KOSPI · August 9, 2000
A summer bounce in the year the bubble burst
+6.63%
single-day change vs previous close
Part of a longer stretch
Korea's dot-com hangover
midway through · 2000-01-04 → 2001-09-17, -55.74% over the whole period
What happened that day?
- The KOSPI rose 6.63% to close at 710.23. No single trigger for the day could be pinned down
- From the April 2000 high to the December low the KOSPI fell 41.32%. This day sits in the middle of that
- The steeper the slide, the more often big up-days appear. Strong downward force produces strong snapbacks
- Reading a day like this as the start of a recovery is usually wrong. The direction has not changed; the speed has paused
- Money that had crowded into internet companies was draining out of the Korean market at the time, hardest on the junior board
- The index did not pass the low of this episode until December, four months later
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.