KOSPI · June 25, 2013
Six months of a cheap yen and money leaving
-12.33%
peak-to-trough, the whole slide
119 trading days · 2013-01-02 → 2013-06-25
still below that peak today
What happened that day?
- From the high on 2 January 2013 to the low on 25 June, the KOSPI fell 12.33% over 119 trading days
- Japan began large-scale monetary easing and the yen fell quickly
- A cheaper yen makes Japanese goods relatively cheaper. Sectors that overlap with Japan — cars, machinery, steel — were hit directly
- In May the US central bank said it might reduce its bond buying, and money that had flowed into emerging markets left all at once
- With both at work, foreign investors sold heavily across this phase
- 25 June was the bottom, and the recovery that began there ran for nearly two years
- That recovery was not large, though
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.