KOSPI · January 2, 2013
Five months as central banks stepped in again
+14.80%
trough back to the old high
108 trading days · 2012-07-25 → 2013-01-02
What happened that day?
- From the low on 25 July 2012 to the high on 2 January 2013, the KOSPI rose 14.8% over 108 trading days
- The starting point was the ECB president saying in late July that he would do whatever it took to preserve the euro
- In September the US Fed announced bond buying with no end date attached
- More money pushes into riskier assets. Korea, classed as an emerging market, benefited from that flow
- Foreign investors bought heavily in this period. The rise came from flows rather than earnings
- It closed out at year end as America's fiscal cliff was settled
- From the next year, though, a weakening yen and tapering fears pushed shares back down
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.