KRX activates buy-side sidecar for KOSPI on sharp rise
Korea's bourse operator on Thursday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index sharply rose. Program trading for the KOSPI-listed shares was suspended for five minutes at 9:58 a.m., according to the Korea Exchange (KRX). After opening over 3 percent higher, the KOSPI gained 325.34 points, or 5.03 percent, to 6,790.39 as of 9:59 a.m.…
The Korea Exchange (KRX) has activated a buy-side sidecar for the KOSPI after the stock index experienced a sharp rise on Thursday. The program trading for KOSPI-listed shares was temporarily suspended for five minutes at 9:58 a.m. Following the suspension, the KOSPI gained 325.34 points, or 5.03 percent, reaching 6,790.39 as of 9:59 a.m. The index rebounded after a 6 percent drop the previous session, aligning with overnight gains on Wall Street as U.S. Treasury yields eased due to plans for increased government debt buybacks.
The buy-side sidecar is activated when the KOSPI 200 Futures Index increases by 5 percent or more for at least one minute.
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Also reported by 2 other outlets
- KRX activates buy-side sidecar for KOSPI on sharp rise koreatimes.co.kr
- KRX activates buy-side sidecar for KOSPI on sharp rise en.yna.co.kr
