Default · Hang Seng Index (2008)
The Hang Seng Index plunged 38.1% from 25043.12 to 15497.81 between May and December 2008 as Lehman mini-bond defaults roiled Hong Kong markets. Replay 144 daily bars, navigate 25 decision points, and receive AI coach feedback in this educational market-replay scenario using simulated capital only.
144 daily bars · 25 decision points · 2008-05 to 2008-12 · Stocks
Key facts
This window spans 210 days with a peak-to-trough drawdown of 56.0% and a 41.7% run-up.
- Max drawdown
- −56.0%
- Max run-up
- +41.7%
- Duration
- 210 days
- Largest single-day move
- +14.3%
- Bars
- 144 Daily bars
- Decision points
- 25
Every figure above is computed programmatically from this replay’s own candle series — no editorial input, no LLM. Methodology: Methodology
The market advances day by day. You only see candles up to the current day — as if you were really there.
At key decision points choose Buy / Trim / Exit / Hold. Each decision advances the timeline by one day.
After settlement you get a six-dimension score and an AI coach review. Your result enters the scenario leaderboard.
Event Replay
What happened — and what it teaches
The Hang Seng Index in mid-2008 faced one of its most turbulent periods as the fallout from U.S. subprime mortgage crisis rippled across global markets. The Lehman Brothers collapse in September 2008 triggered cascading defaults on Lehman mini-bonds sold widely in Hong Kong, affecting countless retail investors. Between May 22 and December 18, 2008, this 144-day replay challenges participants to navigate an era of extreme uncertainty and eroding confidence.
The numbers tell a stark story: the index plummeted 38.1% from 25043.12 to 15497.81, with a maximum drawdown of 56.0%. What makes this period particularly instructive is the largest single-day move of 14.3%, a violent swing that tested the resolve of any investor holding positions. Across 25 decision points, including 9 critical junctures, traders had to make real choices amid collapsing liquidity and panic-driven selling.
This replay hones several essential skills. Participants learn to manage risk when volatility spikes beyond historical norms, to question correlation assumptions during market contagion, and to recognize the psychological trap of holding losing positions in hopes of recovery. The 2000s decade context reminds us that systemic shocks can destroy decades of wealth in months, making disciplined position sizing and emotional control the difference between survival and catastrophic loss.
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