KOSPI · September 22, 2003

One line about currencies, one bad Monday

-4.46%

single-day change vs previous close

Part of a longer stretch

Thirteen months as China started buying

midway through · 2003-03-17 → 2004-04-23, +81.67% over the whole period

What happened that day?

September 22, 2003 — the KOSPI fell 4.46% to 714.89. No single cause for the day could be pinned down
Rich-country finance ministers had met over the weekend, and word came out that they wanted exchange rates left more to the market
Asian currencies rose together. The hit to export earnings was priced immediately
On Monday morning Seoul and Tokyo fell the same way
It was the biggest one-day fall of the year, and the third straight decline
The close was the lowest since August 13
From September 9 to September 29 the episode ran -9.30% — a correction of under a month. The index climbed again into year-end

Sources

KOSPI

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.