KRX activates buy-side sidecar for KOSPI on sharp rise

The Korea Exchange (KRX) activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) on Tuesday following a sharp rise in the market. Program trading for KOSPI-listed shares was suspended for five minutes starting at 10:13 a.m. According to The Korea Times, a buy-side sidecar is triggered when the KOSPI 200 Futures Index rises by 5 percent or more for at least one minute.

The KOSPI opened 3.46 percent higher and gained 241.75 points, or 4.42 percent, reaching 5,711.22 as of 10:20 a.m. The Korea Times reported that the index rally was driven by overnight gains on Wall Street, with investor sentiment boosted by falling oil prices and renewed optimism regarding artificial intelligence.

Brief written by urgent.news from The Korea Times, The Korea Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.