KOSPI · November 26, 2007
A bounce after three down sessions
+4.65%
single-day change vs previous close
Part of a longer stretch
The KOSPI in the financial crisis
early in it · 2007-10-31 → 2008-10-24, -54.54% over the whole period
What happened that day?
- 26 November 2007 — the KOSPI rose 4.65% to close at 1,855.33. No single cause can be pinned to the day
- It came after seven straight down sessions, the heaviest of them on November 21
- The question across world markets then was how much American banks would lose on housing loans. The number being written down was growing every week
- Korea had reached an all-time high at the end of that October. A market that has risen a long way swings harder on outside news
- Bounces in this period consistently lasted only days, because each new quarter of results produced a bigger loss figure
- The low of this episode came on 17 March the following year. From the late-October high the fall was 23.75%
- That was not the end either. The same problem broke open far wider in the autumn of 2008
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.