KOSPI · August 1, 2023
Seven months betting rates had peaked
+20.21%
trough back to the old high
143 trading days · 2023-01-03 → 2023-08-01
What happened that day?
- From the low on 3 January 2023 to the high on 1 August, the KOSPI rose 20.21% over 143 trading days
- As inflation slowed, opinion turned toward US rate rises coming to an end
- Several US regional banks failed in March and the market rose anyway, on the view that a shaky banking system would stop the central bank raising
- At home, battery-related shares led this stretch. They were priced on the premise that demand for electric cars would keep growing
- Some names multiplied several times over in months, and buying with borrowed money grew alongside
- Phases like this reverse fast when the premise moves. Battery shares fell heavily over the following two years
- Chip shares tied to artificial intelligence also had their first large rise in this period
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.