KOSPI · January 19, 1998
A jump in the middle of the crisis (19 Jan 1998)
+8.33%
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 19 January 1998 the KOSPI rose 8.33% in a single day
- It sits in the middle of the currency-crisis decline that ran from June 1997 to June 1998
- In this period the KOSPI would surge one day and give it all back the next week — the swings were extreme
- Debt negotiations, restructuring measures and the progress of international support were daily news, and the mood changed by the day
- No single trigger is pinned to this day. Jumps like this are a symptom of high volatility, not a change of direction
- The actual low came five months later on 16 June
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.