KOSPI · August 24, 2015
Four months as China's market broke
-15.81%
peak-to-trough, the whole slide
83 trading days · 2015-04-23 → 2015-08-24
still below that peak today
What happened that day?
- From the high on 23 April 2015 to the low on 24 August, the KOSPI fell 15.81% over 83 trading days
- Chinese shares fell more than a third in a few weeks that summer, after more than doubling over the preceding year
- In August China lowered the value of the yuan. It was meant to help exports, but the market read it as a signal of how weak China's economy was
- Korea is among the countries that export most to China and is directly exposed
- An infectious disease outbreak at home that spring had also weighed on domestic spending
- The KOSPI fell heavily on 24 August alone and marked the bottom of this phase
- The advance that began at this bottom is the one that broke out of the range
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.