KOSPI · April 18, 2001

Up the day before the surprise cut

+5.06%

single-day change vs previous close

Part of a longer stretch

Korea's dot-com hangover

near the end of it · 2000-01-04 → 2001-09-17, -55.74% over the whole period

What happened that day?

18 April 2001 — the KOSPI rose 5.06%. No single cause for that one day could be pinned down
It came after the episode low on 10 April, with prices turning off the bottom
The order matters here: the Fed's surprise rate cut came during the American day on this date — which is the night of this date in Korea
So Korea's gain on this day was not that cut arriving. The cut arrived the next session, which also rose sharply
Through this stretch the KOSPI tracked American tech a day behind, because semiconductors dominated the index
From the late-January high to the 10 April low the index fell 21.71%
The day something is announced and the day the price moves have to be kept apart. Korean and American clocks sit a day off each other

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 put together from the public record; where a specific source was consulted it is listed above.