KOSPI · January 9, 2023
The day China reopened its borders
+2.63%
single-day change vs previous close
Part of a longer stretch
Seven months betting rates had peaked
early in it · 2023-01-03 → 2023-08-01, +20.21% over the whole period
What happened that day?
- The KOSPI rose 2.63% on the day
- China reopened its borders after three years and sharply relaxed its epidemic controls
- China reopening reaches Korea by two routes: intermediate-goods exports rise, and tourists come back
- Cosmetics, duty free, travel and airlines — the sectors that had leaned on Chinese visitors — rose hard
- At the same time US inflation was turning and hopes were building that rate rises were ending
- 3 January had been the bottom of this phase, and the advance that began there ran to 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.