Collapse · Jakarta Composite Index (1997)
The Jakarta Composite Index plunged 39.3% from 729.15 to 442.29 between July 1997 and February 1998, a collapse tied to Asia's policy-driven crisis. Replay each of the 148 market days, navigate 25 decision points, and receive an AI coach review in this simulated educational scenario.
148 daily bars · 25 decision points · 1997-07 to 1998-02 · Stocks
Key facts
This window spans 217 days with a peak-to-trough drawdown of 53.4% and a 63.2% run-up.
- Max drawdown
- −53.4%
- Max run-up
- +63.2%
- Duration
- 217 days
- Largest single-day move
- +14.0%
- Bars
- 148 Daily bars
- Decision points
- 25
Every figure above is computed programmatically from this replay’s own candle series — no editorial input, no LLM. Methodology: Methodology
The market advances day by day. You only see candles up to the current day — as if you were really there.
At key decision points choose Buy / Trim / Exit / Hold. Each decision advances the timeline by one day.
After settlement you get a six-dimension score and an AI coach review. Your result enters the scenario leaderboard.
Event Replay
What happened — and what it teaches
Between July 1997 and February 1998, the Jakarta Composite Index sat at the epicenter of a policy-driven storm that swept across emerging Asia. The era opened with currencies already under stress and central banks scrambling to defend pegs, leaving Indonesian equities caught between domestic reform and external contagion. With 148 trading days and 25 decision points, the period offered a concentrated laboratory for studying how sovereign-level policy uncertainty translates into day-to-day price behavior, and why investors had to rethink everything from position sizing to information sourcing.
Over those 148 daily bars, the index fell from 729.15 to 442.29, a decline of -39.3% that compressed a 53.4% maximum drawdown into barely seven months. Volatility spiked sharply enough that the largest single-bar move reached 14.0%, a reminder that on certain sessions the tape itself became untradeable for anyone anchored to historical norms. The path was not a straight line but a staircase of policy news, liquidity drains, and forced repositioning, where each leg down reset the reference frame for risk.
For decision training, the episode underscores three disciplines. First, process beats prediction: with a 14.0% swing day, pre-written rules on exposure, stops, and re-entry conditions matter more than a forecast on the next print. Second, drawdown literacy matters: surviving a 53.4% peak-to-trough decline requires explicit recognition that equity drawdowns in stress regimes are not bounded by prior experience. Third, psychology of regime change is central, as the market's character shifts from trend-following to reflexive, and the cost of denial compounds quickly. The replay's value lies in rehearsing these choices under simulated pressure, not in hindsight commentary.