KOSPI · July 16, 2026

The last capitulation before the bottom

-6.37%

single-day change vs previous close

Part of a longer stretch

The AI bubble argument hits the KOSPI

midway through · 2026-06-22 → 2026-07-30, -38.63% over the whole period

What happened that day?

The KOSPI fell 6.37% on the day, three sessions after the 669-point drop
The pattern of a large gain followed by a large fall was repeating — the typical look of a market that has not chosen a direction
That amplitude appears when neither buyers nor sellers have conviction. Small news then moves prices a lot
Plenty of leveraged products makes the amplitude larger still, because they automatically create buying when prices rise and selling when they fall
By this point the KOSPI was more than a third below its June high
The bottom came a little over two weeks later, on 30 July

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.