KRX activates sell-side sidecar for KOSPI on sharp fall
Korea's bourse operator on Wednesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index fell sharp Program trading for the KOSPI-listed shares was suspended for five minutes at 09:06 a.m., according to the Korea Exchange (KRX). After opening 4.96 percent lower, the KOSPI lost 384.82 points, or 5.6 percent, to 6,485.01 as of 09:07 a.m.…
The Korea Exchange (KRX) has activated a sell-side sidecar for the KOSPI, the country's benchmark stock index, following a sharp decline in its value. The KOSPI fell 5.6% to 6,485.01 points within minutes of opening, prompting program trading to be suspended for five minutes at 09:06 a.m. The sell-side sidecar is triggered when the KOSPI 200 Futures Index falls by 5% or more for at least one minute.
The drop in the KOSPI was attributed to investors selling off semiconductor shares, including Samsung Electronics and SK hynix, as well as broader market reactions to stalled U.S.-Iran peace talks and rising oil prices and bond yields.
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- KRX activates sell-side sidecar for KOSPI on sharp fall koreatimes.co.kr
