KOSPI · December 15, 1997
The bailout-deal surge
+10.01%
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?
- On 15 December 1997 the KOSPI rose 10.01% in a single day
- It came right after Korea agreed a bailout with the IMF in early December
- The agreement mattered less than when the money would actually arrive — dollars were still leaving the country
- News that disbursement might be brought forward produced a violent one-day bounce
- In this period the KOSPI would rise 10% one day and give back 10% the next week — the swings were extreme
- The real low came half a year later, in June 1998. This surge was not a bottom but noise in the middle of the panic
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.