KOSPI · April 23, 2015
Two years going nowhere
+22.06%
trough back to the old high
449 trading days · 2013-06-25 → 2015-04-23
What happened that day?
- From the low on 25 June 2013 to the high on 23 April 2015, the KOSPI rose 22.06% over 449 trading days
- That is what nearly two years produced. US shares rose far more over the same span
- It sits in the middle of the years the KOSPI spent inside a narrow band, capped near one level on the way up and held near another on the way down
- One reason was Japan. A much weaker yen worsened the terms for Korean firms competing with Japanese ones in cars and machinery
- China starting to make intermediate goods itself mattered too. Components Korea had been selling were increasingly replaced domestically in China
- Where earnings do not grow, prices do not rise. The KOSPI of this period shows that plainly
- Even so, a small number of companies with strong results rose sharply within it
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.