KOSPI · March 8, 1999

Just as the climb resumed

+6.06%

single-day change vs previous close

Part of a longer stretch

Korea's post-IMF rebound

near the end of it · 1998-06-16 → 1999-04-27, +183.56% over the whole period

What happened that day?

The KOSPI rose 6.06% to close at 571.84. No single trigger for the day could be pinned down
The low of the preceding correction was in late February. This day sits where the climb picked up again
Three things pushed the Korean market then: falling rates, visible corporate restructuring, and returning foreign money
Rates below their pre-crisis level in particular moved household money out of deposits and into shares
The preceding correction ran 22.24% from the January high to the February low
The run carried on and the pre-crisis high returned in late April

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.