KOSPI · November 21, 2008
A big day after the bottom
+5.80%
single-day change vs previous close
Part of a longer stretch
Four months of testing the bottom twice
early in it · 2008-10-24 → 2009-03-02, +8.53% over the whole period
What happened that day?
- The KOSPI rose 5.8% to close at 1,003.73. No single trigger for the day could be pinned down
- The low of this episode was a month earlier, on 24 October. This day sits in the recovery after it
- News of rate cuts and bank capital injections arrived daily then. On such days the market rose hard
- At the same time the real-economy numbers kept worsening. So large up-days and down-days alternated
- The episode fell 42.27% from the July high to the October low
- Korea was shaken especially hard in this crisis because of dollars. That worry began to lift with the currency swap announced at the end of October
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.