KOSPI · April 3, 2012
Six months after money reached Europe's banks
+24.00%
trough back to the old high
130 trading days · 2011-09-26 → 2012-04-03
What happened that day?
- From the low on 26 September 2011 to the high on 3 April 2012, the KOSPI rose 24% over 130 trading days
- In December and again in February the European Central Bank lent banks three-year money very cheaply
- Once the fear of bank failure lifted, European yields fell and money that had fled risk returned to emerging markets
- At home, results in chips and cars held up. With the yen still expensive, the terms of competition with Japan were favourable
- The KOSPI recovered much of the summer 2011 plunge across this stretch
- But the money lent in Europe had only bought time, and shares shook again by spring
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.