KOSPI · October 22, 1997
A big up-day in the week the crisis spread
+6.08%
single-day change vs previous close
Part of a longer stretch
Korea's IMF crisis
midway through · 1997-06-17 → 1998-06-16, -64.66% over the whole period
What happened that day?
- The KOSPI rose 6.08% to close at 601.32. No single trigger for the day could be pinned down
- Through the autumn of 1997 one Asian currency after another was breaking. Korea was in that line
- In such a stretch, a single day of talk about government measures or outside support sends prices jumping — and the next week gives it back
- This market did not actually turn until much later. This rise is volatility, not a change of direction
- The episode fell 55.14% from the July high to the December low. More than half the market gone in six months
- A month later, in November, the government applied to the International Monetary Fund for a bailout
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.