KOSPI · March 24, 2020
The 2020 swap line and the KOSPI
+8.60%
single-day change vs previous close
Part of a longer stretch
Korea's COVID rebound
early in it · 2020-03-19 → 2020-11-23, +78.55% over the whole period
What happened that day?
- On 24 March 2020 the KOSPI rose 8.6% in a single day
- The COVID crash had sent the won sliding, and fears of a dollar shortage like 2008 were back
- After the close on 19 March, the Bank of Korea and the US Federal Reserve announced a renewed currency swap line
- Being able to borrow dollars when needed steadied the exchange rate quickly
- The Fed's unlimited bond-buying announcement in the same window turned global markets as well
- 19 March was the KOSPI's low, and the rebound from there ran to the old high on 23 November
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.