KOSPI · July 11, 2024
Eight months of promising to lift company value
+26.93%
trough back to the old high
171 trading days · 2023-10-31 → 2024-07-11
What happened that day?
- From the low on 31 October 2023 to the high on 11 July 2024, the KOSPI rose 26.93% over 171 trading days
- World markets rose together as opinion turned toward US rate rises being over
- At home a programme was announced to lift the value of listed companies, encouraging bigger dividends and the cancellation of bought-back shares
- That Korean shares trade cheaper than those elsewhere had long been noted. The programme located the cause in governance and shareholder returns
- What actually rose were sectors with room to pay out, such as banks and carmakers
- At the same time demand for memory used in artificial intelligence revived and chip shares rose with it
- But the programme was guidance rather than obligation, and prices slipped back the next year as follow-through proved slow
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.