. When the price rises to the upper limit of that day, it is called daily limit, and when it falls to price floor, it is called daily limit. Some exchanges will stop trading at the daily limit or daily limit until the market price is out of the upper or lower price limit; Some exchanges will resume trading within an expanded price range after a short suspension of trading.

the main difference between China's price limit system and foreign systems is that after the stock price reaches the price limit, it does not stop trading completely, and trading at or within the price limit can continue until the market closes on the same day.

China's Shanghai and Shenzhen stock exchanges impose price increase restrictions on stock and fund transactions, with the increase ratio of 1%, of which the increase ratio of ST shares and *ST shares is 5%. The formula for calculating the increase price of stocks and funds is: increase price = previous closing price ×(1+ increase ratio), and the calculation result is rounded to the smallest unit of price change.

generally speaking, the stocks with daily limit immediately after the opening of the market have a strong momentum. As long as the daily limit is not opened on the same day, there will still be upward momentum on the next day. The two cases are the daily limit without opening the board and the daily limit with opening the board, and the first case is divided into the infinite empty expansion type and the quantity still sealed; The second situation is the daily limit of the food-eating type, the dish-washing type and the shipping type.

under the trading system of price limit, the price limit is the most powerful, but the extremes meet, and the main force may use the price limit to ship goods at a relatively high level or when the market is not well consolidated and oscillated.