KRX activates buy-side sidecar for KOSPI on sharp rise
Korea's bourse operator on Wednesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index sharply rose, led by a chip rally. Program trading for the KOSPI-listed shares was suspended for five minutes at 11:57 a.m., according to the Korea Exchange (KRX). After opening 1.47 percent higher, the KOSPI rose 315.69 points, or 4.97 percent, to…
The Korea Exchange (KRX) activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) due to a sharp rise in the stock index. This was triggered when the KOSPI 200 Futures index rose 5 percent or more for at least one minute. Program trading for KOSPI-listed shares was suspended for five minutes at 11:57 a.m.
The KOSPI rose 315.69 points, or 4.97 percent, to 6,661.22 as of 12:15 p.m. According to The Korea Times, the stock rise came as semiconductor shares gained ground despite overnight losses on Wall Street.
The surge in technology shares contributed to the gains in Asian equities. MSCI’s Asia-Pacific equities gauge advanced 0.4 percent, with South Korea’s tech-heavy Kospi Index adding 2.8 percent, as per The Business Times - Companies & Markets.
Brief written by urgent.news from The Korea Times, The Business Times - Companies & Markets — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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