KOSPI · December 16, 1998

The session after the high

-5.84%

single-day change vs previous close

Part of a longer stretch

Korea's post-IMF rebound

midway through · 1998-06-16 → 1999-04-27, +183.56% over the whole period

What happened that day?

The KOSPI fell 5.84% to close at 545.97. No single trigger for the day could be pinned down
The previous session, 15 December, was the high of the correction that followed. From here to February the index fell 14.04%
Through the second half of 1998 this market had climbed steeply on falling rates and visible restructuring
After a fast climb, the give-back is large — more so when the climb rested on expectation rather than earnings
The correction itself was not deep, and the recovery carried into the following spring
The pre-crisis high returned in April 1999

Sources

KOSPI

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.