KOSPI · April 14, 1998

Yesterday's bounce, handed straight back

-5.51%

single-day change vs previous close

Part of a longer stretch

Korea's IMF crisis

near the end of it · 1997-06-17 → 1998-06-16, -64.66% over the whole period

What happened that day?

14 April 1998 — the KOSPI fell 5.51%. No single cause for that one day could be pinned down
The session before had risen by about as much. Up one day, down the next was the default shape of this stretch
The bailout programme was four months old. How far to restructure the companies and the banks was the daily news
Hope and disappointment traded places inside the same week. A plan meant a rally; a delay meant giving it back
The neighbourhood did not help. Southeast Asian currencies were shaking again and a weaker yen pressed Korea's export outlook
From the early-March high to the mid-June low the index fell 51.25% — the crisis's second bottom

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.