KOSPI · November 16, 1998
Back above 400 that autumn
+4.43%
single-day change vs previous close
Part of a longer stretch
Korea's post-IMF rebound
midway through · 1998-06-16 → 1999-04-27, +183.56% over the whole period
What happened that day?
- November 16, 1998 — the KOSPI rose 4.43% to 422.21. No single cause for the day could be pinned down
- This was the climb off that summer's bottom, as the fear that followed the currency crisis drained away
- Interest rates were coming down fast — the unwinding of the emergency levels set during the crisis
- Foreign money was returning too: a steadier won meant less to lose on the currency
- It capped three straight gains and was the highest close since November 9
- Three sessions later it rose nearly as much again. November went up without a pause
- The recovery carried into the following year
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.