KOSPI · June 10, 1999
The summer household money lifted
+6.55%
single-day change vs previous close
What happened that day?
- On 10 June 1999 the KOSPI rose 6.55%
- Household money was doing the lifting in Korean stocks that year
- Deposit rates had fallen far below their pre-crisis level. With nothing to be had in a bank account, money moved into shares
- Large new equity funds gathered trillions of won in a short time, and that money came into the market
- In a market like that, daily gains get large, because new buyers keep arriving
- No single trigger can be pinned to this day
- That summer the collapse of a major conglomerate's finances broke the run for a time
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.