KOSPI · February 12, 1999

A bounce inside the Brazil shock

+5.30%

single-day change vs previous close

Part of a longer stretch

Korea's post-IMF rebound

near the end of it · 1998-06-16 → 1999-04-27, +183.56% over the whole period

What happened that day?

12 February 1999 — the KOSPI rose 5.30%. No single cause for that one day could be pinned down
The month before it was all downhill. Brazil let its currency float in mid-January and money left emerging markets again
Korea had risen sharply through the fourth quarter of 1998, so there was plenty to give back
The real recovery from the currency crisis had already begun by this point. Prices still swung on outside events
This bounce did not end the episode. The low came about ten days later, on 24 February
From the January high to the February low the index fell 22.24%
After that the KOSPI rose for the rest of the year. 1999 stands as the year of the recovery

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.