KOSPI · January 3, 2011
Korea's post-crisis rally
+120.51%
trough back to the old high
551 trading days · 2008-10-24 → 2011-01-03
this undid the slide that began 2007-10-31
What happened that day?
- From the 24 October 2008 low to 3 January 2011 the KOSPI rose 120.51% — 551 trading days
- It undid the crisis decline that had taken more than half the index
- The starting point was the Fed swap line removing the fear of a dollar shortage
- The won had fallen a long way, which made Korean exports cheaper — an advantage in the recovery phase
- China launched a huge stimulus programme and Korean exports to China grew quickly
- The old high returned on 3 January 2011 — though the European debt crisis pushed it back down hard that summer
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.