KOSPI · November 23, 2020
Korea's COVID rebound
+78.55%
trough back to the old high
168 trading days · 2020-03-19 → 2020-11-23
this undid the slide that began 2018-01-29
What happened that day?
- From the 19 March 2020 low to 23 November the KOSPI rose 78.55% — 168 trading days
- It undid a decline that had run since January 2018 — trade war, then the chip downturn, then COVID
- Retail investors absorbed the shares foreign investors were selling and pushed the index up. Korean media named the wave donghak gaemi
- Near-zero rates made bank deposits pointless, and opening a brokerage account from a phone had become easy — both pulled retail money in
- Chip prices turned and expectations built around electric vehicle and battery makers, so there was an earnings case as well
- The old high was back on 23 November — eight months
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.