KRX issues buy-side sidecar amid KOSDAQ's sharp increase

The Korea Exchange (KRX) has introduced a buy-side sidecar mechanism for the secondary KOSDAQ market in response to the recent sharp increase in the stock index. This move comes after the KOSDAQ market experienced a sell-side sidecar and a circuit breaker activation on the previous day, with the index plummeting over 7 percent. However, the index quickly rebounded, rising 5.27 percent to reach 800.90 points by Friday afternoon.

The buy-side sidecar is activated when KOSDAQ 150 futures rise by at least 6 percent from the benchmark price and the KOSDAQ 150 index gains at least 3 percent from its previous trading day's closing level, with both conditions persisting for a minute.

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.