KRX activates sell-side sidecar for KOSPI on sharp fall
Korea's bourse operator on Tuesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index dropped. Program trading for the KOSPI-listed shares was suspended for five minutes at 9:48 a.m, according to the Korea Exchange (KRX). After opening 3.1 percent lower, the KOSPI lost 257.09 points, or 4.03 percent, to 6,127.15 as of 9:50 a.m. Investors…
The Korea Exchange (KRX) has activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) following a sharp decline in the stock index. The KOSPI, which opened 3.1 percent lower, experienced a 4.03 percent drop, falling 257.09 points to 6,127.15 as of 9:50 a.m. This triggered the sell-side sidecar, which is activated when the KOSPI 200 Futures Index falls 5 percent or more for at least one minute.
The sell-off was driven by losses in U.S. technology stocks, affecting investor sentiment ahead of major companies' earnings reports and the release of U.S. inflation data. The sell-side sidecar is a mechanism designed to manage market volatility and protect investors during significant market downturns.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- KRX activates sell-side sidecar for KOSPI on sharp fall koreatimes.co.kr
- KRX activates sell-side sidecar for KOSPI on sharp fall en.yna.co.kr
