KOSPI · January 17, 2024
When expectations ran ahead and came back
-2.47%
single-day change vs previous close
Part of a longer stretch
Eight months of promising to lift company value
early in it · 2023-10-31 → 2024-07-11, +26.93% over the whole period
What happened that day?
- The KOSPI fell 2.47% on the day
- China reported growth below its target, and its property troubles were continuing
- At the same time expectations that America would cut rates from March were receding, because inflation had not turned as fast as hoped
- Shares had risen hard into year end on those cut expectations, so pushing the date back produced a matching give-back
- The market's swings in this period followed forecasts of when cuts would come, not earnings
- The direction changed again in February when the corporate value programme was announced
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.