KOSPI · April 9, 2009
The day a US bank flagged a profit
+4.30%
single-day change vs previous close
Part of a longer stretch
What seven months off the bottom recovered
early in it · 2009-03-02 → 2009-09-22, +68.71% over the whole period
What happened that day?
- The KOSPI rose 4.3% on the day
- A large US bank said in advance that its first-quarter results would come in far above expectations
- What the market wanted to know here was not whether banks could earn but whether they would survive. A profit answered that
- Korean shares rising on US bank news looks odd until you remember where the crisis started
- If American finance holds, trade finance keeps working worldwide — and that is how Korean exports get paid for
- The KOSPI's recovery in this period outpaced most. Within six months of the March bottom it was approaching pre-crisis levels
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.