KOSPI · January 27, 1999

A big up-day inside the correction

+6.39%

single-day change vs previous close

Part of a longer stretch

Korea's post-IMF rebound

near the end of it · 1998-06-16 → 1999-04-27, +183.56% over the whole period

What happened that day?

The KOSPI rose 6.39% to close at 565.20. No single trigger for the day could be pinned down
The market was in a 22.24% correction from its mid-January high to its late-February low. This is a bounce inside it
Recovering from a currency crisis makes for wide swings. Good news and bad news alternated daily
A big up-day in such a stretch is not a turn. It is what happens when the forces in both directions are strong
Korean shares ended that year far higher. The path there was not a straight line
The pre-crisis high returned in late April

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 put together from the public record; where a specific source was consulted it is listed above.