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 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. As a result, 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. The index had opened 1.47 percent higher. According to The Korea Times, the stock rise was led by a rally in semiconductor shares, 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.
Brief written by urgent.news from The Korea Times, The Korea Times, The Business Times - Companies & Markets — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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