KOSPI · April 29, 1999
A wobble after doubling
-4.74%
single-day change vs previous close
What happened that day?
- On 29 April 1999 the KOSPI fell 4.74%
- The index had risen very fast from the low of summer 1998
- Retail money poured into Korean stocks that year, pulled in by large new equity funds that sold heavily
- A fast run produces days like this along the way, as selling arrives to lock in gains
- No single trigger can be pinned to this day
- In this stretch the index was 12.39% below its peak
- The KOSPI still finished 1999 up nearly double
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.