KOSPI · April 13, 1998

A big up-day in the middle of the crisis

+5.68%

single-day change vs previous close

Part of a longer stretch

Korea's IMF crisis

near the end of it · 1997-06-17 → 1998-06-16, -64.66% over the whole period

What happened that day?

The KOSPI rose 5.68% to close at 494.89. No single trigger for the day could be pinned down
The market was sliding 51.25% from its March high to its June low. This is a bounce inside that
Debt talks, bank closures and news about disbursement of international support alternated daily, and the mood changed with them
So big up-days came often, and most were given back the following week
Just after a crisis, a large daily gain is not evidence of recovery. It is a symptom of raised volatility
The real low was two months away, on 16 June

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.