KOSPI · January 31, 2001

Buying the cut before it came

+4.49%

single-day change vs previous close

Part of a longer stretch

Korea's dot-com hangover

midway through · 2000-01-04 → 2001-09-17, -55.74% over the whole period

What happened that day?

January 31, 2001 — the KOSPI rose 4.49% to 617.91. No single cause for the day could be pinned down
The Fed's decision was due that night. Seoul rose before seeing it
The cut arrived in the small hours of the next Korean day — and the February 1 session fell
A hard drop five sessions earlier made the rebound wider
From January 22 to April 10 the episode ran -21.71%. This rise sat inside it
It was the seventh largest one-day gain of the year
On February 5, five days later, it dropped hard again. A US cut alone did not turn the tape

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.