KOSPI · November 27, 2009
Two months when the recovery paused
-11.31%
peak-to-trough, the whole slide
47 trading days · 2009-09-22 → 2009-11-27
still below that peak today
What happened that day?
- From the high on 22 September 2009 to the low on 27 November, the KOSPI fell 11.31% over 47 trading days
- It followed more than six months of rising without pause from the March bottom. Gains of that size produce a give-back
- In late November it emerged that a state-owned developer in Dubai had asked to delay repaying its debt
- The amount was not large in global terms. What mattered was the demonstration that even a company with a state behind it might not pay
- It signalled the crisis moving from banks to countries, a shift that broke far more violently in Greece the following year
- 27 November was the bottom, and shares rose again from there
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 written from the sources listed above.