KOSPI · February 17, 2003
A bounce a month before the bottom
+4.63%
single-day change vs previous close
Part of a longer stretch
Eleven months when the card bills came due
near the end of it · 2002-04-18 → 2003-03-17, -45.05% over the whole period
What happened that day?
- 17 February 2003 — the KOSPI rose 4.63% to close at 601.87. No single cause can be pinned to the day
- The days before had been a slide. A large one-day gain from a low level happened several times in this episode
- Korea carried two layers of worry: a war about to start in the Middle East, and credit-card debt at home
- Arrears on household card borrowing were rising and the card companies were finding it hard to fund themselves
- The bounce did not end the episode. The low came a month later, on 17 March
- From the early-December 2002 high to there the index fell 30.05%
- Once the war started and the uncertainty cleared, the index rose through the rest of the 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 put together from the public record; where a specific source was consulted it is listed above.