KOSPI · August 5, 2019
After Japan restricted material exports
-2.56%
single-day change vs previous close
Part of a longer stretch
Eighteen months under the trade war
near the end of it · 2018-01-29 → 2019-08-07, -26.50% over the whole period
What happened that day?
- The KOSPI fell 2.56% on the day, near the bottom of this decline
- That July Japan had tightened export procedures for three materials used in making chips and displays, and in August removed Korea from its list of favoured trading partners
- Those materials had almost no alternative suppliers, so there was deep worry that domestic chip production could stop if supply were cut
- At the same time the US-China trade fight was flaring again and the won weakened sharply
- In the event the disruption was smaller than feared. Korean firms found alternative suppliers and localised some production
- 7 August was the bottom, and the recovery from there ran to January of the next 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.