KOSPI · November 11, 2022
Six weeks off the bear-market bottom
+15.20%
trough back to the old high
28 trading days · 2022-09-30 → 2022-11-11
What happened that day?
- From the low on 30 September 2022 to 11 November, the KOSPI rose 15.2% over 28 trading days
- 30 September was the bottom of that year's bear market. From this point the KOSPI entered a recovery lasting several years
- The decisive event was a US inflation reading in early November that came in below expectations. If prices slow, rate rises can stop
- What had pressed on the market all year was rates, not earnings. That is why a single inflation reading produced such a large move
- The exchange rate also peaked and came down in this period. A stronger won makes it easier for foreign investors to return
- The bounce lasted only six weeks, and shares slipped back into year end
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.