KOSPI · December 10, 2001

Giving back a fast climb

-5.07%

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?

10 December 2001 — the KOSPI fell 5.07%. No single cause for that one day could be pinned down
It came after several steep up-days. One session the week before had risen sharply on its own
The index had retraced a long way in the two and a half months since the low that followed September's attacks in America, so there was plenty to give back
The backdrop was the bankruptcy of a large American energy company — where the talk about not trusting the books began
No trigger for that particular day in the Korean market can be pinned down, though
From 7 December to 18 December the episode fell 8.62% — short and shallow
The advance resumed after it and ran into the following 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 put together from the public record; where a specific source was consulted it is listed above.