KOSPI · April 27, 1999
Korea's post-IMF rebound
+183.56%
trough back to the old high
212 trading days · 1998-06-16 → 1999-04-27
this undid the slide that began 1997-06-17
What happened that day?
- From the 16 June 1998 low to 27 April 1999 the KOSPI rose 183.56% — 212 trading days
- It undid the IMF crisis decline that had started in June 1997
- Rates that had been raised to fight the crisis started coming down, and companies could breathe again
- Failed firms were wound up and banks restructured, and foreign investors came back
- As the won steadied, currency losses stopped being a worry and foreign buying grew
- The global internet boom arrived at the same time and KOSDAQ names went vertical
- The 1997 high was back on 27 April 1999 — though much of this gain was handed back in the dot-com bust the following year
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.