KOSPI · January 2, 2002

A jump on the first session of the year

+4.50%

single-day change vs previous close

Part of a longer stretch

Seven months that doubled the index

midway through · 2001-09-17 → 2002-04-18, +100.02% over the whole period

What happened that day?

January 2, 2002 — the KOSPI rose 4.50% to 724.95. No single cause for the day could be pinned down
It capped five straight gains: the run that began in the last week of December carried straight into the new year
The close was the highest since August 29, 2000 — a recovery that had taken almost two years
Underneath was the bet that the world economy would turn that year, with export numbers said to have bottomed
At home consumption was growing fast. That it was growing on credit-card debt was not yet called a problem
It was the fourth largest one-day gain of the year
The advance held into February, then broke from April

Sources

KOSPI

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.