KOSPI · May 19, 2004
The day India said reform would continue
+4.85%
single-day change vs previous close
Part of a longer stretch
Three months as China hit the brakes
early in it · 2004-04-23 → 2004-08-02, -23.13% over the whole period
What happened that day?
- The KOSPI rose 4.85% on the day, recovering much of the crash two sessions earlier
- Signals from India that the incoming government would not overturn economic policy calmed the panic
- The rebound showed, in reverse, that the earlier fall had been about Indian politics alone
- But this was a retracement, not a turn. The bigger reason — China's tightening — was still in place
- The KOSPI kept sliding for another two and a half months and bottomed in early August
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.