KOSPI Triggers Buy-Side Sidecar After Chip Rally
A temporary suspension of the validity of program buy orders, or a buy-side sidecar, was triggered on the KOSPI market after the KOSPI 200 futures index jumped more than 5% from the previous session’s closing price. The move came as major semiconductor stocks by market capitalization, including Sams
The Korea Exchange triggered a buy-side sidecar on the KOSPI market on August 12 after the KOSPI 200 futures index surged more than 5% from the previous session's close. This move came as major semiconductor stocks, such as Samsung Electronics and SK hynix, jumped more than 7%, boosting buying sentiment across the market. The KOSPI 200 futures index was trading at 1,037.76, up 50.68 points or 5.13% from the prior session's close when the sidecar was activated.
The KOSPI index itself was up 294.43 points, or 4.64%, from the previous day, reaching 6,639.96. The bounce back in optimism over the domestic stock market appeared to be driven by strong demand for artificial intelligence (AI) semiconductors and positive overseas market signals from the previous day.
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