KRX activates sell-side sidecar for KOSPI on sharp fall
Korea's bourse operator on Friday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index plunged. Program trading for the KOSPI-listed shares was suspended for five minutes at 10:04 a.m., according to the Korea Exchange (KRX). After opening 2.99 percent lower, the KOSPI fell 277.75 points, or 4.68 percent, to 5,661.7 as of 10:06 a.m. The index…
The Korea Exchange (KRX) has activated a sell-side sidecar for the KOSPI index following a sharp decline in its value. The benchmark Korea Composite Stock Price Index (KOSPI) plunged, opening 2.99 percent lower and falling 4.68 percent to 5,661.7 points within the first few minutes of trading on Friday. The sell-side sidecar mechanism was triggered due to the index losing 5 percent or more for at least one minute, in this case, falling by 277.75 points.
The downward pressure on the KOSPI can be attributed to overnight losses on Wall Street, as renewed concerns over the sustainability of the AI boom cast a shadow over investor sentiment.
Written by urgent.news from The Korea Times's reporting — not their 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
