KOSPI · November 2, 2018
A rebound on hopes of trade talks
+3.53%
single-day change vs previous close
Part of a longer stretch
Eighteen months under the trade war
midway through · 2018-01-29 → 2019-08-07, -26.50% over the whole period
What happened that day?
- The KOSPI rose 3.53% on the day
- The US and Chinese leaders had spoken by phone, with word that they would meet soon to discuss trade
- The KOSPI had fallen hard through October, in a month combining jumping US yields with the trade fight
- Korea is unusually sensitive to that fight because of where it sits: it sells intermediate goods to China, and China sells finished goods to the US. When the two argue, the middle shrinks first
- That is the core of this period — orders fall even when tariffs do not target Korea
- The rebound did not last. Memory prices kept falling and the decline ran to August 2019
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.